Gas Market Fraud

Greg Mulholland Excerpts

Tuesday 13th November 2012 Commons Chamber

[Mr Davey]

Action is being taken. I refer the hon. Gentleman to the consultation put out by the European Commission. It has also been suggested that ESMA—the European Securities and Markets Authority—should take interim measures. I have to tell him that not just domestic regulators but international regulators are taking a broader look, which is the correct thing to do.

[Greg Mulholland (Leeds North West) (LD)]

I am delighted that the Secretary of State has said that the allegations of market manipulation are being taken very seriously, but considering the substantial evidence of abuse, collusion among large companies and price manipulation, why have Ministers so far turned a blind eye to Britain’s big pub companies? Is it that the whistles that have been blown for eight years are just pitched too high for Ministers and civil servants?

[Mr Davey]

My hon. Friend and I discussed the issue of pubs and competition when I was in my last job in the Department for Business, Innovation and Skills. I think he will realise that I am no longer in charge of competition issues relating to pubs.