Swindon MPs Justin Tomlinson & Robert Buckland showed their support for Macmillan and helped to raise awareness of the financial impact of cancer at a Parliamentary event on Tuesday 4 July.
At the event, both MPs heard about how the financial impact of cancer affects 4 out of 5 cancer patients, leaving them on average £570 a month worse off. This is a result of lost income - if people are too ill to work - and increased expenses. This is leaving people struggling to pay their bills, and worrying about money.
With the number of people with cancer growing, it’s vital that action is taken now to ensure people get the support they need to cope financially when they have cancer.
Now, the charity Macmillan Cancer Support is calling for the banking sector to do more to help – a call supported by both Justin & Robert. Macmillan's research reveals that while there are pockets of good practice by the banking sector, a quarter of people who told their bank about their cancer were dissatisfied with the help they received.
Macmillan is calling for banks to offer early, tailored support and ensure staff are trained to identify and help customers with cancer. It’s also calling on industry representatives and the regulator to do more to set out what banks are expected to do. Finally, they are urging the Government to change the law to make it a legal duty for banks to support vulnerable customers, such as those with cancer.
Justin Tomlinson MP said: “When I was Minister for Disabled People this is an issue that I had many meetings on, including here in Swindon on a visit to Nationwide who are already working with Macmillan to help support people with cancer. So whilst there has been some progress, it’s clear there is more still to be done. As well as banks taking steps themselves, the Financial Conduct Authority – who regulate banks, and the Government have an important role to play in ensuring banks know that supporting people with cancer must be a priority."
Robert Buckland MP said: “It’s shocking to hear that people with cancer are having to worry about money when they should be focusing on their health. Banks and building societies, as providers of people’s main financial products – such as mortgages, or credit cards – have an unrivalled ability to help people with the financial impact of cancer.”
For more information, please visit www.macmillan.org.uk/inthebalance
