Banking Misconduct and the FCA

Baroness Laing of Elderslie Excerpts

Thursday 10th May 2018 Commons Chamber

[Jo Stevens (Cardiff Central) (Lab)]

My constituent Kashif Shabir, whom I have spoken about in several debates on this issue, has been the victim of exactly that, with Lloyds bank and Alder King surveyors in Bristol, resulting in the loss of his £10 million business. Does my hon. Friend agree with me that the bosses of both those organisations, Mr Horta-Osório and Mr Martyn Jones, should now proactively take steps to offer—

[Madam Deputy Speaker (Mrs Eleanor Laing)]

Order. The hon. Lady must sit down. I am really sorry to interrupt the hon. Lady, who I appreciate is making a very important point. I must point out, however, that the hon. Member for East Lothian (Martin Whitfield), who is moving the motion, is supposed to take about 15 minutes. He has a lot to say that is of importance, and he has been very generous in allowing interventions, but hon. Members must not think I have not noticed that the people who have intervened will then go away, while the people who have indicated that they wish to take part in the debate will have only four minutes and may need to stay in the Chamber until the end of the debate, which is patently unfair. I cannot allow a long intervention. It is perfectly proper for the hon. Lady to ask a quick question, but it is not in order for hon. Members to make an intervention in lieu of a speech, thus preventing other Members from making a speech. I am trying to ensure fairness, and it is really quite difficult to do so. As I had not previously warned hon. Members, I will allow the hon. Lady to finish her intervention—I realise that she has something important to say—and I will allow the hon. Gentleman to respond to it and to finish his speech. I hope that everyone has got the picture: this is the only way to try to be fair to everyone.

[Jo Stevens]

I apologise, Madam Deputy Speaker. Does my hon. Friend agree that the banks and the surveyors should proactively take steps now to offer redress to my constituent and to many other constituents of Members on both sides of the House?

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[Several hon. Members rose—]

[Madam Deputy Speaker (Mrs Eleanor Laing)]

Order. As I have said, we are pushed for time this afternoon. There will therefore be a time limit on Back-Bench speeches, initially of five minutes although it may have to be reduced.

--- Later in debate ---

[Several hon. Members rose—]

[Madam Deputy Speaker (Mrs Eleanor Laing)]

Order. I am afraid that we must now reduce the time limit to four minutes. I am sorry for not giving the next speaker, the hon. Member for Mitcham and Morden (Siobhain McDonagh), any notice of that.