Easter Adjournment

Cat Smith Excerpts

Thursday 30th March 2017 Commons Chamber

[Cat Smith (Lancaster and Fleetwood) (Lab)]

It is always a great privilege to respond from the Front Bench in these debates, where we hear an eclectic mix of issues and we realise the true passion that colleagues have on a great many issues.

My hon. Friend the Member for Gateshead (Ian Mearns) opened the debate and said he was going to offer some home truths from his north-east constituency, and he certainly did so. He painted a vibrant picture of the Haredi Jewish community in Gateshead celebrating Purim, and it crossed my mind as we move into the Easter recess that it is important to remember the connections between Easter and the Jewish Passover. Obviously much of the symbolism is the same, as is the position in the calendar, but in many languages the words for “Easter” and for “Passover” are identical or very similar. The hon. Member for Strangford (Jim Shannon) has just reminded us about the true meaning of Easter, which is that the Lord loved us so much that he gave his son, who died for us but then rose again. Some hope can be offered to this House through that Easter message.

My hon. Friend the Member for Gateshead had some banter with the hon. Member for Harrow East (Bob Blackman) about football. Unfortunately, the latter cannot be in his place at the moment, but he said he did not want to jinx Newcastle United’s good season by mentioning them. I should point out that when I mentioned Barrow A.F.C. during the Christmas Adjournment debate it absolutely jinxed their great winning streak, and I apologise to all Barrow fans who might be watching this debate.

My hon. Friend the Member for Poplar and Limehouse (Jim Fitzpatrick) came in with his shopping list, and he is a passionate co-chair of the all-party group on maritime and ports. He raised some important issues, as we leave the European Union, about the way in which we support and train the next generation of merchant navy seamen, and I supported his calls on that. I also support his calls for the fire and rescue service to have a statutory duty in respect of flooding, as our firefighters already respond to flooding incidents when called to do so.

The hon. Member for Southend West (Sir David Amess) raised the issue of the school funding formula, and I am sure that there is not a Member who does not have a case from their constituency where they feel their schools are losing out. I certainly have cases in my constituency; I was most surprised, given the Government’s rhetoric on grammar schools, to receive a letter from the Lancaster Royal Grammar School outlining the huge cuts that it faces to its budget. It appears that no school is safe from these cuts. The hon. Gentleman was heading off to Southend’s Got Talent competition and if he was in his place I would have wished him good luck with whichever talent it was that he was hoping to win the competition with.

My hon. Friend the Member for Brentford and Isleworth (Ruth Cadbury) raised the issue of the 20,000 requests she has had for help and support in the past 22 months, which highlights the work of Members in serving their constituents, doing much of it behind the scenes. The hon. Member for Beckenham (Bob Stewart) raised the issue of Syria and reminded us of the role that we all play as a country on the world stage when the answers do not always seem very obvious. This Easter recess might be a time for many Members to reflect on the role we can play.

My hon. Friend the Member for West Ham (Lyn Brown) once again raised the issue of hysteroscopies. If Ministers think that she will be going away any time soon, they might want to think again. I suspect that if things are not resolved, she will be back at the next Adjournment debate before a recess raising the exact same issue, as she does at every opportunity she gets.

My right hon. Friend the Member for Leicester East (Keith Vaz) talked about many issues relating to police matters and about the real need for justice for police widows. As we move towards the Easter Adjournment, we do so with a great sense of loss and sadness in our hearts, because last week we lost PC Keith Palmer, who was part of our Westminster village. That has affected every one of us. On behalf of the Opposition Front-Bench team, I add my condolences to PC Palmer’s family, friends and colleagues in this place as they mourn his loss. We remember all those killed and injured in last Wednesday’s act of terrorism and thank all those who work so hard to keep us safe, not only here in the Houses of Parliament but in our constituencies. We also thank all those who work for the security services doing work that goes unseen but that saves a great many lives.

I wish my hon. Friend the Member for Heywood and Middleton (Liz McInnes) a happy birthday; I suspect she will be getting many birthday greetings now that my right hon. Friend the Member for Leicester East has outed her birthday. She raised the important issue of compulsory first aid in schools. The issue came to light in my constituency recently when I was at a large gathering. I had just taken the microphone when somebody on the back row had an epileptic fit. It surprised me that there were just two of us in the room who knew what to do in that situation. It was a room full of 100 people, and just two of us responded as first aiders. I call on the Government to think again about the campaign for compulsory first aid in schools, which I fully support.

The hon. Member for Strangford (Jim Shannon) talked about the issues in Ethiopia and Somalia. He is a great, passionate campaigner for global justice and against poverty, and I know he will continue his fight for justice.

As we move towards the Easter Adjournment, I wish you, Madam Deputy Speaker, and Mr Speaker, the Deputy Speakers, the staff of the House, and all Members and their staff who work on this estate, a happy Easter. In particular this Easter, I wish the police and security staff—who work very hard and who may often have gone unnoticed but certainly not in the past few days—a happy and peaceful Easter. Happy Pesach to everyone.

Electoral Commission

Cat Smith Excerpts

Tuesday 7th March 2017 General Committees

[Cat Smith (Lancaster and Fleetwood) (Lab)]

I thank the Minister for introducing the motion about this important appointment. We believe that Professor Stephens appears to be a very good and proper choice for the role, and we are happy to support the motion.

Question put and agreed to.

Resolved,

That the Committee has considered the motion, That the Motion in the name of Mr David Lidington relating to the appointment of Professor Elan Closs Stephens as an Electoral Commissioner shall be treated as if it related to an instrument subject to the provisions of Standing Order No. 118 (Delegated Legislation Committees) in respect of which notice of a motion has been given that the instrument be approved.

Christmas Adjournment

Cat Smith Excerpts

Tuesday 20th December 2016 Commons Chamber

[Cat Smith (Lancaster and Fleetwood) (Lab)]

It is an absolute pleasure to make my debut appearance as shadow Deputy Leader of the House to respond to the Christmas Adjournment debate. I believe that the House is at its best when Members raise such a huge number of issues. However, I am conscious that, apart from the Deputy Leader of the House, I am all that stands between Members and their Christmas recess, so I shall be as brief as possible in expressing my thoughts about the debate that we have enjoyed this afternoon.

The hon. Member for Harrow East (Bob Blackman) opened the debate by remembering those who are less fortunate than ourselves—a very important message at Christmas—and the plight of those who are homeless. I add my thanks to Crisis, which does amazing work throughout the year but particularly at Christmas, and give credit to the last Labour Government, who did so much to tackle rough sleeping.

My hon. Friend the Member for North Tyneside (Mary Glindon) raised important issues, including drug addiction and sprinklers in schools. She also spoke about jobs in her constituency; she is a tireless advocate for the people of North Tyneside.

The right hon. Member for Chelmsford (Sir Simon Burns) raised a subject that certainly interested me, namely the plight of his constituents who travel to London by rail. He said that their trains were now 30 years old. I see his challenge, and I raise him the class 37s, which are 1960s locos. They are used by many commuters between Barrow and Preston, and they frequently break down. I should also note at this point that they are magnificent engines, because last time I raised the issue in the House, many train enthusiasts berated me somewhat on Twitter. Those engines would make a great addition to any museum. All that my Fleetwood constituents would like for Christmas, however, is a rail line to Fleetwood.

My hon. Friend the Member for Mitcham and Morden (Siobhain McDonagh) spoke of the workers who are receiving a pay cut this Christmas. She is a tireless advocate for the workers in her constituency, and today she raised the important issue of retail workers, for whom Christmas is often bittersweet. The hours and the money that they can earn until Christmas are great, but January often comes with a reduction in hours and a pay cut.

The hon. Member for Bridgwater and West Somerset (Mr Liddell-Grainger) informed the House of a drama that was unfolding in his constituency, which he described as the end of local democracy. Many of my constituents might argue that that has already happened, given that fracking is being forced on the people of Lancashire.

My hon. Friend the Member for City of Chester (Christian Matheson) addressed the issues facing our country. He has clearly reflected on events over the past 12 months, and I concurred with his call for the rejection of post-truth politics. We should all commit ourselves to putting the “united” back into the United Kingdom.

The hon. Member for Filton and Bradley Stoke (Jack Lopresti) talked about road transport infrastructure issues in his constituency. As we are now making our Christmas lists, I would certainly like to add the A585 to my wish list for the road to Fleetwood.

My hon. Friend the Member for West Ham (Lyn Brown) raised the issue of hysteroscopies. This was the third occasion on which she raised it in the House, and I am sure the Deputy Leader of the House will now raise it with the Department of Health.

The hon. and gallant Member for Beckenham (Bob Stewart) raised the iniquity, also raised by the hon. Member for Filton and Bradley Stoke, faced by the ex-service personnel who serve in Northern Ireland, and I am sure the Deputy Leader of the House will expand on that in his remarks.

The hon. Member for Strangford (Jim Shannon) reminded the House of the real reason for Christmas: the greatest gift ever given, the birth of Jesus Christ. He remembered all the persecuted Christians around the world. It is an issue he feels very strongly about, and probably sometimes finds overwhelming to deal with, so my Christmas gift to him is 1 John 4:4:

“because the one who is in you is greater than the one who is in the world.”

I hope that offers him some comfort this Christmas.

The hon. Member for Twickenham (Dr Mathias) spoke very eloquently about the shame faced by our constituents who face DWP assessments and the fantastic Ken Loach film “I, Daniel Blake”. If anyone has any time over Christmas, I am sure they will be hiring that on Amazon or elsewhere.

The hon. Member for Southend West (Sir David Amess) reflected on bereavement, which is often felt more acutely at Christmas than at any other time of the year. I am pleased he found the opportunity to mention the work of his local hospice. Indeed, if I was not at this debate, I would have been at St John’s hospice in Lancaster, where students from Beaumont College were doing a Christmas performance. Instead, I will be visiting Brian House children’s hospice in Blackpool tomorrow.

The hon. Member for Cleethorpes (Martin Vickers) talked about Sea View Street in his constituency, which was a winner at the British high street awards last week. While his constituency may well have won the No. 1 result on the east coast, I recognise he had to specify that because he knows he could not possibly compete with the resort of Fleetwood; and indeed my constituent Craig McOmish, who owns the beach kiosk at Fleetwood, was a winner at the same awards. More seriously, the hon. Gentleman raised the issue of the fishing industry, and that must be looked at seriously in the Brexit negotiations. We must support the British fishing industry.

The hon. Member for Kingston and Surbiton (James Berry) talked about hate speech and abuse on social media. I am sure no Member of this House is unaware of the things that go on on social media—the anti-Semitism, Islamophobia, racism, sexism and all the other forms of hate we see there. Last week I reported a comment on Facebook that was made about a person who is a democratically elected politician in this country. The quote was,

“shoot the bastard between the eyes and two bullets to the heart, will cure the problem”.

Within hours I heard back from Facebook that that did not breach its terms and conditions. That is absolutely a death threat, and I am continuing to pursue that with Facebook.

My right hon. Friend the Member for Leicester East (Keith Vaz) raised a number of issues that he is passionate about, including cyber-bullying, the police funding formula, diabetes, Yemen and of course Leicester City. Of course 2016 was a very fine year for Leicester City, but it has also been a fine year for the mighty Barrow, who beat a league side away for the first time in 44 years. If there are any Bristol Rovers fans in the House, I can only apologise for what was clearly a very embarrassing defeat in the FA cup.

As we reflect on the year past, may I join Members who remembered our friend and colleague Jo Cox? In Jo’s maiden speech, she reminded us that we have

“more in common than that which divides us”—[Official Report, 3 June 2015; Vol. 596, c. 675.]

and as we adjourn for the Christmas recess, we remember all those Members of the House, and indeed our constituents, who come from many different faith and cultural backgrounds but are all in the same way British. So may I take this opportunity, Madam Deputy Speaker, to wish you a happy Christmas, but to wish the Deputy Leader of the House a happy Hanukkah? In my household we will be celebrating both festivals, and anyone who has ever seen “The O.C.” will know that Chrismukkah is indeed a thing; it is a merger of both festivals.

So whatever Members of this House are celebrating as we break for the Christmas recess, may I wish them a very happy Christmas and a very peaceful new year, and extend that to the staff who work for us, the staff of the House, and all those who work here and all our constituents?

Equality: Autumn Statement

Cat Smith Excerpts

Wednesday 14th December 2016 Commons Chamber

[Cat Smith (Lancaster and Fleetwood) (Lab)]

I am speaking in this debate because this Government’s so-called long-term economic plan has failed, is failing and continues to fail women in particular. The motion states that

“86 per cent of net savings to the Treasury through tax and benefit”

measures will come from women. The Minister said that maybe that was not the full picture. Well, it is not the full picture because it does not take into account the many hours of unpaid caring work that women in our communities do, often plugging the gap left by cuts to local services—caused by this Government. Moreover, some women are paying far more than others, and women in low-paid jobs from the black and minority ethnic community and women with disabilities are disproportionately taking the hit from this Government.

When it comes to social care that is paid care, rather than unpaid care, we know that 82% of employees in adult social care are women, and that their hourly median wage is £7.10, but that often does not take into account travel time between appointments, so the true figure can drop as low as £5.75—well below the £6.70 national minimum wage. The autumn statement said nothing on social care, health, the NHS or mental health; as a result it missed the point and did not tackle the issues that we face as a country.

There was nothing in the autumn statement for the 2.6 million women who have had their lives changed by this Government’s attitude to the equalisation of pension ages. Those WASPI women have campaigned with dignity, but they got nothing from this autumn statement, as the Government continue to refuse to act for them.

On the tampon tax, can the Minister confirm whether the £3 million announced in the autumn statement is new funding or the remainder of the allocation from 2015 funds? I do not know where to begin with the tampon tax. The injustice of women having to pay that tax is not negated by the fact that money is given to women’s charities, because women should not be funding our own refuges. A tax that the Government hope to abolish—we stand with them on that; we would like to abolish it too—does not offer secure funding for our refuges, which need long-term secure funding. The Government need to step up to the mark on that.

This debate should not be taking place, because the Government should have published their equality impact analysis ahead of the autumn statement. Perhaps the Minister will let us know whether she plans to publish the impact analysis that was undertaken ahead of the 2016 autumn statement, to reveal its impact on women.

Nothing in this debate is new. It has been known for decades that cuts to public services have a disproportionate impact on women, because they are more likely to work in the public sector and to be using the services provided by the public sector, and yet it is women who often pick up the unpaid work that is left to be done when services are cut. We have known for decades that women are disproportionately represented among the lowest-paid in our communities, and are therefore now being disproportionately impacted by the cuts made by this Government. Given that this fundamental analysis is well known and widely accepted, one can only assume that this Government deliberately presented an autumn statement that they knew would disproportionately impact on women.

The Labour party has made a commitment that any future Labour Government will ensure that all economic policies are gender-audited, to ensure that they truly work for all. Not only has austerity failed our country, and especially the women of our country, but we need to remember that this was a political choice, made for ideological reasons rather than economic necessity.

Draft Electoral Registration Pilot Scheme (England) Order 2016

Cat Smith Excerpts

Monday 4th July 2016 General Committees

[Cat Smith (Lancaster and Fleetwood) (Lab)]

It is a pleasure to serve under your chairmanship, Mr Percy. I welcome this opportunity to discuss a pilot scheme that aims to improve the electoral registration process.

Sadly, the Government’s record on this area to date is poor. As a result of the Government’s rushed move to individual voter registration, 1.5 million people went missing from the electoral register from 2014. That is on top of an estimated 7.5 million people who were missing from the register prior to that date. The fact that so many of our citizens are disfranchised is a national scandal.

This debate is particularly timely, given the chaotic scenes we saw last month. In the hours leading up to the voter registration deadline for the EU referendum, so many people attempted to register that they crashed the Government’s website. There could not be a clearer indication of the need to improve the completeness of our electoral registers as a matter of routine. The Government must ensure that in future elections or referendums, individuals are not forced into a last-minute scramble to register.

I note that the Electoral Commission has given the pilot schemes a cautious welcome, with certain conditions. It states:

“The aims and objectives of the schemes must be well-defined and clearly stated, and include clear evaluation criteria to enable a proper assessment of their impact on the completeness and accuracy of the electoral register; the convenience of electoral registration for electors; and the costs of the electoral registration process.”

I am aware that Ministers do not always listen to the advice of the Electoral Commission, particularly when they want to push through individual voter registration ahead of the boundary review, but I hope that they will do so on this occasion. It would be useful if the Minister could provide further information on how he plans to evaluate the effectiveness of these schemes.

In particular, the proposal in article 5 to give electoral registration officers more discretion over how they contact households as part of the annual canvass is interesting. Will the Minister clarify how he will monitor whether the most appropriate method of canvassing a household is chosen by EROs over simply the cheapest? For example, an email or telephone call may end up being more cost-effective than a letter or a visit to an address. However, if the call is made while everyone in a household is at work, or if an email is sent to a defunct email address or simply ends up in a junk folder, some individuals may, in effect, receive no contact at all encouraging them to register.

In addition, how does the Minister plan to evaluate the effectiveness of the pilots in registering groups who we know are particularly poorly represented on the electoral register? Prior to the EU referendum, Bite the Ballot estimated that about 30% of young people aged 18 to 24 are not on the register. Certain black and minority ethnic groups are also woefully under-represented on it. According to the Electoral Commission, the registration rate for black people is only 76%, and for people of mixed ethnicity the rate is 73.4%. In 2014 the Political and Constitutional Reform Committee found that

“turnout for people from BME groups once they are registered to vote does not differ significantly from turnout for White British residents who are registered to vote.”

Although this is clearly a complex issue, that suggests that if we can find a way of improving registration rates among these BME groups, it would go a long way towards increasing the percentage of people who cast their vote at elections.

The Opposition look forward to monitoring the pilots and will work with the Government in supporting measures that are effective in improving the accuracy and completeness of the annual canvass.

Oral Answers to Questions

Cat Smith Excerpts

Thursday 9th June 2016 Commons Chamber

[Mr Whittingdale]

I am delighted to hear that the Home Secretary and I are singing from the same hymn sheet on this matter. I have talked to her about it, but that was at a time when it looked as if the cases were going to come to a conclusion in the reasonably near future. Fortunately, or unfortunately, new cases have been brought, and one or two of them have not even started yet, which makes it very difficult to put a timetable on developments. I obviously agree with right hon. Gentleman that these cases cannot go on indefinitely, but they are already going on rather longer than was initially anticipated.

[Cat Smith (Lancaster and Fleetwood) (Lab)]

3. What steps he is taking to support the tourism sector.

[The Secretary of State for Culture, Media and Sport (Mr John Whittingdale)]

The Prime Minister’s five-point plan for tourism sets out how this Government will help to grow the British tourism industry. The year 2015 set new records for inbound visits and spend, but we are not complacent. To boost tourism in England further, the Chancellor announced a new £40 million Discover England fund at the last spending round. This will support visitors to discover even more of England’s hidden gems.

[Cat Smith]

The Secretary of State may be aware of the many great tourist attractions in north Lancashire along the Fylde coast, including the historic Lancaster castle with stunning views over Morecambe bay and the area of outstanding natural beauty, the forest of Bowland? Does the right hon. Gentleman feel that the tens of thousands of jobs that are supported by tourism in my area are helped or hindered by the potential threat of fracking wells appearing in north Lancashire?

[Mr Whittingdale]

I very much share the hon. Lady’s appreciation of the beauties of the Fylde coast and the north-west. Fracking offers terrific opportunities for accessing further low-cost energy, and I do not believe that it should represent any threat to the tourism industry.

I would like to take advantage of this moment at the Dispatch Box to pay tribute to the fantastic work of the Under-Secretary of State for Culture, Media and Sport, my right hon. Friend the Member for Bexleyheath and Crayford (Mr Evennett), who is responsible for tourism. He has done a great job. We look forward shortly to welcoming back to her role the Under-Secretary of State for Culture, Media and Sport, my hon. Friend the Member for Chatham and Aylesford (Tracey Crouch), but my right hon. Friend has done a fantastic job in her absence. I have no doubt that he will continue to advocate sports, tourism and heritage in the extremely effective way that he has over the last few months.

Oral Answers to Questions

Cat Smith Excerpts

Tuesday 7th June 2016 Commons Chamber

[Mr Gauke]

I would be very happy to meet my hon. Friend to discuss the specific points, but I would also say that the customer performance of HMRC last year was clearly not at an acceptable level. In the run-up to the self-assessment deadline at the end of January 89% of calls were getting through first time and the average waiting time was less than five minutes. That can be improved on, but we should note that it is a much higher performance than has been achieved in HMRC’s previous history.

[Cat Smith (Lancaster and Fleetwood) (Lab)]

T5. I note that the Minister has yet to respond properly to the shadow Chancellor’s question about the new anti-tax avoidance directive in the European Parliament, which is being voted on tomorrow. In light of Conservative MEPs’ abstention at the committee stage, will someone now confirm whether they will support it tomorrow?

[Mr Gauke]

Just to be clear, the text of the anti-tax avoidance directive has not been finalised. It was discussed at the ECOFIN meeting a couple of weeks ago and will be discussed again in a week’s time, on 17 June. It has not been finalised. What I can say is that the UK Government’s position is very clear: we want something strong and effective, and that is the case that we have been advocating in the Council of Ministers.

Equitable Life

Cat Smith Excerpts

Thursday 11th February 2016 Commons Chamber

[Melanie Onn]

I agree, and our constituents in London and the north of the country clearly share the view that this is a significant issue. People feel seriously let down by the Government’s failure to act on this matter in a timely fashion. I wonder whether the Minister is confident that the current regulations are strong enough to prevent any repeat of what happened. Future investors will be particularly keen to know that they are not going to fall into a similar trap and that if a similar situation were to come to light in the future, the Government would engage with the victims and allow their voices to be heard when trying to devise a solution.

[Cat Smith (Lancaster and Fleetwood) (Lab)]

My hon. Friend is making an important point about victims feeling that their voices are not being heard; that is the message that has come across loud and clear from my constituents, who have also been affected and have found themselves re-mortgaging their homes in their old age just to make ends meet. Does she share my concerns on that?

[Melanie Onn]

It must be a significant concern to people to find themselves at retirement age without the money they were expecting, having prudently invested. The example I gave was of people taking money out of their savings to top up their pensions, and they would have expected to have some security in their older years.

It is welcome that the Government do step in where regulation has failed; but unfortunately, the delivery is too often lacking. We know about this in Grimsby, because there has also been appalling maladministration of the fishermen’s pensions and the fishermen’s compensation scheme. Despite it being 30 years since those were due to pay out, a constituent of mine is still waiting and has not received the £3,000 that he is due, simply because of poor record keeping. The Government must understand that when compensation packages are devised, the mechanism to deliver them must be properly put in place and all the calculations must be done appropriately, and where money is promised, it must be delivered. The Government need to ensure that the regulation of these industries is robust and they need to be quicker to compensate those who lose out in the future.

Short Money and Policy Development Grant

Cat Smith Excerpts

Thursday 11th February 2016 Commons Chamber

[John Penrose]

I am glad that the hon. Gentleman has mentioned the boundary review. It is important that we all sign up to the principle that everybody’s vote, right the way across the country, no matter which constituency they might be in, should weigh the same. It cannot be right to have a system in which, in the past, Members of Parliament from some political parties have been elected in constituencies with many fewer people than others. People might justifiably ask why the Labour party, which benefited from that system for a very long time, is so against the notion of having equal votes for equal weight. I commend the new changes and the equalisation of the size of constituencies to all here.

[Cat Smith (Lancaster and Fleetwood) (Lab)]

The Minister is desperately trying, and failing, to justify the 19% cut to the Short money in the context of a Trade Union Bill that takes funds from the Labour party, of stuffing up the House of Lords and of changes to the electoral register and general election boundaries. Will he now admit that the so-called one nation party is trying to create a one-party nation?

[John Penrose]

I compliment the hon. Lady on a well-rehearsed soundbite, but I have to tell her that I am not feeling terribly desperate at the moment. Indeed, I am feeling quite principled, because we are trying to make the system fairer and to ensure that our democracy works in a fairer fashion in future.

Bank of England and Financial Services Bill [Lords]

Cat Smith Excerpts

Monday 1st February 2016 Commons Chamber

[Richard Burgon (Leeds East) (Lab)]

I beg to move an amendment, to leave out from “That” to the end of the Question and add

“this House, whilst noting improvements made to the Bill in the House of Lords, declines to give the Bank of England and Financial Services Bill [Lords] a Second Reading because the Bill fails to increase oversight and accountability of the work of the Bank of England, because the Bill reduces regulation of financial services and because the Bill removes the reverse burden of proof with regard to personal responsibility in the Senior Managers and Certification Regime which was introduced following the cross-party Parliamentary Commission on Banking Standards and enacted in the Financial Services (Banking Reform) Act 2013; and considers that there is no evidence base to justify the removal of the reverse burden of proof which has not yet been implemented.”

The regulation of financial services has been discussed at length and legislated upon in this House since the financial crash, with the Financial Services Act 2012 and the Financial Services (Banking Reform) Act 2013 being passed, and this Bill now being brought to this House. The Bill is made up of two parts: first, amendments to the structures of the Bank of England; and, secondly, regulation of financial services. We believe that the Bank of England should carry out its work in the most efficient way possible, with transparency and accountability in its decision making, serving the interests of the people who have sent us here to represent them. We also believe that senior bankers and others in the financial sector should be effectively and appropriately regulated, in order to deliver a banking culture that is free from the systematic greed and reckless risk-taking that precipitated a bankers’ crisis of historic proportions in 2008.

[Cat Smith (Lancaster and Fleetwood) (Lab)]

Is it not the case that Labour rescued the banks in 2008 and that now the Conservatives are selling off RBS shares at a loss to the taxpayer?

[Richard Burgon]

I thank my hon. Friend for her intervention, and she is correct. It shows what disregard the Chancellor has for the taxpayers’ coffers and the public purse—he is also showing that in his numerous meetings with Google and their shoddy outcome. Financial stability and the effective regulation of our banking and wider financial services industry are vital in ensuring that the sector serves the interests of the whole economy, does not hurt ordinary people or small and medium-sized businesses, and delivers vital investment that our country needs for long-term growth. Getting the balance of regulation right is an important task for any Government, one that Governments around the world have failed to fulfil in the past decade. It is a task that has been attempted since the bankers’ crisis of 2008, but today the Government are threatening to set back this task.

The context of the Bill is vital to understanding our concerns, and the reasonable concerns and demands of the public. We are eight years on from the economic crisis—the bankers’ crisis, which brought the financial services sector and the country to its knees. Banks that were too big to fail were bailed out by the state.