Covid-19 Update

Debate between Andrea Leadsom and Sajid Javid

Monday 13th December 2021 Commons Chamber

[Sajid Javid]

The hon. Gentleman is right to point to the lag between the point of infection and hospitalisation. That emphasises the need to act early and strongly. That is why the booster programme and that response is so important in Scotland, in England and throughout the UK, and it is good that all four nations are working closely together on it.

On lateral flow tests as an alternative to self-isolation, I think they are the right approach. They can be taken daily, so the individual is tested each day for seven days, whereas a PCR would be a single test at a single moment. This is much more flexible and it is based on advice Ministers have received. On the hon. Gentleman’s questions on economic support, that is something we keep under review.

[Dame Andrea Leadsom (South Northamptonshire) (Con)]

I congratulate the Government on the roll-out of the vaccination programme—it is impressive—but what does my right hon. Friend say to my constituent who says she is now less afraid of covid than she is of intrusive and incoherent Government regulations?

[Sajid Javid]

I would say to my right hon. Friend that I hope her constituent would appreciate that the Government have to act on the information they see before them on the rate of spread of this new variant and what we now know about its degree of vaccine escape—not just to protect my right hon. Friend’s constituent, but to protect that constituent’s loved ones and her community.

Covid-19 Update

Debate between Andrea Leadsom and Sajid Javid

Monday 29th November 2021 Commons Chamber

[Sajid Javid]

Surely the hon. Gentleman is not suggesting that if we had had different rules on masks over the summer, this variant would not have emerged.

[Dame Andrea Leadsom (South Northamptonshire) (Con)]

I am sure that my right hon. Friend will want to pay tribute to the South African Government for raising the existence of the omicron variant, which resulted in their having a travel ban imposed. I have constituents—and, in fact, a family member—stuck in South Africa. For how long does he expect cancellations and suspensions of flights to occur? It is a worrying time for anyone stuck overseas.

[Sajid Javid]

First, I join my right hon. Friend in again expressing thanks to the South African Government for how they have handled this difficult situation. I understand her point about her constituents. Many of us will have constituents in a similar position. It is hard to say when direct flights might start. We have started our hotel booking programme, which is one part of trying to get our citizens back, but we will do everything we can to support them in that way.

Oral Answers to Questions

Debate between Andrea Leadsom and Sajid Javid

Tuesday 10th September 2013 Commons Chamber

[Sajid Javid]

My hon. Friend is obviously referring to the fact that when this Government came to office, we had the biggest deficit in our post-war history. The previous Government were borrowing £5,000 a second—£300,000 each and every minute. We have reduced that deficit by a third and, as my hon. Friend suggests, that has brought confidence, investment and jobs.

[Andrea Leadsom (South Northamptonshire) (Con)]

Does my hon. Friend worry, as I do, that the worst outcomes for children are in those families where nobody is working? If so, is he as delighted as I am that our economy has generated 1.25 million new private sector jobs since 2010, thereby improving the prospects of millions of children?

[Sajid Javid]

My hon. Friend correctly highlights that the best way out of poverty is through work. As she says, the private sector has generated almost 1.3 million jobs over the past three years. In fact, it is the fastest rate of job creation in the G7.

Financial Services (Banking Reform) Bill

Debate between Andrea Leadsom and Sajid Javid

Monday 11th March 2013 Commons Chamber

[Sajid Javid]

I think that the hon. Gentleman needs to do some homework on the German model.

Let me turn to switching. The Vickers commission made a number of recommendations on competition, one of which was for a seven-day switching service. That will go live in September this year. It will be free to use and will come with a guarantee to protect customers against financial loss in the event of any errors occurring during the switching process. A number of Members, not least my hon. Friend the Member for South Northamptonshire, made interesting points on full account number portability. The Government have always kept an open mind in that debate, arguing that the seven-day switching service should be allowed a good run. If it does not deliver the expected consumer benefits, more radical options will of course be looked at, including full account number portability.

The structural reforms proposed in the Bill will of course aid competition. As the Bank of England’s executive director for financial stability, Anthony Haldane, said to the parliamentary commission, one of the biggest challenges we face on competition concerns is that banks are perceived as being too big to fail. The banking sector reforms made through the measures in this Bill are designed to address precisely that issue.

[Andrea Leadsom]

Does my hon. Friend agree, though, that the big banks will lobby extremely hard against greater competition, particularly full bank account number portability, and does he undertake to resist their lobbying attempts?

[Sajid Javid]

My hon. Friend makes a good point. The contents of the entire Bill show how the Government have already resisted the attempts of many in the banking lobby.

My right hon. Friend the Chancellor—this will also interest my hon. Friend—has, as she will know, announced a consultation on bringing the payment system into regulation. We will make sure that new players in the market can access the payment system in a fair and transparent way and that they serve the needs of consumers, not those of established banks. Members may want to note that we will launch this consultation soon after the Budget. I am sure that my hon. Friend will want to make representations on full account portability to the consultation.

Several hon. Members talked about RBS. The Government believe that RBS’s future is as a major UK bank with the majority of its businesses in the UK as regards personal, SME and corporate banking. United Kingdom Financial Investments Ltd continues to be responsible for managing the Government’s shareholding in RBS on a commercial and arm’s-length basis and for developing and executing a strategy for disposing of the investment in an orderly and active way. UKFI continues to look at a full range of options for disposing of the investment, and RBS should emerge as a stronger and safer bank able to maintain lending to businesses and consumers that can, in time, be returned to full private sector ownership.

The Bill before us ensures that a future Government can keep bank branches going and cash machines operating while letting investment arms fail. It ensures that taxpayers will not fork out for the mistakes of others. Put simply, it deals with exactly the issues that are of concern to most of the UK public after the recent crisis. Financial services are a vital part of our economy, as evidenced by points well made by my hon. Friend the Member for Cities of London and Westminster, and they employ over 1 million people across the country. Let us not forget that the total tax take of the financial sector, including the income tax paid by its employees, adds up to over £60 billion—money that we rely on to fund our vital public services. It is crucial that we make sure that the British public again begin to trust the industry, that banks continue to serve families and businesses, and that the sector becomes what my right hon. Friend the Chancellor has described as a

“financial industry that is strong, successful and inspires the pride of all those who work for it.”

Question put and agreed to.

Bill accordingly read a Second time.

Financial Services (Banking Reform) Bill (Programme)

Motion made, and Question put forthwith (Standing Order No. 83A(7)),

That the following provisions shall apply to the Financial Services (Banking Reform) Bill:

Committal

1. The Bill shall be committed to a Public Bill Committee.

Proceedings in Public Bill Committee

2. Proceedings in the Public Bill Committee shall (so far as not previously concluded) be brought to a conclusion on Thursday 18 April 2013.

3. The Public Bill Committee shall have leave to sit twice on the first day on which it meets.

Consideration and Third Reading

4. Proceedings on Consideration shall (so far as not previously concluded) be brought to a conclusion one hour before the moment of interruption on the day on which those proceedings are commenced.

5. Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on that day.

6. Standing Order No. 83B (Programming committees) shall not apply to proceedings on Consideration and Third Reading.

Other proceedings

7. Any other proceedings on the Bill (including any proceedings on consideration of Lords Amendments or on any further messages from the Lords) may be programmed.—(Greg Clark.)

Public Service Pensions Bill

Debate between Andrea Leadsom and Sajid Javid

Tuesday 4th December 2012 Commons Chamber

[Sajid Javid]

My hon. Friend made passionate contributions in Committee, where he made that same point. I will say the same thing in reply. The Bill and other changes we have made to public sector pensions deliver significant cost savings for the Government and future taxpayers, but maintain our commitment to generous, fair pensions that are sustainable in the long term for people who serve in the public sector.

The Bill is not simply about bringing costs under control and ensuring that schemes are sustainable. We are also seeking to address issues of unfairness that exist within the current scheme designs.

[Andrea Leadsom (South Northamptonshire) (Con)]

The Minister mentions unfairness. Does he agree that one of the greatest unfairnesses was when the previous Government got rid of advance corporation tax relief on pension funds, which destroyed the private sector pensions industry and left many private sector workers much worse off than this excellent Bill?

[Sajid Javid]

My hon. Friend is absolutely right—the change to which she refers had a dramatically negative impact on private sector pensions.

The benefit structure of many existing schemes has led to benefits being disproportionately directed towards higher earners.