Financial Services and Markets Bill

Debate between Peter Grant and Andrea Leadsom

Consideration of Lords message
Monday 26th June 2023 Commons Chamber

[Dame Andrea Leadsom (South Northamptonshire) (Con)]

May I start by sending my condolences to my fellow Treasury Committee member, the hon. Member for Mitcham and Morden (Siobhain McDonagh)? Her sister will be greatly missed by Members across all parties.

I am delighted at the Bill’s progress. I congratulate my hon. Friend the Minister on all his work in taking into account the views expressed across the House. Of course, the existence of the Bill is a huge Brexit dividend in itself, enabling us to deregulate while strengthening financial services in the UK, which is in the top two financial services sectors in the world and creates up to 2 million jobs right across the UK.

So far, the Treasury Committee has proven to be a good overview body for the financial services and markets regulation that is coming back to the UK. That Committee has done a great job, and I can say that without appearing to boast because I was not on the Committee when it did that scrutiny. We have done a good job, and the Treasury Committee will continue to be the right place to provide the scrutiny and checks and balances that will always be needed in the financial services sector.

I point out, however, that their lordships need carefully to consider their approach to the Bill. Far from enabling us to seize the opportunity and recapture the initiative, they seem to be trying to over-burden the regulators, pinning them down with reports and further obligations and duties that would militate against the UK continuing to be one of the most successful places on earth for financial services.

[Peter Grant]

As a counter to that point, is the right hon. Lady as concerned as I am about the fact that, as well as being a successful breeding ground for financial services businesses, the United Kingdom is now seen worldwide as one of the best places to commit financial fraud?

[Dame Andrea Leadsom]

The hon. Gentleman raises an extremely important issue. He will know that huge efforts are being made to clamp down on financial fraud. It has been an insoluble issue over many decades, and of course, with advances with technology and so on, scammers and financial fraud continue to be a big problem, but that does not detract from the fact that the UK is hugely successful in financial services. I predict that the UK will also be hugely successful in green financial services around the world, enabling the net zero transition to take place using UK expertise and exports in that crucial area.

I was delighted to see the new competitiveness and growth objective, and that the PRA and FCA will be required to provide reports on how well it is being addressed. The Treasury Committee has taken evidence from both organisations, which welcome the opportunity to focus not just on stability but on how it affects our competitiveness around the world. That is important and represents a big opportunity for UK plc.

The complaints function is a great initiative that will definitely address the absolutely valid concerns of so many constituents across the UK about the poor behaviour in some of the responses to inquiries led by the FCA or the PRA. That independent, Treasury-led complaints function will be very important.

It is vital that my constituents in South Northamptonshire can have access to cash, so I am delighted that an obligation to ensure that that remains the case will be enshrined in this legislation. I share the concerns of the hon. Member for Hampstead and Kilburn (Tulip Siddiq) about the closure of banks. The Government initiative to create a new arrangement for post offices to provide “the last bank in town” services was a good one. I wonder whether over time we can expand that, because the loss of banks continues to be a big issue.

Business of the House

Debate between Peter Grant and Andrea Leadsom

Wednesday 13th March 2019 Commons Chamber

[Andrea Leadsom]

My right hon. Friend has indeed reached out to Members across the House, and the hon. Gentleman knows that full well.

[Peter Grant (Glenrothes) (SNP)]

Once again the Government are happy to use the most arcane and incomprehensible procedures when it suits them in order to frustrate the will of the House, and also to ignore them when it suits them to do so. The hon. Member for Rhondda (Chris Bryant), who is no longer in his place, has pointed out that the Government seem determined to cast aside the time-honoured tradition that if you put forward a motion and lose it once, it is gone. Also, if the Government have already decided, as they clearly have, when the crucial third vote will be held, surely it is another time-honoured tradition to have the courtesy to give the House such information now, rather than keep it for some other time. Will the Leader of the House give a commitment that when the meaningful vote is brought back and the discredited deal is rejected yet again, every member of the Government will honour the time-honoured tradition of three strikes and they are out?

[Andrea Leadsom]

I find it a bit odd that the hon. Gentleman is suggesting that we are using arcane procedures when we are actually using business motions and motions of the House that are by no means arcane. We are merely fulfilling the commitment that the Prime Minister gave to ensure that the House could vote on whether it wished to take no deal off the table and then vote on whether it wished to request an extension to article 50 from the European Union.

Business of the House

Debate between Peter Grant and Andrea Leadsom

Thursday 31st January 2019 Commons Chamber

[Andrea Leadsom]

I am very sympathetic to the hon. Gentleman’s request. I certainly have my fair share of constituents who have struggled with the CMS. I encourage him to seek a Backbench Business debate in the first instance, so that all Members can share their concerns.

[Peter Grant (Glenrothes) (SNP)]

On 15 March last year, I raised the anomalous and ridiculous situation whereby vulnerable constituents of mine either qualified or did not qualify for cold weather payments, depending on which postcode area they lived in. The Leader of the House advised me to raise that with the Department for Work and Pensions, which assured me that the matter was under review. This week, the same thing happened again—constituents in KY5 got the additional payment, while equally vulnerable constituents in equally cold conditions in KY6, KY7 and KY8 got nothing. Can we have an urgent statement from the Secretary of State for Work and Pensions to explain what has happened to that review and how much longer my constituents and others have to endure this ridiculous postcode lottery to get the financial support they need?

[Andrea Leadsom]

I am sorry to hear of the situation for the hon. Gentleman’s constituents. He will be aware that the warm home discount scheme, measures on improving energy efficiency and the energy company obligation form part of the Government’s determination to ensure that people can keep themselves warm in winter. I suggest that he raises his constituency concern in a written parliamentary question to the Department.

Business of the House

Debate between Peter Grant and Andrea Leadsom

Monday 10th December 2018 Commons Chamber

[Andrea Leadsom]

I assure the hon. Lady that it will happen.

[Peter Grant (Glenrothes) (SNP)]

I cannot be the only Member who has turned down a number of requests to attend pre-Christmas constituency events this week. People understood that I had to be here because of the business, but now they understand that none of us needed to be here today.

Not for the first time, for purely party political advantage, the Government have played fast and loose with parliamentary business by making last-minute changes. All that comes at a cost—the significant cost of unnecessary travel and accommodation booked by Members who would not have made those bookings had the Government come clean about their plans last week. Given that this week’s business has inexplicably and unexpectedly become much lighter, will the Leader of the House find time for a short debate on how much of that additional cost should fall on the taxpayer and how much should be refunded by the Conservative and Unionist party?

[Andrea Leadsom]

These are sitting days, and the hon. Gentleman’s duty, like that of all Members, is to be in the Chamber. If he chooses not to be here, that is a matter for him, but these are sitting days, and important business of the House will be dealt with tomorrow. We will consider the amendments to the Ivory Bill, and there will then be a very important debate on fuel poverty.

Business of the House

Debate between Peter Grant and Andrea Leadsom

Thursday 14th June 2018 Commons Chamber

[Andrea Leadsom]

The hon. Lady has raised an important public health issue, as she often does. I encourage her to raise it directly during Health questions next week.

[Peter Grant (Glenrothes) (SNP)]

A major healthcare provider in my constituency recently had to terminate the contracts of two dedicated, skilled professional members of staff because the UK Government had refused to grant them tier 2 visas so they could continue to work here. If they had wanted to work in London, their salaries would have been high enough and they would have been allowed to stay. Their dedication to returning to work in Fife is shown by the fact that they are both continuing to run up significant expenses to keep their homes in my constituency. May we have a debate in Government time so that the Secretary of State for the Home Department can be made fully aware of the direct impact of his Government’s policies on the health of my constituents?

[Andrea Leadsom]

I think we would all want to pay tribute to the many people who have come from other countries to work in our health service, and who have done so much to support the health of the population of the United Kingdom. As the hon. Gentleman will know, discussions are under way about the issue of visas for immigrant healthcare workers, and I am sure that my right hon. Friend the Home Secretary will update the House as soon as he is able to do so.

Business of the House

Debate between Peter Grant and Andrea Leadsom

Thursday 3rd May 2018 Commons Chamber

[Andrea Leadsom]

I am sure all hon. Members will be pleased to see that the new Home Secretary is the son of immigrants to this country and has made clear his personal commitment, based on his own experiences, to ensuring fair and sympathetic immigration procedures.

On the hon. Lady’s specific question, we are considering a range of options for the future immigration system, and based on evidence we will set out initial plans and publish a White Paper in the coming months, with a Bill to follow. That new system will be based on evidence, including from the Migration Advisory Committee, and on engagement with a range of stakeholders, including businesses, universities, the devolved Administrations and NHS leaders. It is clear that people in the UK want this Westminster Government to be in charge of our borders, but to have a sympathetic and fair-to-all immigration system, and that is what we intend to have.

[Peter Grant (Glenrothes) (SNP)]

This afternoon’s Order Paper shows a Westminster Hall Back-Bench debate on the impact of social care on NHS provision. Members got barely 24 hours’ notice that this debate was going to be held, which obviously made it difficult for the Whips Offices to arrange speakers—yes, I was one of those who succumbed to the charms of those in the Whips Office and agreed to speak. Ironically, given that it looks as though the main Chamber business will finish well ahead of schedule, had that debate been scheduled in here it could have started as soon as the rest of the business had finished. As things stand, there is a good chance that everything else will have finished and that debate will then be carried on in a complete vacuum, giving very little prominence to an important subject. First, will the Leader of the House explain why Members received so little notice that that important debate was taking place? Secondly, will she look at the procedures of the House to see whether there is a way in which Westminster Hall business can be brought forward, as can business of the Chamber, if time and circumstances should permit?

Business of the House

Debate between Peter Grant and Andrea Leadsom

Thursday 15th March 2018 Commons Chamber

[Peter Grant (Glenrothes) (SNP)]

I am eternally grateful to you, Mr Speaker. May we have a statement from the Work and Pensions Secretary on the operation of the cold weather payments system? Constituents in most of my constituency were astonished to discover that it was not cold enough to trigger the payments during a week in which they were under 2 feet to 3 feet of snow, travel of any kind was impossible and they were subject to Scotland’s first ever red alert due to the danger from snow and ice. The problem is that the DWP does not measure the temperature in Glenrothes; it measures it 20 miles away in a coastal location almost 600 feet in altitude lower than parts of Collydean in my constituency. May we have a review, so that at least the residents of Glenrothes and Levenmouth will know that, while they have to deal with the same weather as everyone else, they will be entitled to the same financial support as everyone else?

[Andrea Leadsom]

The hon. Gentleman will be aware of the severe weather payments that are made available and of payments made to people who struggle to meet their own energy bills. Department for Work and Pensions questions are on Monday 26 March, a week on Monday, and his question would be an ideal one to raise then.

Oral Answers to Questions

Debate between Peter Grant and Andrea Leadsom

Thursday 25th June 2015 Commons Chamber

[Andrea Leadsom]

I am grateful to my hon. Friend for mentioning this to me. I had the great pleasure of speaking in Parliament at a recent east of England oil and gas meeting. I would be delighted to meet him to discuss this further, and if appropriate, we will certainly make sure that officials attend the meeting he mentions.

[Peter Grant (Glenrothes) (SNP)]

11. What estimate she has made of the number of jobs in Scotland supported by the renewable energy industry.