Speech in Commons Chamber - Tue 30 Nov 2021
Conduct of the Right Hon. Member for Uxbridge and South Ruislip
"Does my hon. Friend agree that for all this talk of the levelling-up agenda, when it comes to Scotland it is clear that it is a scorched earth agenda? Whether we are talking about carbon capture in his part of the country or the Valneva contract to deliver 100 million …..."Hannah Bardell - View Speech
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Speech in Commons Chamber - Tue 30 Nov 2021
Conduct of the Right Hon. Member for Uxbridge and South Ruislip
"Will the Minister give way?..."Hannah Bardell - View Speech
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Speech in Westminster Hall - Mon 08 Mar 2021
LGBT Conversion Therapy
"It is a pleasure to serve under your chairship, Mr Gray. I can think of no better way to open my speech than where the hon. Member for Walthamstow (Stella Creasy) finished, with a passage from Vicky Beeching, who gave me a lot of support before I came out publicly. …..."Hannah Bardell - View Speech
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Speech in Commons Chamber - Mon 11 Jan 2021
Economic Update
"The Young Women’s Trust found that because of covid 1.5 million women are losing income; 69% are claiming benefits to the first time; half of young mums are unable to keep or find employment because of childcare costs; and a third of women will not report sexual harassment for fear …..."Hannah Bardell - View Speech
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Speech in Commons Chamber - Thu 05 Nov 2020
Economy Update
"My constituent Douglas McCarthy has been running the bespoke travel business Travelyard for many years and has seen his livelihood completely evaporate. Despite the fact that he has been bringing folk home and providing a vital service in the community, he feels that his industry has been virtually ignored by …..."Hannah Bardell - View Speech
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Written Question
Tuesday 17th March 2020
Asked by:
Hannah Bardell (Scottish National Party - Livingston)
Question
to the HM Treasury:
To ask the Chancellor of the Exchequer, what safeguards are in place to protect consumers from payday lenders that have gone into administration.
Answered by John Glen
The Government has fundamentally reformed regulation of the consumer credit market, including payday lending, by transferring responsibility to the Financial Conduct Authority (FCA) in 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet the needs of all consumers.
Where the FCA has found issues with firms’ practices through its supervision process, it has acted. However, many complaints regarding payday lenders originate before the FCA was responsible for the regulation in this market.
When a firm enters administration, assets are pooled and used to cover customer redress claims and administration costs with these claims being addressed in order of the creditor hierarchy. The payment of redress claims is a matter for the administrators.
The Financial Services Compensation Scheme (FSCS) is the compensation scheme of last resort for customers of UK authorised financial services firms and is funded by a levy on industry. The FSCS is an independent non-governmental body and carries out its compensation function within rules set by the Prudential Regulation Authority (PRA) and the FCA. The FCA has the power to decide which activities are given FSCS protection. In 2016, the FCA decided not to extend FSCS protection to most consumer credit activities because it believed other regulatory requirements were sufficient. The full reasoning behind the FCA’s decision is set out in a letter from its Chief Executive to the Chair of the Treasury Select Committee on 15 February 2019.
Written Question
Tuesday 17th March 2020
Asked by:
Hannah Bardell (Scottish National Party - Livingston)
Question
to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans the Financial Conduct Authority has for the Financial Services Compensation Scheme to cover payday lenders that mis-sell or go into administration.
Answered by John Glen
The Government has fundamentally reformed regulation of the consumer credit market, including payday lending, by transferring responsibility to the Financial Conduct Authority (FCA) in 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet the needs of all consumers.
Where the FCA has found issues with firms’ practices through its supervision process, it has acted. However, many complaints regarding payday lenders originate before the FCA was responsible for the regulation in this market.
When a firm enters administration, assets are pooled and used to cover customer redress claims and administration costs with these claims being addressed in order of the creditor hierarchy. The payment of redress claims is a matter for the administrators.
The Financial Services Compensation Scheme (FSCS) is the compensation scheme of last resort for customers of UK authorised financial services firms and is funded by a levy on industry. The FSCS is an independent non-governmental body and carries out its compensation function within rules set by the Prudential Regulation Authority (PRA) and the FCA. The FCA has the power to decide which activities are given FSCS protection. In 2016, the FCA decided not to extend FSCS protection to most consumer credit activities because it believed other regulatory requirements were sufficient. The full reasoning behind the FCA’s decision is set out in a letter from its Chief Executive to the Chair of the Treasury Select Committee on 15 February 2019.
Speech in Commons Chamber - Tue 25 Feb 2020
Tax Avoidance and Evasion
"The right hon. Gentleman will be aware of the situation in my constituency, where the HMRC offices are being closed and moved to Edinburgh, at significant cost to the taxpayer. One of the key issues the unions raised with me time and again was the loss of expertise. The services …..."Hannah Bardell - View Speech
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Speech in Commons Chamber - Tue 25 Feb 2020
Tax Avoidance and Evasion
"The Pyramids, in Livingston in West Lothian, where the HMRC offices were based, was one of the most high-tech and best-connected sites in Scotland, yet the Government are moving them to Edinburgh to one of the most expensive sites in Scotland. It makes no sense financially, and the PAC agreed. …..."Hannah Bardell - View Speech
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Speech in Commons Chamber - Tue 25 Feb 2020
Tax Avoidance and Evasion
"Scottish limited partnerships have a real human impact. Is my hon. Friend aware that money is being laundered from, for instance, Moldova through SLPs? That is having a hugely detrimental impact. One human rights defender whom I know from Moldova has been driven out of her own country, and is …..."Hannah Bardell - View Speech
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