Financial Services Reform

Debate between Nusrat Ghani and Rupert Lowe

Wednesday 16th July 2025 Commons Chamber

[Madam Deputy Speaker (Ms Nusrat Ghani)]

Order. Please be seated; I am on my feet. You heard the Minister say that. You do not refer to the Minister as “you”. Please come to the question.

[Rupert Lowe]

My question is this: is the Minister aware of the concept of buyer beware, or caveat emptor, which used to be the basis of financial regulation? It is very risky to force people into more and more high-risk investments as you hollow out our economy with higher taxes and regulation.

[Madam Deputy Speaker]

Order. You meant, “as the Minister hollows out”, not me. Minister—a swift response.

Football Governance Bill [Lords]

Debate between Nusrat Ghani and Rupert Lowe

2nd reading
Monday 28th April 2025 Commons Chamber

[Rupert Lowe]

I think the passion of fans can be a dangerous thing if they are on a board, yes. The FA Premier League’s success has been driven by the prescient founding formula for financial distribution, ensuring a competitive league. Under the Bill, fans collectively will suffer, and another more innovative league in another geographic region, probably in Asia, will emerge as a leader. Members might all feel good about themselves, but billions and billions of pounds will be driven out of the country. There is no need for a football regulator or indeed any more wokery in the game, exemplified by the support for a questionable organisation such as Black Lives Matter, when the knee was taken before each game: the world’s best football meets the world’s best virtue signalling.

Just last week, I uncovered two coaching roles offered by Ipswich and Fulham, both specifically excluding white men from applying. Ipswich made the right choice and removed the racist ad; Fulham have not. These roles have been pushed by the Premier League itself. Match-going fans are overwhelmingly male and overwhelmingly white. They would be surprised to hear that clubs are banning them from applying for certain roles based on their skin colour. Racism is racism, even when white people are on the receiving end of it. I hope that all of us in this House call it out for the wickedness that it is.

We must eradicate the poisonous DEI from our beautiful game. Fans attend football to escape all that nonsense. A functional football team is the perfect analogy for any successful society, based on merit and merit alone. Fans do not want ideological lessons from their clubs; they want to watch exciting football, enjoy a beer and have a proper day out. Good for them, I say. All of us here need to leave them alone.

Those responsible for this Bill must also take full responsibility when the premier league inevitably wanes as the woke do-gooders perpetrate the damage that history teaches us is inevitable. The Chancellor speaks oxymoronically about trying to revive our financial markets by regulating for growth, after the Financial Services and Markets Act 2000 destroyed London as a centre where capital meets risk. You do not regulate for growth; you deregulate for growth. We do not need this interference by tyre-kicking regulators in our national game. Judging by this debate, the Secretary of State for Culture, Media and Sport looks like she is pretty handy on the terraces. I say to her, in football lingo: you don’t know what you’re doing.

[Madam Deputy Speaker (Ms Nusrat Ghani)]

I call Luke Murphy. Is it your birthday?