Early Childhood Development
Debate between Damian Hinds and Andrea Leadsom(10 years, 9 months ago)
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Damian Hinds
The hon. Gentleman asks a big question. I do not want to test your patience, Mr Weir, by debating the London Challenge, rather than early child development. I will talk in a minute about societal differences that may or may not be driving factors. The honest answer is that we do not know, but there are reasons to disbelieve that the simple explanation for London’s improvement is the London Challenge. First, the differences are apparent long before children reach secondary school, and the hon. Gentleman will recall that it only started in 2003. Secondly, when translated from London to the black country and Manchester, there were not the same results. Thirdly, so many other things that are different about London are worth looking into.
Andrea Leadsom
My hon. Friend speaks so authoritatively on social mobility. It is always interesting to listen to him. However, I put it to him that one reason for London’s exceptionalism could, of course, be that its large immigrant population comes from a different cultural place. My opinion, as opposed to a research view, is that immigrant populations have not suffered the same degree of family breakdown. We found, through my work with the parent-infant projects, that often in immigrant populations there is much more of a family network. Therefore, the bond is often quite secure, even in areas of great deprivation, because of the support for the earliest period of the baby’s life.
Damian Hinds
My hon. Friend anticipates where I am going. We are into the realm of speculation. We do not know. It is true that many things are different about family structure, and so on, in London, compared with the rest of the country. We do not know what is the causality, if any, of any of those things or of the outcomes.
Let me start by mentioning some of the things that are the same. There is no significant difference in gender mix, age and birth weight of babies born in London; mothers tend to be older—we know that that is a factor in child development—and better educated; families are bigger in London, and children are more likely to have brothers and sisters; and the mix is massively more diverse than in the rest of the country, both in terms of ethnic diversity, recent immigrants and families with English as an additional language.
In London, there is a slightly lower percentage of children with either a single mother or both parents working; in other words, there are more families where at least one parent is at home. This surprises people. There is also lower participation in pre-school provision and use of formal child care, which, again, surprises people, because ordinarily we expect that participation in early years settings and use of formal child care is associated with positive improvements in child development.
Finally, as my hon. Friend the Member for South Northamptonshire mentioned, although it is, bizarrely, difficult to get reliable statistics, it appears that London is above the national average for the proportion of families with children in which parents are married. That flies in the face of what most people would assume about this city. However, that raises an important question. A massive debate has been going on in America in the past couple of weeks about a Harvard report by Chetty et al. called “Where is the Land of Opportunity?” which presented a number of challenging results in the US context, in terms of social mobility. Its No. 1 conclusion is that family structure is the single most important determinant of social mobility in America and that, interestingly, it affects not only the immediate family, but has a broader effect. In other words, in a neighbourhood where most children are born to two-parent families—specifically, families where the two parents are married—even if people are not in one of those families, by being in such a neighbourhood, they have more chance of getting on.
Rural Fair Share Campaign
Debate between Damian Hinds and Andrea Leadsom
Andrea Leadsom (South Northamptonshire) (Con)
I am handing in a petition in the same terms as that of my hon. Friend the Member for Beverley and Holderness (Mr Stuart) for 551 signatories from my constituency, including representations from 29 villages.
The Petition of the residents of South Northamptonshire.
[P001243]
Damian Hinds (East Hampshire) (Con)
I, too, am handing in a petition in the same terms for a number of signatories from my constituency. The petitioners therefore request the House of Commons to urge the Government to reduce the rural penalty in staged steps by at least 10% by 2020.
The Petition of the members of Liss Parish Council, Liss, Hampshire.
[P001242]
Petitions
Debate between Damian Hinds and Andrea Leadsom
Andrea Leadsom (South Northamptonshire) (Con)
I am handing in a petition in the same terms as that of my hon. Friend the Member for Beverley and Holderness (Mr Stuart) for 551 signatories from my constituency, including representations from 29 villages.
The Petition of the residents of South Northamptonshire.
[P001243]
Damian Hinds (East Hampshire) (Con)
I, too, am handing in a petition in the same terms for a number of signatories from my constituency. The petitioners therefore request the House of Commons to urge the Government to reduce the rural penalty in staged steps by at least 10% by 2020.
The Petition of the members of Liss Parish Council, Liss, Hampshire.
[P001242]
Financial Services Bill
Debate between Damian Hinds and Andrea Leadsom(11 years, 11 months ago)
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Damian Hinds
The hon. Lady is entirely right, and I alluded to that point when I talked about behavioural charges. It is wrong to think we can legislate perfectly for all eventualities in advance, however. This market has an amazing ability to shapeshift and find its way around any regulation we might put in place, as has been seen in the United States.
I would like to hear an assurance from the Minister that under the new regime it will be possible to have a flexible capping regime that allows for all parts of the market to operate while also insisting that they do so in a responsible way. I also seek an assurance that we will not just address “payday” loans, which are a relatively new phenomenon in this country. Home credit is massive, and it has been with us since Victorian times, and has been a problem for quite a long time. There is also pawnbroking, which my hon. Friend the Member for Chatham and Aylesford (Tracey Crouch) mentioned. Logbook loans are a big market in the United States; they have not appeared in a major way here, but we can bet our bottom dollar that they would get a big boost if other parts of the market were capped. Rent-to-own is another area.
On the basis of the Minister’s conversations across Government, can he assure us that the Government will continue with an integrated approach that addresses not just regulation but boosting financial capability, starting with children’s capability with mathematics in school? Will they also continue to support operators that provide responsible credit, in particular credit unions? I pay tribute to the work the Government are doing in supporting that sector, and would like them to go further in modernising it and making credit union services more widely available, such as through the post office network.
Andrea Leadsom (South Northamptonshire) (Con)
I want to speak briefly on Lords amendments 25 and 36, both of which deal with the issue of competition in respect of the new regulators: the Prudential Regulation Authority that will supervise the banking sector and the Financial Conduct Authority that will supervise business conduct in the banking sector. I seek reassurance from the Minister that having regard to the quality and level of competition in the marketplace will be sufficient to drive a radical improvement in respect of the new challenger banks.
As the Minister knows, the five oligopoly banks in the UK currently have over 80% of all small and medium-sized enterprise bank accounts and personal current accounts. That means access to finance is very limited in respect of choice and types of finance, and as bank balance sheets are currently in a difficult position, it is extraordinarily hard for small businesses to get hold of the financing they need to grow, which in turn will help our economy to recover. So the Bill gives us a once-in-a-lifetime opportunity to ensure that the regulators are, in future, incentivised to ensure not only that banks do not fail, but that we encourage new entrants to the market. At the moment, many would-be bankers find that they are set enormous hurdles, such as having to set up a dealing room just to provide evidence of their ability to do so, yet at the end of an enormous obstacle course the FSA tells them that they cannot have a banking licence. What we cannot have in the future is the PRA and the FCA combining to make it as difficult or more difficult to encourage new entrants into the market. So I hope that the Minister will set out how the regulators of the future will not only tolerate, but encourage new competition.