A request from two MPs for a full parliamentary debate on the retail distribution review’s (RDR) impact on IFAs has been turned down.
Mark Garnier, a Conservative MP, says the back benchers business committee rejected the request because of its proximity to last week’s Westminster Hall debate on the subject and the fact that the RDR has recently come up in a Treasury select committee evidence session.
Garnier says: “They suggested coming back in a month when some time has fallen between the debates and our request, we are not going to let this go.”
Garnier, a Treasury select committee member, is calling on IFAs to lobby their local MPs and has written to 50 who contacted him on the subject asking them to do so. (article continues below)
He says: “They need to get in touch with their MPs and say this debate is something which may happen and would they support it.”
Garnier offered his support in seeking a full debate after last week’s initial parliamentary RDR debate in Westminster Hall, secured by Harriett Baldwin, fellow Conservative MP .
During the debate, Garnier said: “The interest that I have encountered is certainly unprecedented.”