Retirement Property Management Companies: Regulation
Debate between Bradley Thomas and Simon Hoare(2Â weeks, 6Â days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Simon Hoare
I agree. That goes back to the point I made a moment ago that too many of these companies see their residents as a soft or easy touch. They think that their residents will just suck it up and simply write the cheque.
Bradley Thomas (Bromsgrove) (Con)
I thank my hon. Friend for giving way again and for securing this Adjournment debate. Does he agree that there is a particularly predatory aspect upon the death of a resident who has occupied one of these properties? I would like to use this moment to pay tribute to Alex Roll, a constituent of mine whose mother’s estate has been crawled all over by predatory management companies that have seen an opportunity to effectively seize the assets of someone who worked tirelessly through their life. This system urgently needs reform—it is desperate for it.
Simon Hoare
I agree with my hon. Friend and with his constituent, Alex Roll, who has been in contact with me via Facebook. I take the point that my hon. Friend makes on her behalf, and that she makes on behalf of countless others, which is that these companies are inclined to effectively hunt with the hounds and run with the hare at the same time. When somebody dies and the property then goes up for sale—sometimes, because of the restrictive covenants, the resale can be a slow and difficult business—not only do these companies receive a fairly significant clawback at the point of sale, but they demand service charges to be paid while the property is vacant or while probate is awaited. They really are trying to milk it from both ends, and I just do not think that stacks up in the court of public opinion as being fair or justifiable. One should be able to say, “This property is vacant. We will not levy the service charge, as that will effectively be included in the clawback that we get at the point of sale,” because there is clearly no resident in that property using those services.
Family Businesses
Debate between Bradley Thomas and Simon Hoare(1Â year, 7Â months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Bradley Thomas (Bromsgrove) (Con)
It is a pleasure to stand here on behalf of dozens, probably hundreds, of businesses across my constituency, many of which are run by families. It is discomforting to sit here and hear the sense of sheer denial and arrogance from Labour Members about what actually drives growth in our economy. What makes me most despondent is that the Government’s default ideological position and mentality is one where they ask, “What taxes can we raise?” Rather than asking how they as the Government can cut their cloth accordingly and pass on the benefits to the economy in the form of reduced taxes, their default position is to ask, “What taxes can we increase on the businesses that provide the very backbone of our prosperity?”
In that vein, family businesses provide employment for almost 14 million people across the country and contribute ÂŁ575 billion to the national economy. These businesses are founded on principles of entrepreneurialism, which I am proud that my party has championed for decades. Labour is showing once again that it does not understand the value of business; it knows only how to tax and regulate enterprise, which ultimately makes our economy weaker and poorer.
Simon Hoare (North Dorset) (Con)
Labour Members may speak of their support and passion for small business, but they never speak of their experience of setting up and running one. There is very limited experience of that on the Labour Benches. Does my hon. Friend agree that that is part of the problem? Having never set up and run a business, they have no idea of the impact of their policies on one.
Bradley Thomas
I agree wholeheartedly. That strikes at the heart of the Government’s lack of appreciation for what fundamentally drives the economy.