Earlier this week I again raised the issue of the need for a flat five year expiry date for gift cards being introduced. This industry is worth £6billion in the UK and consumers are losing out on £300m per year due to gift cards with arbitrary expiry dates.
The Minister for Business and Consumers agreed that she did not want UK consumers at a disadvantage compared with EU consumers, and I challenged her to therefore commit the UK Government to align itself with the EU when it brings in a standard flat expiration period of five years for gift cards.
The Minister stated the Government will “always be minded to go further” than the EU on consumer protection matters, so I look forward to the UK Government to finally take action on this matter, and will continue to apply pressure until this is done.
Click below to watch the exchange: