Thomas Cook

Debate between John Bercow and Rachel Reeves
Wednesday 25th September 2019

(4 years, 6 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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Order. To this point, the erudition of questions has been equalled only by their length. Unfortunately, there is a premium on time, as we have other matters with which we have to deal, so I appeal to colleagues to cast aside pre-written scripts and to confine themselves to single sentence—preferably short sentence—questions, without preamble, so that we can make progress.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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The BEIS Committee believes that Thomas Cook’s directors and auditors have serious questions to answer. In the past five years, £20 million in bonuses has been paid to directors, and the company has now gone under with debts of more than £3 billion. Will the Secretary of State for Transport confirm that the directors of Thomas Cook will not be able to continue as directors at any other firm until the Insolvency Service has completed its investigation? Will the Government commit to replacing the FRC with a regulatory framework that holds directors to account, as our Committee has called for?

Spring Statement

Debate between John Bercow and Rachel Reeves
Wednesday 13th March 2019

(5 years, 1 month ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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The hon. Member for Manchester Central (Lucy Powell), who is ordinarily known for her buoyant and enthusiastic smile, was gesticulating at the Chancellor to speed up. I think she was auditioning for the role of Speaker, and presumably seeking to give the right hon. Gentleman a masterclass in brevity, notwithstanding her desire often to make her own point with enormous eloquence but at not inconsiderable length—but we will see.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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In today’s forecast from the OBR, GDP growth this year is being revised down by 0.4%. The largest downward revision is to business investment—a downward revision of 3.2%. Business investment is now expected to shrink by 1% this year after shrinking by 1% last year. The Federation of Small Businesses says today that confidence is at “rock bottom”. The CBI says on tariffs that there has been

“no consultation with business and no time to prepare”,

and that this is

“a sledgehammer for our economy.”

Does the Chancellor recognise that businesses are losing patience with this Government and that unless businesses invest and help to grow our economy, productivity and wages are going to stay at rock bottom? What is he going to do to reverse this incredibly worrying and dangerous reduction in business investment?

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Wednesday 13th February 2019

(5 years, 2 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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Order. In wishing the hon. Lady a very happy birthday and hoping that the House will join me in doing so, I call Rachel Reeves.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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Thank you, Mr Speaker—21 again.

My constituent Harriet recently gave birth to her baby three months premature. When Harriet was due to return to work, her baby had only recently come out of hospital, and she had to choose between taking additional time off work but struggling to pay the bills or returning to work but missing crucial bonding time with her baby. The Government had committed to reviewing the issue by the end of January, but we are now halfway through February. Will the Prime Minister commit to taking action and to extending parental leave for the parents of children who end up in neonatal wards?

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Tuesday 12th February 2019

(5 years, 2 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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On a point of order, Mr Speaker.

John Bercow Portrait Mr Speaker
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I am extraordinarily grateful to the hon. Lady, but I think it can wait.

John Bercow Portrait Mr Speaker
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No, I think it can wait. I look forward to it with interest and enthusiasm, but—

Rachel Reeves Portrait Rachel Reeves
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It relates to the questions.

John Bercow Portrait Mr Speaker
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It may do, but the Prime Minister is waiting to address the House, and I think that people want to hear her. We will hear the hon. Lady in due course.

European Union (Withdrawal) Act 2018

Debate between John Bercow and Rachel Reeves
Tuesday 29th January 2019

(5 years, 2 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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I will not give way, because of the time, if that is okay.

My amendment is very simple. It calls on the Government to extend article 50 in the event that we do not have a deal by 26 February. The Prime Minister could still come back to the House on 13 or 14 February and if she can get her deal through Parliament, the amendment will become irrelevant. The Prime Minister still has another month to secure agreement, but the amendment would give us further time if that is necessary. My amendment does not specify an amount of time for which we should extend article 50. It would be up to the Government to agree that with our counterparts in the European Union.

My amendment differs from amendment (b) tabled by my right hon. Friend the Member for Normanton, Pontefract and Castleford. My right hon. Friend, rightly, is trying to secure through legislation an extension to article 50 if needed, because so many of us have lost trust and lost faith in this Government. They have let us down on too many occasions. My amendment does not seek to go as far, although I very much support her amendment and will be voting for it this evening.

There are many alternatives, so let us explore them with the time that we have left. Let us try to find consensus and compromise. Let us not box ourselves in, get this wrong and have to live with the consequences either of a bad deal or of crashing out without a deal. We are all under conflicting pressures. We have duties to our constituents and obligations to our parties, and we must also listen to our consciences. I believe that, on such issues, we must put those interests aside and act in the national interest. We must rise to that challenge when we vote this evening.

My message to right hon. and hon. Members about the merits of my amendment, and why I hope they will support it, is straightforward. If they voted to leave and want to see Brexit resolved but are worried about the danger of a no-deal Brexit, it would remove that risk. If they are pushing for a Norway-plus solution, it would keep open that possibility. If they are looking to protect environmental standards, consumer and workers’ rights, the customs union and a strong single market deal, it would allow them to continue making that argument and win it. If they want a people’s vote, but accept that the immediate priority must be to take no deal off the table, it is a key part of that process.

With the countdown clock ticking down by the day, we must all work together and agree a way forward by joining forces to end any prospect of a no-deal Brexit. We must have time to come up with a workable solution. We must not let down our country and crash out of the European Union without a deal, so I urge hon. Members to support my amendment.

John Bercow Portrait Mr Speaker
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A five-minute limit now applies.

Proxy Voting

Debate between John Bercow and Rachel Reeves
Tuesday 22nd January 2019

(5 years, 2 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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I do not wish to promote sibling rivalry, so I call Rachel Reeves.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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I am the older sister, yet I have been called second today—we will be having words later, Mr Speaker.

I too thank the hon. Member for East Dunbartonshire (Jo Swinson) for asking this urgent question, and the Leader of the House for answering it. May I just check the procedure for Monday? Is the intention to table a motion that we can vote on, or will it be introduced at the end of the day, in which case there is a risk that one Member will shout “Object” and stop the proposal going through? I know that the Leader of the House is trying to do the right thing, but we are all keen to ensure that we have proxy voting in place by the end of Monday.

Andrea Leadsom Portrait Andrea Leadsom
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Having had three kids, I have discovered a very useful piece of information, which I wish now to share with the hon. Lady: the oldest child makes the rules, the second child is the reason the rules are needed, and to the third child the rules do not apply. She is absolutely right to raise this issue. We have debated proxy voting a number of times and want to get on with it, so the plan is to bring it forward for the House to nod through. She is therefore quite right that if somebody objects, I will need to look at further measures, which I will do in very short order. This is the quickest way to get it through. Following that, as you have said, Mr Speaker, you will ensure that the detailed procedures are ready immediately thereafter. That will then need to be signed off by you, the Prime Minister, the Leader of the Opposition and the leader of the Scottish National party’s Westminster team. Once those signatures have been received, it will be possible for proxy voting to take place on the next sitting day.

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Tuesday 4th December 2018

(5 years, 4 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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The Minister is absolutely right. I have learned more about Taunton Deane in the past three years than I knew for the previous 52—that is correct.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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Many refugees are fleeing religious persecution. The Archbishop of Canterbury has said that Christians in the middle east are on the brink of extinction, facing the worst crisis since the 13th century in the birthplace of Christianity. What are the Government doing to support Christians in the middle east and to grant asylum to those who are fleeing that persecution?

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Wednesday 28th November 2018

(5 years, 4 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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Order. May I say to the hon. Lady, who is perched, poised and about to pounce with a point of order, that ordinarily points of order come after urgent questions and statements? If there is some peculiarly compelling reason why the matter should be aired now, because it somehow flows from proceedings, I am happy to hear it, on the assumption that it is brief.

Rachel Reeves Portrait Rachel Reeves
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On a point of order, Mr Speaker. Have you been made aware of why the Chancellor is unable to respond to the urgent question? This is an incredibly important issue about the future of our country. He has found plenty of time to visit the television and radio studios this morning. He should be in this Chamber right now.

John Bercow Portrait Mr Speaker
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I am grateful to the hon. Lady for her point of order, and I recognise that she chairs an important Select Committee of the House, but the short answer for her, and for the benefit of the House and others attending to our proceedings, is that who the Government field to respond to an urgent question that I have granted is exclusively a matter for the Government. I think that the hon. Lady knows that—I take her puckish grin as testimony that she is aware of the fact—but she has registered her disapproval with the force and alacrity that we have come to associate with her. Meanwhile, however, we will hear the urgent question and the Financial Secretary to the Treasury will reply.

Business, Energy and Industrial Strategy Committee

Debate between John Bercow and Rachel Reeves
Thursday 17th May 2018

(5 years, 11 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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I absolutely agree. The Government need to get on with negotiating with the European Union, rather than negotiating with their Back Benchers and even within the Cabinet. We need certainty. We need certainty on our access to the single market, we need certainty on our membership of the customs union, and we need certainty on the regulatory framework that will apply after we leave the European Union. Without that, it is incredibly difficult for businesses to plan for the future, to secure the jobs and investment that we need in this country, and, in the case of medicines and pharmaceuticals, to ensure that patients have access—timely access—to the best drugs, and new drugs.

John Bercow Portrait Mr Speaker
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In a moment, I shall call the hon. Member for Manchester, Gorton (Afzal Khan) to make an application for leave to propose a debate on a specific and important matter that should have urgent consideration under the terms of Standing Order No. 24. The hon. Gentleman has up to three minutes in which to make such an application.

GKN: Proposed Takeover by Melrose

Debate between John Bercow and Rachel Reeves
Tuesday 27th March 2018

(6 years ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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May I ask the Secretary of State why it took until three days before shareholders had to vote on this bid for you to write to Melrose to get some assurances, which are frankly pretty limited? It is too late in the day now for you try to drive a harder bargain—not you, Mr Speaker; you would drive a very hard bargain. The Secretary of State says it is still possible to call this in, but the takeover has been hanging over GKN and its employees and wider stakeholders for more than two and a half months now. What more information do you need to gather to decide whether to call this in? When will the Secretary of State finally make a decision on whether or not to call this in? It is too late now, isn’t it?

John Bercow Portrait Mr Speaker
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Order. Before the Secretary of State replies, I say this with great courtesy to the Chair of the Select Committee. It was in fact raised at the morning briefing meeting which I chair, accompanied by the Deputy Speakers and senior procedural advisers, that there has been an unhealthy tendency recently for Members to start using the word “you”. In case people observing our proceedings wonder what the fuss is about, “you” refers to the Chair, and debate must be conducted, as ordinarily the hon. Lady would do, through the Chair, and Members are referred to in the third person. There is good reason for that: it preserves the basic civility of our exchanges. I accept that it was accidental—the hon. Lady, in her passion, got carried away—but we must now return to good order, exemplified, I am sure, by the characteristic courtesy of the Secretary of State.

Points of Order

Debate between John Bercow and Rachel Reeves
Monday 21st March 2016

(8 years, 1 month ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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I say to the right hon. Lady and the House only that I have no knowledge, or way of possessing knowledge, about what is or is not being briefed to a particular newspaper at a given time. To meet her concern head on, the Chancellor will be in the House tomorrow. I understand that he is winding up the debate, but it is customary for a Minister who is winding up a debate to attend most of it, so there will be ample opportunity for colleagues to air their concerns. I hope she will understand if I say that I prefer not to entertain hypothetical situations. I always thought that Lord Whitelaw was very sound when he said that on the whole he preferred not to cross bridges until he came to them.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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On a point of order, Mr Speaker. The Secretary of State for Work and Pensions says that he wants to listen to disabled people. There is a case in the Supreme Court at the moment. Paul and Sue Rutherford, who are constituents of the Secretary of State, won an exemption from the bedroom tax in the High Court, and that case is now in the Supreme Court. If the Secretary of State wants to listen to disabled people, perhaps he could listen to his own constituents and stop fighting tooth and nail against that exemption.

John Bercow Portrait Mr Speaker
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I wish gently, although not too gently, to reprove the hon. Lady. The shadow Secretary of State made at least a half-hearted attempt to conceal his political observation within the guise of a point of order. There was really no such attempted disguise on the part of the hon. Lady. Her point may or may not have been valid, and it might well relate to a case that is sub judice, but whatever else may be said of it, it is not a matter for the Chair. We will leave it there for today. She has got her point on the record.

Flooding

Debate between John Bercow and Rachel Reeves
Tuesday 5th January 2016

(8 years, 3 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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It is a pleasure to welcome back the hon. Member for Leeds West (Rachel Reeves).

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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Thank you for that welcome, Mr Speaker.

The flood envoy for Yorkshire suggested in the Yorkshire Evening Post today that the scheme that would have protected Kirkstall will be reinstated, but that is not my understanding. Will the Secretary of State indicate whether that scheme will be resurrected? If it had been in place, businesses on the Kirkstall Road would not have been devastated by the floods on Boxing day. We can never allow that tragedy to happen again—what will the Minister do?

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Monday 3rd November 2014

(9 years, 5 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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On a point of order, Mr Speaker.

John Bercow Portrait Mr Speaker
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A point of order will come after questions. If it relates to these matters—[Interruption.] No, there is discretion. Exceptionally, I can take it after Question Time if it relates to these matters.

Rachel Reeves Portrait Rachel Reeves
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It relates to the Secretary of State’s answer.

John Bercow Portrait Mr Speaker
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That is fine: I can take it after this questions session, most certainly.

--- Later in debate ---
John Bercow Portrait Mr Speaker
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As I indicated earlier, I will take the point of order because it relates to these matters.

Rachel Reeves Portrait Rachel Reeves
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On a point of order, Mr Speaker. The Secretary of State criticised me for not turning up to vote on an Opposition day motion last week. He knows nothing of why I was not able to attend last week. I kindly ask him to withdraw his criticism and apologise for the aspersion that I could not be bothered to turn up to vote in the House of Commons.

--- Later in debate ---
John Bercow Portrait Mr Speaker
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Order. We cannot have a protracted exchange on this one matter. However, if the hon. Lady wishes to add anything further, I am content that she should do so.

Rachel Reeves Portrait Rachel Reeves
- Hansard - - - Excerpts

Thank you, Mr Speaker. I was not in Rochester last week. I will give the Secretary of State one last opportunity to withdraw the aspersion and apologise. He knows nothing of the reason why I was not here last week, so I ask him to withdraw the aspersion and apologise.

Iain Duncan Smith Portrait Mr Duncan Smith
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I stand by my assertion that the hon. Lady did not vote and that her name was not on the Order Paper.

Points of Order

Debate between John Bercow and Rachel Reeves
Tuesday 8th July 2014

(9 years, 9 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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On a point of order, Mr Speaker. The ministerial code of conduct makes it clear that Ministers must give accurate and truthful information to Parliament, correcting any inadvertent error at the earliest possible opportunity.

On 11 June, I asked whether the Department for Work and Pensions’ business case for the implementation of universal credit had been approved by the Treasury. In her reply, the employment Minister, the Minister of State, Department for Work and Pensions, the right hon. Member for Wirral West (Esther McVey) said:

“The Chief Secretary to the Treasury has approved the UC Strategic Outline Business Case plans for the remainder of this Parliament (2014-15) as per the ministerial announcement (5 December 2013, Official Report, column 65WS)”—[Official Report, 30 June 2014; Vol. 583, c. 434W.]

When asked yesterday whether the Treasury had signed off the business case for universal credit, Sir Bob Kerslake told the Public Accounts Committee:

“I think we should not beat about the bush. It has not been signed off.”

This morning, in response to a parliamentary question asking whether the Treasury had signed off the business case, the Financial Secretary to the Treasury said:

“The Treasury have approved funding for the Universal Credit programme in 2013-14 and 2014-15.”——[Official Report, 7 July 2014; Vol. 584, c. 124W.]

In other words, the straightforward answer to the question whether Has the Treasury approved the DWP’s business case for the implementation of universal credit is no. That is the reverse of what the employment Minister said.

Mr Speaker, will you explain to the House the process whereby a Minister can correct the record?

John Bercow Portrait Mr Speaker
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I am grateful to the hon. Lady for her point of order. Every Member of the House is responsible for the veracity of what he or she says in it. As she will be aware, and other Members will know, there is a procedure available to Ministers if they need to correct the record. It is open to them to do so by coming to the House and setting the record straight if they judge that appropriate. In so far as issues appertaining to the ministerial code are concerned, the House will be aware that I am not responsible for compliance with the code. That responsibility rests elsewhere. I think it is best to leave it there for now, and I am happy to see whether there is any development that causes the matter to be brought before the House again.

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Monday 24th February 2014

(10 years, 1 month ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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Yes, we have put in a freedom of information request, because we did not think that the Secretary of State’s numbers were correct, and, as it turns out, they are not. The FOI request shows that with 194 out of 346 councils having responded so far, a staggering 21,500 people have been wrongly paying the bedroom tax, including 4,198 in Tory local authorities, so perhaps they have got their numbers wrong too. There are 275 in Tory Chester, 200 in Tory Peterborough, 234—

John Bercow Portrait Mr Speaker
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Order. I am sorry, but the question is too long. I have got Back Benchers to accommodate, so I know that the final sentence, which will be a short one, is on its way.

Rachel Reeves Portrait Rachel Reeves
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Instead of trying stealthily to close the loophole, will the Secretary of State now do the right thing and scrap the cruel and hated bedroom tax?

Housing Benefit

Debate between John Bercow and Rachel Reeves
Tuesday 12th November 2013

(10 years, 5 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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First, as the hon. Lady knows, the Government’s policy is retrospective whereas in the private sector it is not. Also, the discretionary housing payments are not nearly enough to cover this. In my constituency in Leeds—[Interruption.] The hon. Lady has asked the question; perhaps she will listen to —[Interruption.]

John Bercow Portrait Mr Speaker
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Order. There is far too much noise—a complete cacophony of noise—on both sides of the Chamber, such that the Chair cannot even hear what is being said. I recognise the strength of feeling on both sides, but I appeal to Members, as I have said many times before, to have some regard for the way in which our proceedings are viewed by people outside this place, who would hope for some seemly conduct.

Rachel Reeves Portrait Rachel Reeves
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Thank you, Mr Speaker.

In Leeds, where I am a Member of Parliament, two thirds of the budget has been used with less than half the year gone, despite the fact that the council has topped up the discretionary housing payment pot to help as many people as possible, so that money is not nearly sufficient to help all those who are hit, particularly disabled people.

Income Tax

Debate between John Bercow and Rachel Reeves
Wednesday 28th November 2012

(11 years, 4 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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Order. In using the word “honest”, it should be taken as read that Members are always honest in the Chamber.

Rachel Reeves Portrait Rachel Reeves
- Hansard - - - Excerpts

Thank you, Mr Speaker.

The increase in the top rate of tax from 40p to 50p was introduced to help to reduce the deficit because the last Labour Government thought that it was right that those with the broadest shoulders paid a little bit more towards achieving that. The fact that this Chancellor has reversed that and is reducing the top rate of tax shows that he thinks exactly the opposite—that his priorities are not with ordinary working people but with the richest 1%. [Interruption.]

LIBOR (FSA Investigation)

Debate between John Bercow and Rachel Reeves
Thursday 28th June 2012

(11 years, 9 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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I start by thanking the Chancellor for advance notice of his statement, which was handed to me at 12.19 pm—two minutes before he delivered it. [Hon. Members: “Where’s Balls?”] As my right hon. Friend the shadow Chancellor is addressing the Local Government Association’s annual conference in Birmingham, I am responding for the Opposition.

Nine months ago, the Leader of the Opposition talked about “irresponsible, predatory capitalism”, of which this is one of the worst cases yet. The public had been assured that the banks had cleaned up their act. Ordinary borrowers and savers were told they could trust the banks again, but these unfolding revelations shine a new light on shocking practices in one of Britain’s most important banks. What should have been an impartial process of reporting independent interest rate statistics became an exercise in cooking the books, cheating the system and fixing the market.

Financial stability and the effective regulation of our banking and wider financial services industry are vital for stability, for consumers to save and for businesses to invest. Getting the balance of regulation right is an important task for the Government, especially when hundreds of thousands of jobs depend on the industry and when all of us and small businesses in all our constituencies rely so much on the financial services sector.

There are three areas in which I have questions for the Chancellor, the first of which is dealing with the people who are responsible. Are those responsible in the banks being held—[Interruption.]

John Bercow Portrait Mr Speaker
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Order. This is an extremely serious matter which warrants serious consideration. Let it be absolutely clear to hon. Members on both sides of the House that if they want to shout out, they will not be called to ask a question on the statement. They should not shout, but if they think they are going to shout and then be called to ask a question, I am afraid they are rather deluded.

Rachel Reeves Portrait Rachel Reeves
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Thank you, Mr Speaker. I could not agree more with you about the importance of this issue.

On dealing with those who are responsible, are those responsible in the banks being held accountable, or will this whole thing just return to business as usual? Are criminal investigations progressing, and which law authorities will be leading the conspiracy and fraud cases that might arise? Has the Chancellor reflected on the consequences for competition and has he considered involving the Office of Fair Trading, the Serious Fraud Office or the City of London police? We need to know who knew what and when, and criminal prosecutions should and must follow against anyone who might have broken the law.

Millions of home owners with variable rate mortgages, small businesses with floating loans and consumers who depend on affordable credit could have lost money because of what amounts to a price-fixing scandal. What support will be available for individuals and small businesses who have potentially lost out because of the market fixing and who contact the Financial Ombudsman Service or the bank directly? Is the FSA also investigating the role of the bank’s auditors in tracking and reporting the manipulation of the figures between the rate submitters and the traders involved? What is happening to ensure that other banks that have manipulated markets in a similar way are brought to justice?

Secondly, what is being done to prevent anything like this from happening again? We raised our concerns with Treasury Ministers about the regulation of LIBOR recently. On 6 March, during a debate on the Financial Services Bill about the set of unregulated financial activities that the Chancellor evidently felt should remain unregulated, the shadow Financial Secretary, my hon. Friend the Member for Nottingham East (Chris Leslie), asked the Financial Secretary directly about the

“billions of pounds of trades that are subject to the LIBOR rating”––[Official Report, Financial Services Public Bill Committee, 6 March 2012; c. 359.]—

and why that might need to be regulated. When asked whether he had a view—any view at all—about ending self-regulation, the Financial Secretary to the Treasury had a one word answer: “No.”

The Chancellor made a conscious decision to exclude LIBOR from the Financial Services Bill in its current form, even when he must have known that a massive FSA investigation into precisely that matter was under way. The reputation of the City of London and our financial services sector is at stake. Instead of Ministers’ saying that the Treasury has no view, surely we need swift action to prevent the market abuse? Will the Chancellor urgently revisit his decision not to regulate LIBOR arrangements and instead amend the Financial Services Bill, which is still before Parliament?

Thirdly, a much wider issue is the culture in the City of London. As Bob Diamond said only last year, culture is about

“how people behave when no one is watching,”

but people in his organisation thought they could do anything they liked, just to make a fast buck. They thought they would never be held to account and that they were effectively above the law. We cannot allow Britain to become a place where the privileged and the powerful act according to their own set of moral standards. That is why we are calling for the strongest punishment for those who have broken trust and broken the law, tough regulation to prevent such practices in future and a culture change in our banking industry. We must get our economy working for the majority, not just a few at the top. The Government must act.

Changes to the Budget

Debate between John Bercow and Rachel Reeves
Monday 11th June 2012

(11 years, 10 months ago)

Commons Chamber
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.

Each Urgent Question requires a Government Minister to give a response on the debate topic.

This information is provided by Parallel Parliament and does not comprise part of the offical record

Rachel Reeves Portrait Rachel Reeves
- Hansard - - - Excerpts

I thank the Minister for his answer, but regret the absence of both the Chancellor and the Chief Secretary to explain this series of U-turns.

This statement leaves a number of questions unanswered. On 16 April, the Exchequer Secretary told the House:

“The same approach should apply to mobile caravans as to static, non-residential caravans, and to a hot pie served in a fish and shop and one served in a bakery.”—[Official Report, 16 April 2012; Vol. 543, c. 130.]

On 12 April, in relation to the proposed cap on income tax relief for charitable donations, he said:

“The policy that we’ve announced is a sensible one.”

What new evidence has come to light since then and during the recess that has led the Government to change their mind? The reality is that the facts have not changed. This is a Government who do not like to be held to account for their mistakes. The Minister has tried to make a virtue out of the Government’s abandonment of policies that prove to be unpopular and unworkable by saying that they are listening. However, failing to do the necessary work on a policy before announcing it and then sneaking out a reversal when they hoped no one was looking is not consultation—it is total incompetence. Is it not the truth that this Government were so desperate for money-making measures that they took from whomever they thought they could, hoping to get away with it? The result: a total and utter shambles of a Budget.

The mistakes that are still in the Budget are, however, the worst ones of all: a tax cut for millionaires while asking millions to pay more, and no plan for the jobs and growth that we desperately need to get our economy back on track and our deficit down. As the Minister and his colleagues are making such a virtue of listening and of their readiness to change course and make the occasional U-turn, perhaps now they will listen—to the millions of pensioners hit by the granny tax; to the millions of families hit by cuts to their tax credits; to the 1 million young people out of work; to the businesses struggling to break even; and to everyone in this country suffering from the double-dip recession made in Downing street and crying out—[Interruption.]

John Bercow Portrait Mr Speaker
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Order. The House needs to calm down, on both sides. I remind the shadow Chief Secretary to the Treasury that the narrow focus of the question covers changes to the announced policy. I know that she will concentrate on that narrow matter, as this is not a Second Reading debate on the Budget.

Rachel Reeves Portrait Rachel Reeves
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Given the number of U-turns that the Government have made in the past two weeks, it is difficult to know where to start. Will they now change course on the biggest mistakes in the Budget—cutting tax credits for working families, the granny tax and cutting tax for millionaires while asking ordinary people to pay more? The country is crying out for the Government to change course and to get a grip on their policies, which dug us into this hole and this recession.

Points of Order

Debate between John Bercow and Rachel Reeves
Tuesday 24th January 2012

(12 years, 2 months ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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On a point of order, Mr Speaker. The International Monetary Fund has today revised its growth forecast for 2012 downwards, from 1.6% to 0.6%, and asked the Government to reconsider the pace of their deficit reduction plans. Have you had any indication that the Chancellor plans to come to the House to give the Government’s response?

John Bercow Portrait Mr Speaker
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I have received no such indication, but I am sure that the hon. Lady will pursue these matters through the Order Paper and in other ways if she is dissatisfied with the position as it stands.

Oral Answers to Questions

Debate between John Bercow and Rachel Reeves
Monday 26th July 2010

(13 years, 8 months ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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We will take it as a rhetorical question.

Rachel Reeves Portrait Rachel Reeves (Leeds West) (Lab)
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3. If he will take steps to ensure that no major Government policy announcements are made when the House is not sitting.