Andrew Pakes
Main Page: Andrew Pakes (Labour (Co-op) - Peterborough)Department Debates - View all Andrew Pakes's debates with the HM Treasury
(1 month ago)
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Emma Reynolds
I thank the right hon. Member for his question. We were once parliamentary neighbours, so I understand the concern that he is expressing. Over the weekend, I spoke to the Business Secretary about this issue. We are holding a consultation, which will be a quick one.
Andrew Pakes (Peterborough) (Lab/Co-op)
I heartily welcome my right hon. Friend to the Dispatch Box in her new role. In 1954, the Co-operative Permanent building society opened its office in Peterborough. In the 70 years since—now as Nationwide—it has provided advice and support for lenders and people buying a house. There are few better examples in this country of a commitment to our high streets and to growth in every postcode than building societies and the mutual movement. We have a manifesto commitment to double the size of the co-operative and mutual economy. We talk about growth in every postcode; will my right hon. Friend reassure me that the Government will do everything they can to ensure that the building society movement can play its part in rebuilding our country?
Emma Reynolds
I can absolutely do that. May I thank my hon. Friend for the work he does to further the cause of co-operatives and mutuals? When I was Economic Secretary, I very much enjoyed working with the sector, because building societies often offer more innovative products—to first-time buyers in particular—and do sterling work.