argyrotsipi/train-dataset huggingface dataset:
Engagements — House of Commons, 2021-09-22
Topic: Mixed Topics
Angela Rayner (Labour, Centre-left): The hon. Member for High Peak (Robert Largan) makes an important point that I think Members across the House are concerned about. I join the Deputy Prime Minister in his comments regarding the work of GPs and our local primary care services I begin by offering my commiserations to the Prime Minister after he flew away to the US and made absolutely zero progress on the trade deal that he promised us Does the Deputy Prime Minister still believe that British workers are "among the worst idlers in the world"?
Engagements — House of Commons, 2021-09-22
Topic: Mixed Topics
Angela Rayner (Labour, Centre-left): The Deputy Prime Minister talks about the economy; he does not even know how much his own holiday cost. Let me tell him: a worker on the minimum wage would need to work an extra 50 days to pay for a single night at his favourite resort—and probably even more if the sea was open The very same week that the Government are cutting universal credit, working people face soaring energy bills. The Prime Minister has said that it is just "a short-term problem" and we will leave it to the market to fix. Can the Deputy Prime Minister guarantee that no one will lose their gas or energy supply or be pushed into fuel poverty this winter?
Violence Against Women and Girls: Police Response — House of Commons, 2021-09-22
Topic: Other
Lindsay Harvey Hoyle (Labour, Centre-left): I remind all hon. and right hon. Members that the House’s sub judice resolution means that cases in which proceedings are active, including where charges have been made, should not be referred to during questions. I am sure that all Members will wish to respect that resolution, especially where there is a prospect of court cases in the future. Nobody would want to put those cases at risk.
Violence Against Women and Girls: Police Response — House of Commons, 2021-09-22
Topic: Civil Rights
Harriet Ruth Harman (Labour, Centre-left): Thank you, Mr Speaker. I am really grateful to you for granting this urgent question I thank the Minister for her response and welcome her to her new role and wish her well in it. I will support her in her work, but we need a greater sense of urgency. In just the last few days, there have been more horrific killings of women. In Sheffield, 35-year-old Terri Harris was killed together with three children, John Paul Bennett, Lacey Bennet and Connie Gent. In Greenwich, primary school teacher Sabina Nessa was only 28 years old Her Majesty’s inspectorate of police, Zoë Billingham, rightly describes this as an "epidemic" of male violence against women, and the extent of the impunity of men for this violence is shown by the killer of Sophie Moss saying that it was just "rough sex gone wrong" and literally getting away without a murder charge All credit to the Government for commissioning this report. Will they now implement its recommendations in full? We have a woman Homey Secretary, and I believe that women in leading positions have a special duty to deliver for other women. Although she will meet the inevitable institutional objections and traditional resistance to change, she will, if she does this, have 100% support from this side of the House and, indeed, 100% support from her own side. It is not often we can say this, but this is something that the whole House wants.
Violence Against Women and Girls: Police Response — House of Commons, 2021-09-22
Topic: Civil Rights
Janet Jessica Daby (Labour, Centre-left): Sabina Nessa, a young teacher in Catford, had so much left to give our community. She was described by the headteacher as "kind, caring and absolutely dedicated to her pupils." Her life was brutally taken, like those of so many before her, through misogynistic violence. How many women’s lives must be stolen before the Government take serious action?
Violence Against Women and Girls: Police Response — House of Commons, 2021-09-22
Topic: Mixed Topics
Andrew John Gwynne (Labour, Centre-left): I welcome the Minister to her new post. On this issue, there has to be a culture change in society as well as in the police and the criminal justice system, because the common thread running through many of these crimes is a power differential between women and men. Too many men still feel entitled to do or say whatever they wish to women, to disrespect women and to harm them. What more is the Minister doing to tackle head-on the culture that is prevalent in too many men out there? What is she doing to change that culture?
Injunction to Protect the M25 — House of Commons, 2021-09-22
Topic: Mixed Topics
Yvette Cooper (Labour, Centre-left): There is an important right to peaceful protest in this country, but running on to motorways is just dangerous. It puts lives at risk, so the police and the courts are right to take action to keep people safe. Given the importance of COP26 and action against climate change, and given the strong feelings across the country, what action is being taken to make sure that there can be legitimate, safe and peaceful protests or demonstrations around COP26 so that lives are not put at risk and we do not see such dangerous behaviour?
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Gareth Thomas (Labour, Centre-left): I want to take the hon. Gentleman back to the point made by the hon. Member for Thirsk and Malton (Kevin Hollinrake). Is not the problem the fact that we are being asked by the Government to believe that, as a result of the Gloster report, the FCA has fundamentally changed and that there is not going to be a problem ever again with how the FCA regulates? Is there not a need for another body to keep oversight of the quality of financial regulation, and perhaps in particular over whether the FCA continues to do its job properly in the future?
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Gareth Thomas (Labour, Centre-left): I am sympathetic to the broad thrust of the amendment tabled by the hon. Member for Glenrothes (Peter Grant) and his concern, which I alluded to in my intervention, that the Government, and certainly the FCA, appear to be saying, "Don’t worry—we’ve had a change of leadership and everything is going to be all right now. You don’t need to worry about the quality of the regulation of investment firms going forward, or the implementation and enforcement of consumer financial regulation, whether in this case or more generally." I have some sympathy with the point of the hon. Member for Thirsk and Malton (Kevin Hollinrake) that we should be sceptical about such a claim. It is good that Treasury Ministers will be having a more regular dialogue with the FCA, partly as a result of this scandal As the House knows, I have taken a particular interest in the demutualisation of Liverpool Victoria. That is very different from the case of LCF, so it would not be appropriate for me to go into the particular details, but there are parallels in the treatment of Liverpool Victoria consumers and those of LCF products. Some of those parallels relate to the culture that appears to exist within the FCA. The all-party parliamentary group for mutuals received a letter from the FCA and one from the PRA, and they reveal that there have been almost 60 meetings between the regulators and the board of Liverpool Victoria, but not one meeting with its consumer-owners on its demutualisation. I wonder whether there is not a frog in hot water-type problem here, with the FCA so close to the Liverpool Victoria board in this case—and potentially to other financial firms—that it fails, perhaps accidently, to do its job on behalf of consumers with sufficient robustness I welcome the Dame Elizabeth Gloster report, which was excoriating in its findings. To pick out some key concerns, it said that there were "unclear" policy documents for use by FCA staff, a "flawed approach to the Perimeter" and a "failure to consider" the behaviour of particular businesses holistically. It also said that there was insufficient training of staff and pointed to confusion between Her Majesty’s Revenue and Customs and the FCA—our regulators—over the handling of particular issues I appreciate that the FCA has not only had a change of personnel but brought forward proposals for a consumer duty to try to rebuild some confidence. However, my problem with the duty, which it consulted on until the end of July, is that there is no sense of understanding the difference between consumers who also own a business—a mutual in this case—and consumers per se, or a willingness to take additional actions for consumers who are also owners. I worry about whether that additional duty will be robust enough.
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Gareth Thomas (Labour, Centre-left): The hon. Member invests an awful lot of confidence in me to predict what might happen, but I can well understand a Conservative looking to the Labour party for such guidance. I certainly hope that the consumer duty and better enforcement will help to prevent such a terrible debacle from happening again, because, as the House has rightly noted, many good people have lost an awful lot of money and deserve the compensation that the Bill will provide. However, many others who have been victims of similar cases would have also merited better protection from the FCA I will ponder aloud, in response to the Minister having some sympathy with the points made by the hon. Member for Glenrothes and my right hon. Friend the Member for Wolverhampton South East (Mr McFadden) in Committee, whether there is a need for a smaller body that does not just concentrate on the FCA but looks at some of the strategic issues around consumer protection and financial products in particular, and has a small number of inquiries each year looking at the performance of regulators in that regard, in part to help prevent a repeat of the LCF debacle As a model for such a body—I do not suggest it is perfect—I put on the Floor of the House, so to speak, the Independent Commission for Aid Impact, which the House uses to consider how our international aid money is being spent and the strategic challenges in that. It is a small, dedicated body that operates in a completely different sphere from this, but it produces important and useful reports that are used by the relevant Department, experts in the sector and, crucially, the International Development Committee. I wonder whether such a body would be appropriate to keep the PRA and FCA’s feet to the fire. It could be used by the Treasury Committee, and indeed other Committees of the House, to assess the quality of consumer financial regulation and the job that the FCA, PRA and other regulators are doing to protect consumers from any repeat of the LCF debacle.
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Gareth Thomas (Labour, Centre-left): The hon. Member may be right. I simply put out the idea at this stage, and I hope Ministers will be sympathetic to it, that we should not just accept the sense that, following Dame Elizabeth Gloster’s report, the payment of compensation and the introduction by the FCA of this new consumer duty, everything is suddenly all right in the world of consumer financial regulation. Perhaps Ministers on the Treasury Bench are inadvertently suggesting that. I think another step needs to be taken to hold the feet of regulators to the fire I will briefly raise two other concerns about financial regulation and some of the lessons that need to be taken from the LCF debacle, which the amendment from the hon. Member for Glenrothes helpfully gives me the opportunity to raise. The first is the idea that all the information available to the boards and the management of companies that has to be shared with the FCA and the PRA from time to time should be regarded as commercially sensitive. Clearly, there is genuinely commercially sensitive information that it is right for companies and businesses to keep for themselves. However, I fear—certainly in the case of Liverpool Victoria, which I have been looking at—that the excuse that information is financially sensitive is being used to deny consumers’ legitimate rights to know what the future holds for the business in which they have invested their savings or money. I gently suggest that that topic is worthy of a review in itself, potentially with changes to regulatory practice and, if need be, to legislation Lastly, the existence in legislation at the moment of provisions for so-called independent experts to look at the decisions that boards are taking in the context of demutualisations are a recipe for regulatory failure. In the case of Liverpool Victoria, independent experts are being appointed by the board, paid by the board and briefed by the board. Obviously, it is fairly easy to predict what the outcome of the independent experts’ work is going to be: to recommend largely what the board wants to happen. That is another issue that needs to be looked at I put those points on the record to suggest that Ministers should not be complacent about the quality of the FCA’s performance. There needs to be a bit more of a robust challenge and a look again at how financial regulation works.
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Patrick Bosco McFadden (Labour, Centre-left): I want to use the opportunity provided by the amendment to raise a few points, particularly about clause 1, and to put them to the Minister. I thank Dame Elizabeth Gloster and both the Treasury Committee and the Work and Pensions Committee for the work they have done on this issue The issues covered by the Bill have been widely set out in debates on Second Reading and in Committee. They include: the wholly deficient practices at the FCA that meant that hundreds of reports of harm were not acted on, which was described by Dame Elizabeth Gloster as an "egregious" failure of the FCA to fulfil its statutory duties; the fact that this failure allowed LCF to continue in operation for years longer than it might otherwise have, thereby multiplying the harm to investors; the reassurance at one point from the FCA that what was happening was not a scam; the impact of the halo effect in having a regulated firm selling unregulated products, leading unsuspecting investors to believe that these products were far safer than they actually were; the loss of a whistleblower’s letter three years before the firm’s collapse, and the damning conclusion from Dame Elizabeth Gloster that the loss of that letter probably did not make any difference, because the FCA was so dysfunctional that, even if it had not been lost, it would not have been acted on; the repeated failure to join the dots and the treating of each LCF transgression—for example, on its use of financial promotions—as an isolated incident, when instead it was a pattern of behaviour designed to use its regulated status to bolster confidence in unregulated products; and the public disagreement between Dame Elizabeth and the Governor of the Bank of England about the issues of responsibility and personal culpability I served on the Parliamentary Commission on Banking Standards, which said that "a buck that does not stop with an individual stops nowhere." That quote has been much used in the debate about this issue, which has raised sharply the limitations of collective accountability and the question of whether in this case the buck really stopped with anyone. Of course, most importantly of all, there is the issue of the distress and the financial loss to investors and the question of how they should be compensated. All of this has led to the Government stepping in with this Bill to authorise compensation up to a certain level for investors Based on the amendment, I want to put a number of questions to the Minister arising from the Bill. First, why has compensation been set at 80% of the Financial Services Compensation Scheme maximum of £86,000, not the full level? That is probably the main outstanding concern of LCF investors, who are grateful that compensation will come but who cannot understand the 80% cap given the manifest failures set out in Dame Elizabeth’s report. Are the Government completely fixed on this 80% figure, or is there any prospect of that being reconsidered?
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Patrick Bosco McFadden (Labour, Centre-left): The right hon. Member raises a very fair point. If we pluck a sum of money out of the air, it could be a lot of money to one person and perhaps less to somebody else, depending on their wealth Let me return to the questions for the Minister arising from the amendment and the Bill. The second is the important question of where the decision to compensate the LCF investors leaves investors in other firms where regulatory failure is alleged. Where has the bar now been set for future compensation in the event of regulatory failure? The taxpayer cannot stand behind every investment loss. Some investors will make money and some will lose. That is in the nature of a market economy. However, the question of compensation arises when there is a clear regulatory failure, because that is considered to be a different matter. Having come up with this scheme, where do the Government now draw the line How can we be sure this will not happen again? There are two aspects to this question. The first is the role of the regulator. The FCA is going through a transformation programme designed to ensure that changes are made to prevent a similar thing from happening in the future.
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Patrick Bosco McFadden (Labour, Centre-left): The hon. Gentleman makes a fair point. On how we can be sure that this will not happen again, and the transformation programme, it is to be expected that companies would go through such a programme, given the damning nature of Dame Elizabeth’s findings. There is also, however—and this is not just about this specific case—understandable public scepticism when a scandal happens, people talk about lessons being learned, there are some changes to management, and the organisation moves on. How do we ensure that, while understandable, such public scepticism is not justified in this case because something different is happening, and that we will not end up back here, some time in the future, debating another investment scam that was not spotted and acted on in time The second aspect to the question of how we can ensure that this does not happen again relates to legislative protections. This scam was promoted by a lot of online advertising. The online safety Bill is coming up, and at the moment paid-for advertising is excluded from that. Why should that be the case? Surely the LCF case shows that paid-for advertising must be included. As the Minister will be aware, there is a growing coalition behind the argument that the online safety Bill must offer greater protection against financial scams and fraud, and that is bound to be a major issue as the Bill goes through the House That issue is important, because consumers are being targeted every day with adverts, text messages, emails, and phone calls geared either to obtaining their financial details, or promising get-rich-quick schemes. As covid has pushed more of our lives online, it is imperative that legislation keeps pace with the increased use of online scams that are designed to strip people of their money. It is becoming more and more difficult for consumers to ascertain the difference between a genuine approach and a scam approach. We in this House have a legislative duty to keep pace with what organised criminals are trying to do.
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill — House of Commons, 2021-09-22
Topic: Domestic Commerce
Patrick Bosco McFadden (Labour, Centre-left): I am coming to the end of my remarks; I hope the hon. Gentleman does not mind. I leave the Minister with this: is it not better to try to stop people being ripped off in the first place, than to have to ask the taxpayer or, as in clause 2, members of pension schemes, to compensate people after such scams have already happened? I will leave it there, although I will later have a few remarks and questions about clause 2.
Subsidy Control Bill — House of Commons, 2021-09-22
Topic: Mixed Topics
Seema Malhotra-Saluja (Labour, Centre-left): I have been involved in extensive discussion with my colleagues, and they will want to make significant contributions in Committee to address the gaps in the Bill. We continue to work on that As I was saying, the Secretary of State should set out the timeline for consultation on and the publication of secondary legislation that covers critical aspects of the new system. I know the House will want to see that in good time Public bodies have faced significant difficulties since the start of this year precisely because of the lack of guidance on how to interpret the subsidy control principles agreed in the trade and co-operation agreement, so clarity on how public authorities should demonstrate that their subsidies comply with those principles will be an important part of the subsidy regime. I am sure the Secretary of State will agree that we will want to see some decisions being made in the interests of how we recover and how we are to grow our economy for the future On the important issue of devolution, most importantly of all we are concerned that the Bill has not taken the four-nations approach that is essential for an effective UK-wide subsidy control regime. For example, the balance of the power to challenge between the Secretary of State and the devolved Administrations is asymmetric. I am sure that the Secretary of State has heard those representations made to him directly. Twelve months ago, the shadow Secretary of State stood at this Dispatch Box and warned the Prime Minister of the risks of undermining with policy decisions the devolution settlement that has been part of our constitution for two decades and is vital to our Union. However, on the evidence of the legislation before us, it appears that a shift in mindset and thinking has not been a part of how the Government have brought forward this legislation, and we hope that they are going to listen to the concerns that we and other Members are raising.
Subsidy Control Bill — House of Commons, 2021-09-22
Topic: Other
Seema Malhotra-Saluja (Labour, Centre-left): Perhaps the hon. Member will allow me to continue with my remarks, because he has not quite represented our position. It is important that we continue the debate and detailed scrutiny of the Bill. The remarks that I am about to make may provide him with some reassurance on this issue.