Oral Answers to Questions

Debate between John Glen and Desmond Swayne

Tuesday 21st May 2019 Commons Chamber

[Sir Desmond Swayne (New Forest West) (Con)]

Is not the greatest threat of uncertainty to the Scottish economy the prospect of a second independence referendum?

[John Glen]

Absolutely. Another divisive referendum within 18 months would be completely contrary to what the First Minister said five years ago, which was that it was a “once in a generation” event. It would absolutely be a real crisis for Scotland.

Oral Answers to Questions

Debate between John Glen and Desmond Swayne

Tuesday 9th April 2019 Commons Chamber

[John Glen]

As my hon. Friend knows through his excellent work with the dispute resolution service, there are some avenues for businesses to go down. Many—virtually all—lenders have now signed up to the standards of lending practice, and that, alongside the expansion of the Financial Ombudsman Service’s jurisdiction, gives businesses the assurance they need.

[Sir Desmond Swayne (New Forest West) (Con)]

12. What steps he is taking to improve the performance of the financial services sector.

Oral Answers to Questions

Debate between John Glen and Desmond Swayne

Tuesday 5th March 2019 Commons Chamber

[John Glen]

The Ministry of Justice is looking at that, and will present its response to the call for evidence later this year.

[Sir Desmond Swayne (New Forest West) (Con)]

May I suggest that the answer to the question from my hon. Friend the Member for Kettering (Mr Hollobone) is £185 billion?

[John Glen]

I always take my right hon. Friend’s words very seriously, and I am sure that he must be right.

Oral Answers to Questions

Debate between John Glen and Desmond Swayne

Tuesday 11th December 2018 Commons Chamber

[John Glen]

I am grateful for the hon. Lady’s question. The automotive issue is related to other factors, including diesel. The Government are focused on investing in infrastructure in the north-east. I think that she would be very pleased to know that since 2010, we have had 66,000 new jobs in the north-east as a consequence of more business growth.

[Sir Desmond Swayne (New Forest West) (Con)]

I can introduce my hon. Friend to manufacturers who find it significantly easier to export to the rest of the world than to the EU. Is there a lesson in that?

[John Glen]

I think my right hon. Friend is right to say that the Treasury is looking at growth opportunities across the whole world, and that is why the Chancellor set out in his Mansion House speech the aspiration to have global financial partnerships that make the best of those opportunities.

Oral Answers to Questions

Debate between John Glen and Desmond Swayne

Tuesday 16th January 2018 Commons Chamber

[John Glen]

I am familiar with the hon. Gentleman’s situation and his correspondence with the Financial Conduct Authority. I believe that he has met FCA representatives. The FCA has strong powers to ban products. It has unlimited fines at its disposal and it can order repayments. As the hon. Gentleman knows, 51% of applicants for loans will receive the advertised rate, and those are the terms that the FCA works to.

[Sir Desmond Swayne (New Forest West) (Con)]

When will incentives to save exceed those to borrow?

[John Glen]

Obviously I do not have a crystal ball, and as the economy grows, different patterns of behaviour will ensue. It is not for the Government to tell people what to do; we are trying to secure a growing economy in which people have the choice.