Speeches by Glen.

“Is that not what is required to free you up? There is this interplay of well-meaning but contradictory dynamics between Parliament and the regulator, which means we are asking you to do two things at the same time. We are asking you to enable growth while taking account of a vast range of additional things.”

“Could I turn to the relationship between the non-bank sector and the risks to PRA-regulated firms? In your last answer you focused on this. It leaves quite a few things hanging in terms of how this might play out and therefore what the PRC might do proactively to get to a better place on this. Could you say something a…”

“For the benefit of those watching, what does that look like? Could you give some examples?”

“We are talking about direct lending, mezzanine funds, private debt funds, crowdfunding, hedge funds and peer-to-peer lending.”

“But all of the others?”

“In your answer you say, “As liquidity is withdrawn the quality of this lending, and privately issued currencies, will be revealed”. That sounds like, “Well, we will see what will happen”. Those reading or hearing that will think, “What more should the PRA be proactively looking at to avoid the eventuality that that is …”

“The Government have made their decision on that. There is an ongoing issue. I know of some places that have works under way and were planning to retrieve some VAT but might not be able to now, and there has been publicity about that. That might come up in the debate, but my purpose is not to focus on that but to focus …”

“Thank you for the opportunity to present this application. I represent the constituency of Salisbury, which has a large number of churches and a cathedral. I have taken an interest in various matters in this space since my return to the Back Benches, and it has occurred to me in conversations with colleagues across the…”

“Excellent—thank you.”

“In reality, Parliament does not really decide. We do our best, but we are not somebody with all your experience. What I am trying to get at is that your commitment to those global standards, which I respect and I am sure the Committee broadly would agree with, has to sit alongside the opportunity, within the optimisati…”

“That is great.”

“Can I move you on to Basel III implementation and the consistency point? Often, representatives of banks used to say to me, “We are concerned that the ECB or the US are going to take a different line or come up with a different interpretation”. In, I think, answer 7 in your written evidence, you talk about the importan…”

“You have mentioned strong and simple proactively a number of times as a regime for smaller deposit-taking banks, but we have a sense from the Government and some who offer commentary on these matters that there is an expectation that, as my colleagues have alluded to as well, there is a sub-optimal level of regulatory …”

“Can I go back to this issue of the secondary objectives of the PRA and how you view them? You have competition on the one hand and international competitiveness and growth on the other. Could you start by explaining, so that members of the public who are watching can understand, how you view the trade-offs and the way …”

“Your judgments are instrumental in framing the operating environment for these companies to be successful.”

“We will drill into two specific examples. The Solvency II changes were consequential of the opportunities that came post Brexit. There was a really deep, fundamental dispute between the PRA judgment on what could change with the matching adjustment and what the insurance industry would say was totally acceptable in a w…”

“Seven years ago this week, on the orders of Putin in the Kremlin, my constituents faced the Novichok incident, which had an enormous impact on their lives for several months. In the end, Dawn Sturgess died. Please may we have a debate on the position of Russia in the world at a time of changing geopolitics? It is absol…”

“During their eight months in government, what assessment have the ministerial team made of the productivity of the civil service? What measures are they putting in place to improve it, and will the Minister report back to the House?”

“I welcome the Minister’s progress in this area. I visited IBCA on 30 January and was impressed by the professionalism of the team. Since then the Minister has made himself accessible so that I can give him feedback. One issue that has come up is the need for recipients of payments to sign non-disclosure agreements or t…”

“The hon. Lady is making a passionate speech and has done a great job of bringing us all to this Chamber. I lived through Reading’s trials through my stepson who is a season ticket holder— obviously, my first love is for the Whites in Salisbury. Does she not recognise the fundamental challenges of disturbing a market th…”