"T2. I was surprised to learn that child benefit ceases at the age of 16 for somebody starting an apprenticeship. That is clearly a disincentive for some parents to recommend that their children follow that route. Will my right hon. Friend look at this policy and consider making changes?..." Kevin Hollinrake - View Speech
"The hon. Gentleman is making some good points and has been very vocal in this Chamber to draw attention to the bonds of a similar nature that were also mis-sold. However is not subsection (5)(a) of his amendment, which would require,
"It is a pleasure to have the opportunity to debate these issues. The amendment tabled by the hon. Member for Glenrothes (Peter Grant) is interesting. Certainly I very much support the broad principle of greater scrutiny of the FCA, but I cannot support his amendment because I do not feel …..." Kevin Hollinrake - View Speech
"Anybody reading the report will be appalled by the regulator’s performance in this case, given not just the number of complaints about LCF but the lack of joined-up thinking within the FCA. This was some years down the line; it happened after Andrew Bailey had taken over at the FCA. …..." Kevin Hollinrake - View Speech
"I could not agree more. The UK has a pretty poor record in terms of bringing forward fraud prosecutions. There are a number of things we need to do that are not really within the scope of this Bill. Not the least of them —the Government are committed to this—is …..." Kevin Hollinrake - View Speech
The key point in the amendment is about oversight. I am concerned that the FCA is not as accountable as it could be to this House. With repatriation, a number of regulations and regulatory oversight of the FCA have now passed back to us domestically whereas …..." Kevin Hollinrake - View Speech
"I am sure that many other people in the House often get frustrated, as I do, at unaccountable independent bodies or arm’s length bodies, and I might mention not least the FCA, possibly the Environment Agency and perhaps the NHS as well. Would it not be better for the FCA …..." Kevin Hollinrake - View Speech
"The Treasury deserves great credit for introducing this compensation scheme in the first place. It is a pity that the Minister responsible—my hon. Friend the Economic Secretary—is not on duty today, because he deserves personal credit for that, but the Under-Secretary of State for Work and Pensions, my hon. Friend …..." Kevin Hollinrake - View Speech
"As I said on Report, it is incumbent on investors to check out investments. If something is paying out 8% when they can get 0.5% from their bank, they must say, “Well, this is more risky than simply putting it in the bank.” We cannot lose sight of that principle. …..." Kevin Hollinrake - View Speech