Speeches by Yang.

“We will look into Will Stone’s suggestion about “the regulation of” rather than “the service charges of” and also the substantive wording. Great; thank you.”

“Many of my residents in new build estates, including freeholders and leaseholders alike, say that they have had informal residents’ association conversations about trying to leave their current property manager, but they cannot because they have embedded management arrangements in their property deeds that essentially …”

“I am not familiar with the wording for substantive debates. I don’t know whether anyone—”

“Is it the same case for you, Mr King?”

“So many families in Reading, including my own parents, decided to accept positions in the UK and bring their children over on the promise of a stable educational future. We know how transformational education can be for children’s ability to contribute to the economy in future. Does my hon. Friend agree that we must en…”

“Mr Bland, coming on to the regulators: you have already mentioned the Mutuals Landscape Report and how that has deepened the understanding of regulators and the Bank on the situation facing your sector. Is there anything missing from that report that you would have liked to have seen?”

“But that is on the side of Treasury rather than the regulators’ understanding?”

“Is this at the very early stages of setting out a timescale for those projects? Where are you in that project establishment?”

“Ms Harrison, is there anything from your perspective that you would like to see in the report?”

“We will come on to that next.”

“Have you been in conversations with the FCA or the PRA about the “What next?” part of the picture?”

“We will come on to the capital requirements a bit later, but aside from that area, Mr Bland, is there anything else you would like to see in the action plan?”

“Mr Bland, I saw you shake your head. Do the regulators have it wrong when they assess that many societies are holding capital well in excess of their requirements?”

“Yes, in terms of the regulations.”

“Do you see that central unit as a Government or an independently run unit, or more as another credit union that takes on powers to clear accounts across credit unions?”

“You have both talked about the need to reform capital requirements. What specific changes would you like to see?”

“On capital requirements, you say the UK has requirements in excess of international comparators. In the Mutuals Landscape report, the regulators write that many societies hold capital well in excess of UK requirements. Given that the level of capital that your members hold is still well above even the UK requirements, …”

“Mr Bland, what about your conversations with the regulators on the “What next?”?”

“The FCA and the PRI say that many societies hold capital well in excess of their regulatory requirements, and it is not regulatory requirements that drive this excess accumulation of capital; there is something else going on in the sector. Do they have the right appraisal? Is that the appraisal you would make of the se…”

“I thank the Home Secretary for the Government’s focus on funding for neighbourhood police patrols, which has enabled Thames Valley police to form a new anti-shoplifting unit in Reading. Retail crime is still far too frequent and blatant in our shops. Will the Secretary of State or her Ministers come to visit the newly …”