Speeches by Glen.

“I was the Economic Secretary for four and a half years. Therefore, we had a lot of interaction—me as a Treasury Minister—with the FCA. That was a situation where there was a market failure. It was deemed to be partly the responsibility of the FCA to have stopped that from happening. What happened was that there was an …”

“To examine one of those that happened on my watch with London Capital & Finance, there was a situation where there was a—”

“That is all right up to a point. You are the longest-serving chief executive of the FCA. You have gone through a massive transformation programme where you are trying to empower decision making further down the organisation. You must have an instinct. We as politicians want you to succeed and we want the economy and th…”

“Of course, there will be plenty of people who will have been quite satisfied because they did not know what had happened. They did not know what they did not know. Now they are retrospectively going to have the opportunity, as with PPI, to take advantage, potentially, of a redress mechanism. It does beg the question ab…”

“Blame me!”

“We did.”

“Can I move on from that? I want to come to Mr Alder’s speech where you set out, as you mentioned in your opening remarks, the default to cash savings and consumer readiness to take on risk. Arguably, what has happened, because we do not have the advice guidance boundary in the right place, is that we do not have a comf…”

“Thank you very much, Chair. Can I focus on the risk trade-off, if you want to characterise it as that? One of the big challenges in the Mansion House speech was when the Chancellor spoke about the post-financial crisis tendency to develop a system that has tried to eliminate risk taking. Do you agree that that is what …”

“I thank my hon. Friend for introducing this subject. My constituent Annie Riddle has lived in the Harnham district of Salisbury for 34 years, and her four dogs have been left in the state of trembling wrecks as a consequence of the random use of fireworks. Does my hon. Friend agree that better public education on just …”

“The right hon. Lady will be aware from her constituency of the economic value that HOME has brought as a venue for theatre and the arts. In Salisbury, we have a new executive director of Salisbury Playhouse. Will she ensure that, when thinking about regeneration, Ministers from the Department for Culture, Media and Spo…”

“The hon. Gentleman is being very generous with his time. In view of the point that has just been made by my right hon. Friend the Member for Stone, Great Wyrley and Penkridge (Sir Gavin Williamson), will he not consider, at the very least, looking at some dispensation for farmers above a certain age, given the lack of …”

“Let me tell the Minister what concerns me most. There has not been an impact assessment, but if the major driver for the Government, whether we accept it or not, was to raise some money from this source, why were other more effective mechanisms not used, such as business roll-over relief, where a business could be sold…”

“I recognise there are political differences across the House, but the hon. Gentleman surely has to be concerned about the overall impact of the decision on national insurance on the ability and inclination of those who invest in the real economy to generate the wealth and tax revenues that will sustain the economy goin…”

“It is a privilege to contribute to the debate. I represent Salisbury and south Wiltshire, which has a large number of farmers. A large number of them visited me here in the House of Commons and, a week later, I had the largest meeting of farmers I have ever had in Salisbury. They were gravely disappointed and concerned…”

“That is a massive consumer detriment at the moment, isn’t it?”

“After year one.”

“I think it would be worth going back to the original question, because this is the core issue you face as representatives of the industry.”

“One thing that has been cited in the conversation this morning is the negative consequences for consumers of being dependent on cash—“safe”—savings and low-risk products, and not defaulting to others. My experience of the consumer protection narrative is that—if I think of Mr Postings and some of his members—there is a…”

“I want to follow up on one thing you said about the reforms at Mansion House. We have always said that this whole aspiration of pooling pensions funds is the right thing to do, starting with local government. Mr Celic, you talked about culture. Are the Government being robust enough in placing hard stops here to say, “…”

“Sorry to interrupt, but in the context of the increase in national insurance contributions, it is unrealistic to expect that to be added in the short term. Basically, you are saying that we should have a 10 or 15-year plan, with the changes in pension age, for example, so that industry is certain about those milestones…”