Speeches by Murphy.

“Mr Woods, I wanted to ask you some similar questions that I asked the Governor and members of the FPC yesterday. I wanted to ask you as the chief executive of the PRA but also as a member of the FPC. The FT reported last year that several senior members of the Bank had left the climate risk department, saying that staf…”

“But has the Bank responded to that additional focus in the remit?”

“If I may intervene, there is an additional focus on this point in the remit letter from the new Chancellor, so my question is, how has the Bank responded to that additional focus?”

“Just very quickly, moving on to firms; in 2024, Sarah Breeden told us that firms have done a lot to mitigate the risks of climate change, but that there was still a huge amount to do. Could you set out what progress you think firms made in 2025 in mitigating the risks of climate change and what more they have to do?”

“Do you acknowledge that in the latest remit letters from the current Chancellor an additional focus has been put on climate and nature compared to the previous remit letter in 2023? How has the Bank responded to that additional focus?”

“I wanted to ask first about climate risk and the Bank’s capacity; secondly, I have some questions about firms. The FT reported last year that several senior staff members had resigned from the Bank saying that they had not been empowered to take climate risk seriously as part of mainstream supervision. They also cited …”

“Mr Bailey, in response to Mr Grady’s question about the prosecutions in the US, you referred to the importance of the independence of the Fed. I just wondered whether you perceived, recognised or felt any similar threats to the Bank of England’s own independence, and whether you have a strategy to mitigate them?”

“Basingstoke has a rich cultural heritage, from world-class venues such as the Anvil and the Haymarket, to creative spaces such as Proteus Creation Space, heritage sites such as Basing House and wonderful museums such as Milestones and the Willis Museum. It has also been the home and shaped the lives of Jane Austen and …”

“11. What steps her Department is taking to help ensure that the new town of culture and UK city of culture 2029 competitions support communities.”

“I congratulate the Secretary of State and his team on today’s announcement, not least because it draws such a stark contrast. He has announced the largest ever offshore wind auction in history, whereas one of his predecessors came to this House to announce the largest ever Government energy subsidy to households in his…”

“The TaxWatch report claims that you are behind your target on compliance and debt management recruitment. It said that, as of September 2025, you have recruited only 744 of the 5,500 new compliance staff promised.”

“I understand that you do not want to publish the ways in which people could get around the system, but, on the offshore tax risk, you mentioned that there was an indicative figure. Is that something that you would consider publishing?”

“HMRC has told the Public Accounts Committee that you have no estimate for the offshore tax gap. TaxWatch has claimed in its recent report in 2025 on the state of tax administration that HMRC has an estimate of what it calls offshore tax at risk, but you are refusing to publish it. Could you confirm whether you have an …”

“On people not being told about things at a general election, I wonder how many people were told in the 2019 election that the Prime Minister—then Boris Johnson—would be replaced by Liz Truss and then the right hon. Member for Richmond and Northallerton (Rishi Sunak)? Is it not the point that things change over the cour…”

“T3. Since 2021, energy network firms have pocketed £4 billion in excess profits under the previous price control regime, known as RIIO-2, set under the previous Government. Those costs are borne by all our households through inflated energy bills. With Ofgem’s new price control regime, RIIO-3, now published, can the Mi…”

“Happy new year to you and your team, Mr Speaker. I welcome the Government’s neighbourhood policing guarantee, which puts named, contactable officers in every community, and indeed the increased presence of patrols in the Top of the Town in Basingstoke. However, as the Minister knows—we have corresponded on this issue—o…”

“21. What recent steps her Department has taken to help increase levels of community policing.”

“I am sure that Austen would agree and, as we do not have a sea coast in Steventon, that she may have admired the hon. Gentleman’s area more than most. Local children in Steventon still climb the old lime tree where Jane and her brother once played more than two centuries ago—a living reminder of the world that helped t…”

“I beg to move, That this House has considered the cultural contribution of Jane Austen. It is a delight to serve under your chairship, Mr Efford. I am really grateful to have been granted this opportunity to recognise and celebrate the legacy of one of our nation’s greatest authors, if not the greatest: Jane Austen. Ma…”

“Does the Minister want to intervene on that point? No? I am sure he will elucidate that in good time. Austen’s enduring cultural impact is felt not only on a global scale, but powerfully at a local level, where it continues to shape and enrich Basingstoke’s vibrant film and arts scene. From the literary legacy of Jane …”