Mini-tender Offers: Protection for Shareholders

Debate between Baroness McIntosh of Pickering and Lord Stockwood

Wednesday 15th July 2026 Lords Chamber

[Lord Stockwood (Lab)]

The Digitisation Taskforce and the access to data have many benefits, not only on promotions but for the issuers of shares to understand where exactly the shareholders are on their cap tables. We hope that that increased awareness of where shareholders and those transactions are will be covered by the current taskforce’s recommendations.

[Baroness McIntosh of Pickering (Con)]

My Lords, my noble friend has identified one category of vulnerable small shareholders. There is an increasing problem of scams, to which smaller shareholders are most at risk. What cyber security is being extended to that category of risk?

[Lord Stockwood (Lab)]

I am sorry, what was the question?

[Baroness McIntosh of Pickering (Con)]

Scams: fraudulent activity where people masquerade as a company wanting to buy back the shares—impersonation. Online shareholding accounts are particularly vulnerable to this type of activity.

[Lord Stockwood (Lab)]

Part of the FCA’s consumer duty is to ensure that consumers are well informed and protected. The Home Office has issued another policy on protection from particular scams. I am happy to write to the noble Baroness with the specific duties. The FCA has a consumer duty overall and that would fall within that somewhat.

Royal Mail

Debate between Baroness McIntosh of Pickering and Lord Stockwood

Monday 8th June 2026 Lords Chamber

[Lord Stockwood (Lab)]

It is really important not to conflate Royal Mail delivery and the Post Office, but Ofcom is committed to the universal post offering and the targets, so I will have to write to the noble Lord on this particular question, because this was the extent of what I researched for this particular Answer.

[Baroness McIntosh of Pickering (Con)]

Does the noble Lord share my concern that perhaps the postal service and the Royal Mail are focusing too much on parcel delivery and not enough on a universal letters service that plays to elderly populations in rural areas? If we go fully digitalised and if we lose the postal service, it would be a very retrograde step for that group of people.

[Lord Stockwood (Lab)]

The noble Baroness raises a really important point about making sure the universal service offering is not to the detriment of people who are remote or not digital. Its CEO has confirmed that Royal Mail is focused on improving all aspects of its service across postage and parcels. The Government will be putting pressure on Ofcom to ensure that Royal Mail improves all its services without detriment to any particular user group.

Land Covenants: Supermarket Chains

Debate between Baroness McIntosh of Pickering and Lord Stockwood

Wednesday 4th February 2026 Lords Chamber

[Lord Stockwood (Lab)]

I share some of the views that the noble Lord put over. As I have learned from my 20-plus years in business, the role of government is to set the regulatory conditions so that business can do the work in growing the economy. What we are seeing from the Government is a commitment to reduce the regulatory burden overall. Our Regulation Action Plan commits to reducing the £22 billion annual burden by 25%. There are reforms in place, and the unlocking business consultation means that we will take direct feedback from the market. It is beholden on us to ensure we set the conditions for businesses to thrive, while also ensuring that we have the right regulation in place so that we do not see the abuses of power that have been suggested by these particularly restrictive covenants.

[Baroness McIntosh of Pickering (Con)]

My Lords, does the Minister agree that the CMA also has a role to play in looking at the work of the Groceries Code Adjudicator? There is a great imbalance of power between the big supermarkets and the very small horticultural businesses and fruit growers in this country. Does he agree that it would be better if the Groceries Code Adjudicator could take an own-initiative inquiry off its own bat, rather than waiting for a producer to come forward with a complaint? That producer could so easily be identified and possibly lose their contract with the supermarket.

[Lord Stockwood (Lab)]

In my relative newness to government, I thank the noble Baroness for her questions. Overall, it is correct that the CMA’s regulatory framework should have independence. I would love to pick up that discussion outside the Chamber; I do not know the detail of that, but it sounds like an important thing that we should follow up on.

Employee Car Ownership Schemes

Debate between Baroness McIntosh of Pickering and Lord Stockwood

Monday 8th December 2025 Lords Chamber

[Lord Stockwood (Lab)]

I thank my noble friend for the reminder. I agree that the net-zero transition creates the most attractive and best use of our capabilities in the UK. I am happy to support his comment.

[Baroness McIntosh of Pickering (Con)]

My Lords, given the distances in rural areas to charging points for those with electric cars, is it not a bit of an own goal to impose an upper mileage charge at this stage?

[Lord Stockwood (Lab)]

I thank the noble Baroness for her question. I do not believe that that is the case. We have a commitment to our climate goals, while balancing fairness in our tax take.