Draft Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 Draft Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023

Debate between Kit Malthouse and Barry Gardiner

Tuesday 2nd May 2023 General Committees

[Kit Malthouse]

I am grateful for your indulgence a second time, Mr Gray. Again, in delving into the details of the legislation, I wish to urge a little caution about this regulatory approach. The trading of commodities and, in particular, commodities futures can have a huge impact on the price our constituents pay for ordinary goods in their everyday lives. In history, attempts have been made to manipulate those prices. In the 1950s, two traders attempted to corner the onion futures market in the United States. That resulted in the Onion Futures Act, which is still extant in the US and forbids the trading of onion futures. Similarly, we saw—in the 1980s, I believe—a 10-year project by a trader at Sumitomo bank to corner the copper market, which eventually collapsed and failed. The trading of commodities and commodities futures, particularly at a time when there is more and more algorithmic trading and artificial intelligence being used in trading, means that we should take care in this complicated area of regulation and legislation.

One thing I could not find in the information given to us on this SI was why the current rules were introduced. What problem were they trying to solve? I acknowledge the supposed cost of these calculations, while being a little sceptical about them, given the amount of automation that so many of these traders use. Nevertheless, that rationale has not been offered to us, so I would be grateful if the Minister explained why the original rules were devised as they were and what problem they were deemed to be solving. In the past few months, we have learned that we need to take care because our regulatory organisations are not always watertight on looking at systemic and structural risk in financial markets, commodities or otherwise.

[Barry Gardiner]

I was listening to the right hon. Gentleman’s argument on onion futures trading. How does he reconcile that? Does it not give the lie to his argument about NFTs? It shows precisely that anything can be traded as a derivative in that way and therefore there would be no specific reason—he previously outlined this—to put NFTs into the other regulation. I find that his arguments conflict.

[The Chair]

I call Kit Malthouse, to respond specifically on the SI that we are considering.

Metropolitan Police Service

Debate between Kit Malthouse and Barry Gardiner

Wednesday 29th June 2022 Commons Chamber

[Kit Malthouse]

My hon. Friend makes a strong point about our shared responsibility to support not only the police officers who do a brilliant job every day, but those who they seek to protect, and I agree. As I said earlier, if Sadiq Khan is not primarily responsible, I am not sure why he stood for election or why crime even featured on his election literature—I ask myself whether it will at the next election. He is absolutely the primary point of responsibility and he must step forward to take that mantle.

[Barry Gardiner (Brent North) (Lab)]

The Minister’s statement was unworthy of this House, and even of the Minister. The danger is that it takes the focus of the debate away from the failings of the Metropolitan police and puts it on to personal and political responsibility.

The Metropolitan police has been failing primarily in two areas. The first, as the hon. Member for Sevenoaks (Laura Trott) ably and rightly highlighted, is violence against women and girls, on which issue I have been working closely with my borough commander Sara Leach. Secondly, it has systematically failed on racism. I am fed up of people coming into my surgery because they are black and have been badly and violently treated or have had spurious prosecutions made against them by police officers. Mina Smallman’s two daughters were murdered in my constituency. It took two years for the Metropolitan police to get off its payroll the police officers who took photographs of them and circulated them to their colleagues and other people. That is a disgrace. I want to know not what anybody else is doing, but what the Minister will do to sort out racism and misogyny in the force.

Metropolitan Police: Strip-search of Schoolgirl

Debate between Kit Malthouse and Barry Gardiner

Monday 21st March 2022 Commons Chamber

[Kit Malthouse]

I completely agree with the hon. Lady that there are implications for safeguarding, and I know but will reassure myself that my ministerial colleagues at the Department for Education are taking it as seriously as we are. As I say, from a policing point of view we have to wait for the IOPC to come to a conclusion, but on the overall safeguarding, the panel obviously did its work, the review has produced a report and I will make sure that Ministers at the appropriate Department are taking action as well.

[Barry Gardiner (Brent North) (Lab)]

The bad apple defence or the isolated incident excuse will no longer wash. Our constituents are no longer able to trust the police, including constituents such as Teresa Akpeki, whose brother was the victim of a hit-and-run accident. The police, when they attended the body—this was an NHS worker collecting samples—did not reach into his pocket to find his ID card, but phoned the Home Office to find out whether he was an illegal immigrant, because he was black. The Minister now needs to launch an inquiry into the way in which the Metropolitan police is dealing with ethnic communities, and if he fails to do that, the confidence of our communities in the police up and down this country is going to be rock bottom.

[Kit Malthouse]

As I outlined earlier, there are already two inquiries into the culture of the Metropolitan police in all its aspects—by Dame Louise Casey, who I know will do a thorough job, and following that, part 2 of the Angiolini review—but I would ask the hon. Gentleman to take care. There are 30,000-odd police officers in the Metropolitan police, the vast majority of whom are doing an extraordinary job and doing amazing things on a daily basis to keep us all safe from harm, and they deserve our thanks for doing that. They will be as outraged as we are at this event, and we need to learn the lessons on their behalf as well as on behalf of the Londoners we serve.

Police, Crime, Sentencing and Courts Bill

Debate between Kit Malthouse and Barry Gardiner

Consideration of Lords amendments
Monday 28th February 2022 Commons Chamber

[Kit Malthouse]

I will come to the hon. Members in a moment.

I am sure that all hon. Members will recall vividly how proceedings in St Margaret’s church were intruded on by protesters’ noise when we were paying our respects to our colleague Sir David Amess. I am not sure we could call that intrusion damaging; if anything, it made us sing all the loudly and filled the church with an air of defiance as we mourned. However, we have to reflect on the fact that developments in amplification mean that noise can be used as a weapon and can cause significant psychological damage. This is why most local authorities have a noise enforcement team with powers to act. We need to recognise that, in a protest situation, noise could be used to make worship, business or residence impossible in particular premises, and our fellow citizens would expect protection from the police in those circumstances.

[Barry Gardiner]

To assure the House that there will be an objective standard rather than a subjective one, can the Minister explain either what decibel level there would have to be or for how long such a noise nuisance would have to continue for enforcing the powers to be reasonable and objective?

[Kit Malthouse]

As the House would expect, we are not prescribing limits in the way the hon. Gentleman is asking for, not least because the varying circumstances with which the police are presented mean that hard and fast rules do not necessary obtain. For example, it could be that one person with an amplifier attempting to drown out—I do not know—pursuit of worship in a particular church, temple or synagogue could be deemed over time to be a nuisance, and therefore be damaging and impinging on the rights of worship of others, whereas a crowd of individuals outside making a similar noise for a shorter time may not. As I have just laid out, I did not regard the noise that intruded on our grief in St Margaret’s as damaging—I would not have thought that that hit the bar—but if someone was outside the hon. Gentleman’s constituency office protesting day in, day out with a large and powerful amplifier, he might quite rightly in those circumstances seek protection from the police or indeed from the local authority. There is a series of these situations that the police are now presented with because of developments in amplification.

Birmingham Attacks and Extinction Rebellion Protests

Debate between Kit Malthouse and Barry Gardiner

Monday 7th September 2020 Commons Chamber

[Kit Malthouse]

My hon. Friend can be reassured that where a crime is committed, whether by a protestor or otherwise, it should and will be investigated and charges brought.

[Barry Gardiner (Brent North) (Lab)]

I disagree with XR’s strategy of targeting the press, but there is an irony in a Government who are renowned for avoiding the scrutiny of the mainstream media and happy to undermine the impartiality of the BBC and to welcome Fox News to these shores, now posing as the protector of free speech in order to suggest they may change legislation to criminalise peaceful disobedience by Extinction Rebellion. Is the Minister not ashamed to bracket in this statement peaceful protesters with murderers on the rampage, and will he, for the record, unequivocally acknowledge that the XR protesters were peaceful?

[Kit Malthouse]

I am happy to acknowledge that the XR protesters were peaceful, although crimes were obviously committed in the process of that peaceful demonstration. As I explained earlier, we are covering two subjects in this one statement more for the efficient use of the House’s resources than to conflate the two subjects.

On the issue of free speech, the hon. Gentleman gave himself away slightly by deprecating those on this side of the House for welcoming Fox News “to these shores”, I think he said; he obviously believes in free speech as long as people agree with him.