Competition and Markets Authority Chairman
Debate between Gregor Poynton and Justin Madders(1 month ago)
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Justin Madders
I think there were a couple of questions in there about the role of the CMA chair. Of course, he did not get sacked; he resigned. A new strategic steer for the CMA will be coming out in due course. The hon. Gentleman’s tirade of criticisms of this Government was a bit rich coming from a man who was in the Treasury when the last Government crashed the economy. I would point out that PwC announced only this week that we were the second most attractive country in the world to invest in, and that the International Monetary Fund last week upgraded our growth predictions for this year. We are going to be the highest-growing major economy in Europe this year, and that shows our determination to get the growth going, which was something that his Government failed completely on.
Gregor Poynton (Livingston) (Lab)
Getting the right regulatory environment is vital to drive innovation in our economy and also to protect our consumers and markets. Does the Minister agree that this renewed focus on the regulatory environment and getting it right to drive our economy will make sure that this Government deliver our No. 1 mission of growth?
Justin Madders
My hon. Friend is absolutely right. Growth is the No. 1 mission for this Government, and getting the balance right between protecting consumers and driving up growth in the economy means that we all benefit. That is something we are very clear about on this side of the House, and something that the last Government failed to deliver on.
Royal Mail Takeover
Debate between Gregor Poynton and Justin Madders(2 months ago)
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Justin Madders
I assure the hon. Lady that the universal service obligation is not contingent on this deal—that is an entirely separate matter for Ofcom to be considering—but a number of commitments that we have secured in this agreement will hopefully improve standards, which in any event have clearly not been as we would all want.
Gregor Poynton (Livingston) (Lab)
I welcome the Minister and the Government’s work to secure the long-term future of the Royal Mail. The statement shows that we have got a good deal for UK customers and workers. Will the Minister assure me, Royal Mail customers and workers in the Livingston constituency that when the deal goes through, the new owners will be held rigorously to their obligations on an ongoing basis? We have had too many instances over the last 14 years of privatised industries going off track because the regulatory environment has not ensured that they meet their obligations.
Justin Madders
My hon. Friend will not be surprised to hear that some of my early discussions in this role have been with Ofcom, and indeed with Royal Mail about its performance. There is a shared determination between not just the regulator and the Government but the trade union, the workers and the new owners to drive up that performance, because we can all clearly see that it is not good enough at the moment.