Football Governance Bill

Debate between Bill Esterson and Lucy Frazer

2nd reading
Tuesday 23rd April 2024 Commons Chamber

[Lucy Frazer]

We do not want to do anything that damages the world-leading Premier League, which is worth £7 billion. People across the world look to the Premier League, and we have worked very closely with the Premier League, the EFL and others to try to get the balance right. I have met the executives extensively during this period, and I have met all the clubs in the Premier League and the EFL to try to get the balance right. We are trying to get a light-touch regime that allows the leagues to do what they are already doing, but with a regulator. The Bill is all about financial regulation.

[Bill Esterson (Sefton Central) (Lab)]

The Secretary of State will understand that many of my constituents who support Everton are greatly concerned about the eight point deduction applied by the Premier League for breaches of its profit and financial sustainability rules. Nottingham Forest face a two point deduction for similar breaches, and other clubs have yet to face any sanction.

Can the Secretary of State reassure my constituents and many other football fans that her commitment to support the Premier League does not mean that the Bill will not have sufficient strength? Does she share my concern that my constituents and many others are worried about a lack of transparency, consistency and fairness in the case of Everton and other clubs? Will she give reassurance on that point?

[Lucy Frazer]

As I am making clear, the Bill is about financial regulation. I know that many fans are concerned about issues within the game itself. The Bill will not regulate how football is played, which is a matter for the footballing authorities. This is about ensuring that clubs up and down the pyramid are financially sustainable under a regulator. If no deal is agreed on distributions, the regulator can step in. This will protect the pyramid overall.

Oral Answers to Questions

Debate between Bill Esterson and Lucy Frazer

Monday 9th January 2023 Commons Chamber

[Lucy Frazer]

We do ensure that. We are committed to ensuring that we have in our new infrastructure the same amount of affordable housing that we have at the moment. As I am sure the hon. Member is aware, we have a fund of £11.5 billion going into affordable housing so that developers can create the houses that people not only want but need.

[Bill Esterson (Sefton Central) (Lab)]

2. What assessment he has made of the potential impact of changes in the level of (a) interest rates and (b) inflation on regional inequality.

Oral Answers to Questions

Debate between Bill Esterson and Lucy Frazer

Tuesday 15th March 2022 Commons Chamber

[Lucy Frazer]

As my hon. Friend knows, we have introduced a range of measures to support families, both working and not working. The price of energy is now set until the autumn, and a significant amount of money is going in now and in the autumn.

[Bill Esterson (Sefton Central) (Lab)]

7. What recent steps he has taken to help reduce economic inequality.

[The Financial Secretary to the Treasury (Lucy Frazer)]

Work is the best route out of poverty. We are investing more than £6 billion in labour market support over the next three years to help people to move into and progress in work. In addition, analysis published at the last autumn Budget shows that in 2024-25, tax, welfare and spending decision since the 2019 spending review will have benefited the poorest households the most as a percentage of income.

[Bill Esterson]

But real wages are falling by the largest amount since 2014, inflation is set to hit 8% and the energy price cap is going up. In the cause of fairness and sound economics, when will the Financial Secretary and her colleagues admit that it makes sense to use the record profits of North sea oil and gas to help ordinary people, who face a cost of living crisis?

[Lucy Frazer]

The hon. Gentleman knows from the statistics announced this morning that wages are up in real terms compared with pre-pandemic levels. In fact, unemployment is now almost back to pre-pandemic levels, and is lower than in Canada, France, Italy, Spain and Australia. On his specific question, the North sea oil industry already contributes additional taxes through a 40% rate, which is double the amount that other corporations pay.

--- Later in debate ---

[Lucy Frazer]

My hon. Friend is right to highlight the effect of a high effective tax rate on incentives to work. That is why the Government reduced the universal credit taper rate from 63% to 55% and increased the universal credit work allowance by £500 per year, which is essentially a tax cut for the lowest-paid, worth more than £2 billion in 2022-23, and means that 1.9 million households will keep an extra £1,000 per year on average.

[Bill Esterson (Sefton Central) (Lab)]

T4.   Waste recycling businesses face an increase in tax on red diesel of thousands of pounds per month from April. I take it that the Chancellor agrees that waste recycling has important economic as well as environmental benefits, so what plans has he to address the sudden rise in costs for businesses that process and reuse waste materials?