(6 months, 1 week ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
All I can do is account for what I have done since 13 November. I cannot really comment on the several decades previous to that. As the hon. Lady will know, we have had a series of ad hoc schemes, but the Government’s accepting culpability for what happened many years ago and the subsequent failure to respond will need to be addressed fully after 20 May. The Government’s amendment in the House of Lords is the first time that we will have put in legislation a duty to pay compensation. That is the start of a more comprehensive response that I am working on to secure collective agreement across Government, and I want to bring that forward as quickly as I am able to do so.
The Langstaff recommendation for interim payments was because of the need for speed; because people are so ill. How many people do the Government believe to be still living who were infected in this scandal? How many of them applied for the interim payments? What proportion of those who applied have received the payments? If my right hon. Friend does not have the figures with him today, will he undertake to write to me and place a copy of the letter in the House of Commons Library?
My right hon. Friend customarily asks precise and penetrating questions. I do not want to quote the few figures that I think I know, so I will write him a considered reply, which I will make available. Far too many people have suffered and far too many have died. We need to put this right as quickly as possible.
(10 months, 2 weeks ago)
Commons ChamberI reaffirm what I have said about my commitment to doing this as quickly as possible. Of course I regret the delays that have occurred over many years, and I want this to be brought to a conclusion as quickly as it can be. I think I neglected to answer the question from the right hon. Member for Torfaen (Nick Thomas-Symonds) about working with the various victims’ groups, of which there are a large number. I undertake to work with them to give them as much clarity as possible about the timetable and the work that I am undertaking.
Will the Government be making these payments within their own lifetime?
I will give a comprehensive response along the timetable that I set out earlier.
(1 year, 11 months ago)
Commons ChamberI spoke about such matters with Jon Swinney, in my second conversation with him since appointment three weeks ago, last evening. We discussed a range of matters, and I will always try to be as constructive as I can to find ways forward when the whole of the United Kingdom faces the inflationary scourge everywhere.
Given that we both agree on the need for a substantial increase in defence spending, does the Chancellor accept that any immediate, necessary freeze on it should not prejudice the goal of 3% of GDP in the medium term?
(2 years, 9 months ago)
Commons ChamberI know that the hon. Lady’s Select Committee is conducting an in-depth inquiry. I believe that the second permanent secretary and others appeared before the Committee last week, and I look forward to its report.
I can absolutely clarify that we do see the distinction between a credit loss and fraud. What we are talking about here is: what are the most effective mechanisms, and over what timeframe, to get that money back? Also, we have received moneys back from, for example, the furlough scheme: moneys and grants that were made in error. So it is a complicated picture. I am certainly not suggesting from this Dispatch Box that the Government are writing anything off, or do not grasp the distinction between a credit loss and fraud. This needs to be tackled, but it needs to be tackled in a time and money-efficient way. Obviously the law of diminishing returns begins to apply after a certain point, and we will again by led by HMRC and its excellent advice as we pursue the matter.
The Government are saying that fraudsters will still be relentlessly pursued. If, heaven forbid, the Minister ever had to implement such a scheme in the future, would he regard it as a satisfactory result to know that 99% of these huge sums of money went to the intended recipients?
I thank my right hon. Friend for his question. He helpfully highlights that many of these grants and schemes were very effective in getting money to the right people in a timely way. I spoke earlier to an official from HMRC, who said, “We managed to get some of the money out in six days. If we had spent more time designing in more verification, we could have made it watertight. That would have taken several months and many businesses would have gone to the wall.” That was the dilemma we faced. I am not saying we got everything right, but it was certainly done in all good conscience to try to get the balance right.
(3 years, 4 months ago)
Commons ChamberThe Government are committed to helping people own their own home. Our new mortgage guarantee scheme is increasing the availability of mortgages for credit-worthy households who only have a 5% deposit, helping them realise their dream of home ownership. The lifetime ISA provides a bonus to those under 40 saving towards a home, worth up to £450,000.
I refer to my entry in the Register of Members’ Financial Interests. Last week, The Sunday Times detailed the colossal sums imposed on ordinary people by rapacious freeholders and reckless developers. Why should anyone risk purchasing a lease on a residential flat if we fail as a Government to protect innocent leaseholders from bearing the costs of defective extra storeys or defective extra cladding forced on them by those who are actually responsible for such terrible defects?
I thank my right hon. Friend for his question. The Government are investing more than £5 billion in building safety, including an additional £3.5 billion announced this year for the remediation of unsafe cladding for all leaseholders living in high-rise residential buildings. We are also introducing a new tax on the UK residential property development sector and a new levy on developers of certain high-rise buildings to help pay for cladding remediation costs.
(3 years, 6 months ago)
Commons ChamberAs I have said previously, the Government are committed to co-operating fully with all reviews on these matters. I do not accept what the hon. Lady has said with respect to the schemes that the Government have put forward over the past 14 months. Her constituency has had £16.7 million in business grants and 1,206 bounce-back loans totalling £30 million. In addition, 12,700 of her constituents have benefited from the furlough scheme, and 2,000 have benefited from the self-employed income support scheme. That is a significant contribution to help her constituents.
(3 years, 9 months ago)
Commons ChamberLet me start, as others have done, by acknowledging the role of my hon. Friend the Member for Harrow East (Bob Blackman), his long-standing work on the issue and his success in securing the debate. I also need to declare an interest, as I did when I responded to the debate on 31 January 2019: my late father was an investor in Equitable Life and, therefore, I am keenly aware of the history and the importance of the issue to all concerned.
As we have heard and grasped again today, this is a complex and technical subject, the history of which has been very well documented over many years. I should also remind Members that the Equitable Life payment scheme closed to new claims over five years ago, so nothing has changed since that previous debate two years ago. Many of the speeches made today have covered the long and sad history of this matter. I do not propose to revisit all of that this afternoon. I do, however, want to remind hon. Members that the Government took more action than any of their predecessors to resolve this issue and committed significantly more funding than any other.
I appreciate that some investors remain disappointed by the steps that we took and would like to see further funds made available, but the Government have been clear and consistent in saying that this issue is closed and no further money will be paid out. This is in line with the ombudsman’s report, which was explicit about having no expectation of the full amount being paid.
I will not, because of time. Indeed, the ombudsman wrote to the APPG to clarify that position. Today, we have heard additional representations on the transparency and accuracy of the payments made by the scheme. I heard very clearly that point from my right hon. Friend and his reference to me during the debate, and I shall respond to that now.
First, the Treasury published the calculation methodology in full in 2011, as well as a simplified explanation to assist members of the scheme who were anxious about how it would work, with worked examples of the calculation. These explain how every payment made by the scheme was calculated. In addition, the Treasury has also incurred actuarial fees well in excess of £100,000, answering the questions reasonably posed by the actuarial representative of the Equitable Members Action Group, in an effort to ensure that there was maximum transparency to that group and to those members who were concerned, but no errors were found in the methodology. The group confirmed to their members that the payments to annuitants were accurate, and all this was set out in detail to the Public Accounts Committee in 2018.
Some hon. Members have spoken about policyholders who have received increased payments from the scheme, but given the closure of the scheme to new claims, I can only assume that these are historical cases. The Treasury is not aware of any corrected payments having been made to policyholders since the scheme closed, but I recognise that it may be helpful to go into some more detail on this point. The most critical determinant of the value of any payment is the input data received from Equitable itself, including payments in, payments out and the type of policy bought. Actuaries checked this data carefully and made any obvious corrections automatically before payments were made. But then the scheme also gave policyholders the opportunity to verify their own input data, which would be a significant driver of any errors, and where an error was found, the scheme corrected it and recalculated the payment. That is likely to have been what happened in specific cases that Members have raised today, and I believe that they show that the system that the scheme established to ensure accurate payments worked well.
The Government have taken significant action to resolve this issue and to balance the expectations of the policyholder with the needs of the taxpayer. The scheme was fully transparent, as I have set out. We published the calculation methodology in full. We made significant resources available to explain it. And we put systems in place to ensure that where there were errors in that input data and, therefore, payments, they were remedied swiftly. I appreciate investors’ desire that the scheme should pay out more, but the Government’s position has always been clear and consistent, both since the original announcement back in 2010 and since the scheme was wound down over five years ago. I am afraid that that position remains and will not change.
(4 years, 7 months ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
The hon. Lady makes a reasonable point about the concerns that are being raised. That is why the Cabinet Office will give further advice today on key workers and the support that will be given. I recognise that yesterday’s announcement on schools will be a significant disruption to the lives of many of our citizens. It is very important that we put in place urgently clarity about who is involved—who is designated in those categories—and the support that will be available. I will ensure that her point, which I am sure reflects the views of many, gets to the Cabinet Office after this session.
Given that the suggestions of my right hon. Friend the Member for Chingford and Woodford Green (Sir Iain Duncan Smith) could be implemented so speedily, will the Minister undertake to try immediately after this session to get an answer on whether they should be implemented?