Speeches by Coghlan.

“Thank you, Minister. More broadly on the Budget, given 30-year gilts hit the highest level since 1988 last week, how worried are you that increases in the tax yield from the changes in the Budget do not materialise and that you break fiscal rules? How are you monitoring this risk?”

“One specific tax reform that I have been reading about from London Business School research is allowing full expensing of intellectual property transactions, non-R&D ones, because that incentivises companies to import existing innovation and has a faster pay-off than R&D. Is that something that you have considered or s…”

“Minister or Mr York-Smith, are you able to give me specific examples of where you will reform the tax code to boost economic growth, rather than to raise revenue?”

“Do you think that the private sector will prefer lower rates of tax or that stability? Which you think is more important to the private sector?”

“As a father of three little girls, I find much to welcome in the Bill. Part 1 speaks to improving children’s social care and I particularly support the provisions on accommodation for looked-after children. The whole country was saddened and shocked by the murder of Surrey child Sara Sharif. Sadly, there are other stor…”

“I pay tribute to my hon. Friend as Sara’s MP for raising the horror that has taken place. Of course, I agree that data sharing between public authorities is vital to ensure that such a case does not happen again. But it is not enough, and, alone, it will not prevent the catastrophic and systematic negligence of Surrey …”

“I fully agree with my hon. Friend. Surrey county council failed to abide by existing legislation, so how on earth are we meant to believe that new legislation alone will be enough? I share his concerns about Claire. I know from my constituents that there are children in Surrey who are at risk right now. That is why I a…”

“I commend my hon. Friend the Member for Tunbridge Wells (Mike Martin) for securing this vital debate. There are many veterans in this Chamber; one in nine Liberal Democrat MPs has served in the armed forces. We know the price of freedom—many of us have seen it written on the grave of a friend. There are tens of thousan…”

“Many of my constituents have been affected by flooding overnight, but it has been particularly bad in Horley, where for the second time in recent months people’s homes have been flooded by raw sewage. Will the Minister meet me to discuss what can be done to hold Thames Water to account in operating its sewage works—par…”

“Yes.”

“You have bigger liquidity issues with that.”

“Mr Rathi, you make an excellent point on financial education and the new curriculum. Are we overcomplicating this? From my perspective, with financial literacy, if you look at equities for any 15-year period over the last 120 years, they have outperformed pretty much every other investment class and you have made a fan…”

“Yes. How do you prevent the FCA from becoming liable if you start urging people to take more risk and then they lose 30% of their money next year? Is that a risk for the FCA?”

“Just a quick question from me because we have kind of touched on it already. It is on the FCA versus your international peers. There is obviously scope for significant deregulation in the US following the presidential election. Is that likely to pull the FCA between the EU and the US if there is further divergence betw…”

“I am talking about failure of the fund manager, for example.”

“Briefly on the point that Ms Blake made about lack of trust, perhaps one of the reasons for that is the fear of firm failure that you mentioned earlier. Is there more that needs to be done in terms of protecting consumers’ investments and money in the event of investment firms’ failure, or more that you could do to rea…”

“Yes; education is needed. Finally, Mr Alder, with this lazy capital, you were saying we should put it to more productive use. There is a tension between whether that is boosting UK investment versus international investment. Obviously, the FTSE 100 has significantly underperformed over the last five years or so. How is…”

“It was just a general example.”

“Exactly, after year one, if they lose 30% of their money. Firms are maybe scared of recommending that, which goes to your point about consumer education or understanding, because of the psychological impact of that loss. I am thinking specifically about the collapse of Neil Woodford’s fund recently. To be clear, I do n…”

“On the subject of risk, I fully think there is an issue with the fee structure in the industry, and I would like to disclose that I used to work in investment management. Is there an issue with understanding the realities of equity investing? If you invest in equities, there is a very good chance that you are going to …”