Oral Answers to Questions

Callum Anderson Excerpts

Tuesday 27th January 2026 Commons Chamber

[Lucy Rigby]

The Government of course recognise the importance of in-person banking services and access to cash, as the hon. Member and I have discussed. As she knows, in-person services are provided through traditional bank branches, banking hubs, post offices and other means, and I will continue to monitor the situation. As she knows, I have listened very carefully to her concerns, and I am happy to do so again.

[Callum Anderson (Buckingham and Bletchley) (Lab)]

Earlier this month, the House of Lords Financial Services Regulation Committee published a report on private markets, highlighting the potential risks to economic stability, and the Bank of England has also undertaken a stress test of the ecosystem. What actions is the Minister considering taking with regulators to strengthen transparency and oversight of private markets, so that we can mitigate any systemic risks?

[Torsten Bell]

My hon. Friend is right that the rise in private markets has brought benefits, including to growth and financial stability—we have discussed that many times in the context of pensions—but it does come with new risks. The Treasury and regulators have increased their focus on those risks in the non-bank sector in recent years and, as I am sure he is aware, have played a leading role in the response to emerging non-banks’ risks internationally. In particular, the Government emphasised in the November remit letter to the Bank of England’s Financial Policy Committee that the committee should continue to consider risks in private markets. We are considering the House of Lords Committee’s recommendations, and will respond in due course.