Speeches by Baldwin.

“You both raised the point about homes, but Flood Re does not cover business access to insurance. I have a community, Tenbury Wells, where the flood defences do not yet have the full funding and they have not been built. Businesses and even the town council building cannot get insurance at all. What conversations are yo…”

“Oh, you are as well. Fantastic. One of the reasons that Flood Re was set up was to help homeowners in flood-prone areas such as my constituency of West Worcestershire to get insurance for their properties. Flood Re wants to ensure that the Government do their part by spending enough money, in terms of capital, on flood…”

“That £7.9 billion over a decade sounds like it is less than £1 billion a year. I just wondered whether that troubles you as members of Flood Re.”

“All of you, except for Scottish Widows, are members of Flood Re. Is that correct?”

“You do not recognise that criticism.”

“Have any of your regulators ever requested that, should you come in and have a private meeting with one of our members, you need to report that back to them?”

“Is that the answer you all want to give, that you will follow up in writing?”

“I wondered, with the proposals that the FCA currently has out in terms of non-financial misconduct rules, whether your firms are supportive of what it is proposing? Everyone has gone silent on that.”

“You would want to see Flood Re continue beyond 2039.”

“Anyone else?”

“We have spoken about Flood Re. There is also Pool Re, which is a collective for terrorism insurance. Is there a need in the UK for any other kind of “re”, such as cyber-security re? Is there anything else that you think is a gap in the market where our constituents cannot get the right kind of cover?”

“It would be great if you could let me know how many of your flood claims you are turning down and what the reasons are. That would be really helpful.”

“I thank the Minister for advance sight of his statement. We welcome the release of volume 1 of the Post Office Horizon inquiry final report and I put on record my thanks to Sir Wyn Williams and the inquiry team for all the work that they have done, alongside all those who gave evidence. This inquiry lays bare one of th…”

“With all due respect to the Chief Secretary, the Chancellor really should be here to answer this urgent question because the financial markets are extremely concerned about her wellbeing—the financial markets which, by the way, are asking for a 10-year yield now that is considerably higher than after the Liz Truss Budg…”

“It is great news for the babies of Britain that a cross-party consensus has broken out about the importance of the very first days of life. I welcome that the family hubs and the Start for Life programme have morphed into the Best Start family hub programme, with cross-party support. Will the Secretary of State outline…”

“So you would anticipate that, if there were political pressure due to British Steel or a bioethanol plant closing because of tariff issues, politicians would come under pressure to do something about it, but the National Wealth Fund would be immunised from that by these strategic steers?”

“Lord Livermore, when we received evidence from a panel of academics last week, they all described the words “National Wealth Fund” as a misnomer. Can you talk us through the thinking of why this organisation was called the National Wealth Fund?”

“I just wondered how proactive the Office for Investment is. We had Siemens on the panel last week. It had not been made aware of it. It has a huge investment portfolio in the UK. I would have thought that it would be the sort of company that the Office for Investment would be trying to reach out to proactively, saying,…”

“So you would anticipate that, if there were political pressure due to British Steel or a bioethanol plant closing because of tariff issues, politicians would come under pressure to do something about it, but the National Wealth Fund would be immunised from that by these strategic steers?”

“We just heard from Mr Flint that this is a way of taking debt issued by the Debt Management Office and deploying it to crowd in. It is a money-losing organisation at the moment, but there is a vision for how it might contribute to the nation’s economic growth. As a Treasury Minister, how would you describe your role? H…”