Speeches by Glen.

“May I probe a little more? The capital held by the top UK banks, I think you would acknowledge, significantly exceeds the losses incurred in the financial crisis, and it is enough to absorb the losses implied by the latest Bank of England stress test—I think three times over. Does that not imply room for bolder decisio…”

“Do you think that?”

“I want to probe around the impact that the regulation of banks has had on the development of private credit. As I understand it, you regulate banks in one way and it creates an incentive, or not, to find returns elsewhere. When it goes into that private credit situation, it is not within your oversight but, as you have…”

“Could I briefly turn to AI? You said in your response that “AI introduces new forms of model risk” such as the risk that “failures can be opaque”. I recognise that you are not fully up to speed on all of this. There seems to be a concern that AI is of great value, and we do not want to kill its application and value en…”

“Over the past 21 months, the Minister has worked tirelessly to try to build on the consensus across the House on the legislation that I put through on 21 May 2024 in order to make the scheme work, and I pay tribute to the work he has done. He has listened carefully to a whole range of inputs on an extremely complicated…”

“If we now have a more sophisticated understanding of an individual’s need, and if the provision required to meet that need across society has reached a cost and breadth that is so significant, how do we provide for that given the finite budgets that exist?”

“The hon. Gentleman is making a very moving and powerful speech, but is not the reality that if every single EHCP was properly diagnosed and the need expressed, it would impose an honest but unachievable burden on the state? Will he acknowledge that and address how we come to terms with it?”

“I will not have any more time, so I will not. Let us not peddle a dishonesty by saying that we are going to deliver a perfect system. Frankly, we have got to the point where we need to look at the definitional parameters and get to a more honest conversation about how we are going to actually deal with this problem.”

“I do, but I want to address the key point that I think we all have to acknowledge. Between 2014 and 2023, there was a 140% expansion in the number of EHCPs to well over half a million. In generating that volume of demand, Members in all parts of the House—no matter who is in government—have to be honest about whether, …”

“When addressing this subject, I think of the 16 years of surgeries I have had where parents have come in to explain their profound dissatisfaction with the way in which the evaluation of their child’s needs has been conducted. One of the most powerful examples was a constituent who came to me and said that their son ha…”

“Of course I do. This is where the problem is. If we move towards a standardised provision that is driven by central Government or a latest orthodoxy, we risk missing the flexibility that should and needs to exist on an individual basis. There is a core point about which I am still uncomfortable. In a situation where, a…”

“I represent Salisbury hospital, which has one of the eight specialist spinal units in the country. I am a member of the all-party parliamentary group on spinal cord injury, which is chaired by the hon. Member for Middlesbrough and Thornaby East (Andy McDonald). We are very concerned about the Government’s plans to comm…”

“I welcome the actions that the Government are taking to restore trust in NS&I, and to take the appropriate compensation measures. I was in the Treasury for a while, and I had conversations with the previous chief executive—the one prior to 2023. Like the Minister, I took advice from my officials on what assurances …”

“And the strategy does not say that, does it?”

“What would the money be for, then?”

“You are not assured at the moment that that money is being allocated directly?”

“I know that the panel has a lot of expertise in this subject. Ms Pender, is there anything you would like to say on it?”

“Let’s just try to nail this issue. A wide range of organisations work in this space—financial capability and financial education. You obviously have the Government’s decision on education. You have the Money and Pensions Service, Fair4All Finance, schools themselves, charities and individual firms. I seem to recall tha…”

“Please may I follow up, Ms Undy, on the issue of insurance? When we have insurance industry representatives here, they tell us that this is a bit like a black box—there is nothing to see. The FCA has previously looked at these things and said there is no evidence. How do we, as a Committee, get to the bottom of the pro…”

“Do you think the FCA is being proactive enough in getting into the minutiae on this specific area?”