Water White Paper
Debate between Emma Reynolds and James Naish(2 weeks, 6 days ago)
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Emma Reynolds
The hon. Member is right to say that we need to abolish Ofwat—we might have had that idea previously too, by the way. As he knows, at the moment we have four regulators, and sometimes there are duplications or regulatory gaps. That is why the focus of our reforms is on ensuring that we integrate the environmental regulation and the economic regulation of water, because for too long those things have been separate. I would be happy to write to him to respond on the specific issue that he raises.
James Naish (Rushcliffe) (Lab)
My constituents in Rushcliffe, notably in East Leake, have faced sewage spills for far too long, so I am pleased to be working with Severn Trent Water to ensure that new pumping stations and rising mains are installed in East Leake, Wysall and Willoughby-on-the-Wolds over the current price period. How will having a new single water regulator, with real teeth, ensure that that commitment is delivered in the current price period?
Emma Reynolds
I thank my hon. Friend for his question and the opportunity to mention that we will be publishing a transition plan which, as I mentioned in my statement, will set out a road map from where we are now to having the opportunity to legislate. I want to make progress before that Bill is in the House, so that we can start to shift the dial, build on what we did last year in the Water (Special Measures) Act 2025, and move towards that supervisory system that will give the regulator more teeth. We need that new regulator and those new powers in legislation to bear down on incidents such as the one my hon. Friend is talking about.
Financial Services Reform
Debate between Emma Reynolds and James Naish(6 months, 3 weeks ago)
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Emma Reynolds
I am engaging with Martin Lewis, who is a doughty champion of consumers across the country. I say to the hon. Member that, due to the consumer duty, banks and other providers have a duty to ensure that they deliver the best outcomes for their consumers, but I note what he has said.
James Naish (Rushcliffe) (Lab)
I thank the Minister for her statement, and I note especially the new concierge service within the Office for Investment that will both court international development and act as a one-stop shop to promote the UK. What regional dimension might be considered within that for places such as the east midlands—the region for which I am an MP—where there is significant potential for jobs and investment?
Emma Reynolds
I can reassure my hon. Friend that the concierge service will be working across the country. This is about ensuring that the UK has a single shop window for international firms looking to either set up or invest further in the UK. As we set out in the Leeds reforms, the benefits of that investment and of unleashing the potential of the financial services industry should be felt across the country, in the east midlands and beyond.