Bank Resolution (Recapitalisation) Bill [Lords]
Debate between Emma Reynolds and Nusrat Ghani(1 day, 22 hours ago)
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Emma Reynolds
I agree with the hon. Gentleman, who puts it very well. He will know that there was a different order in the case of Credit Suisse, but the then Government said at the time that that would not be their order of priority. We are seeking to protect the taxpayer in this Bill, and he is right: had there been a cost associated with the transfer of SVB, it would have fallen first to those people before falling to the taxpayer. If we pass this legislation, for which I hope there is cross-party support, we will avoid that eventuality, because if we follow the order of priority and get to the financial services compensation scheme, the cost will be paid through a levy on the banks in that scheme. I thank the hon. Gentleman for his question.
The resolution regime is a critical source of stability when banks fail, because it ensures that public funds and taxpayer money are protected. This Bill delivers a proportionate and targeted enhancement to the resolution regime to ensure that it continues to provide that important stability. As I said at the start of this debate, it is therefore an important Bill that underpins the Government’s vision for economic growth, and I commend it to the House.
Winter Fuel Payment
Debate between Emma Reynolds and Nusrat Ghani(4 months, 1 week ago)
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Madam Deputy Speaker
Members are guided to talk about any such conflict before they speak on the Floor of the House. I am not sure that this has a direct impact on proceedings, but the right hon. Gentleman’s point has been noted.
Emma Reynolds
Again and again, the Conservatives are dividing working people and pensioners, and that is disgraceful.
In conclusion, means-testing the winter fuel payment is a difficult decision. [Interruption.] I receive no funding from ASLEF, so the right hon. Gentleman can withdraw his comment. We are targeting support at the poorest pensioners, boosting the uptake of pension credit, maintaining the triple lock for pensioners, extending the household support fund and the warm homes discount and, in the longer term, introducing a warm homes plan to insulate people’s homes. These are the right decisions to take. This Government are determined the fix the foundations of our economy so that we can deliver the change on which we were elected, and which this country and our pensioners so desperately need. Bringing down NHS waiting times—