Oral Answers to Questions

Debate between Harriett Baldwin and Nia Griffith

Monday 30th January 2017 Commons Chamber

[The Parliamentary Under-Secretary of State for Defence (Harriett Baldwin)]

I can confirm that the Dreadnought submarine programme is a major national investment programme that will sustain thousands of jobs across the UK. The benefit will extend well beyond the major companies leading the programme.

[Nia Griffith (Llanelli) (Lab)]

Army recruitment levels are now worryingly low, due in no small part to the Government’s total failure to manage the contract with Capita, allowing that parasitic company to sponge off the public purse while bringing in only 6,900 of the target of 9,500 Army recruits? Will the Minister review Capita’s contract and improve his Department’s monitoring procedures to stop leech-like companies siphoning off taxpayers’ money for little or no return?

Oral Answers to Questions

Debate between Harriett Baldwin and Nia Griffith

Monday 7th November 2016 Commons Chamber

[Harriett Baldwin]

I pay tribute to my hon. Friend for his enormous contribution. He has always made the case for a growing defence budget. I am sure that he, too, will welcome not only the announcement we made last week about the Type 26 frigates, but the announcement made at last year’s strategic defence and security review that we would develop a general purpose frigate and commit to at least five of those.

[Nia Griffith (Llanelli) (Lab)]

It is right that the Government are sticking to our NATO commitment to spend 2% of GDP on defence, but as the Select Committee on Defence has noted, the Government are doing so only by including areas that were not previously counted. Can the Minister tell us what defence expenditure would be as a percentage of GDP if we used the accounting rules that were used in 2010?

[Harriett Baldwin]

We use exactly the methodology that NATO approves, and everything is consistent with NATO’s definition. I would like to take this opportunity to clarify whether the Labour party will also commit to spending 2% of the country’s GDP on defence.

Independent Financial Advisers (Regulation)

Debate between Harriett Baldwin and Nia Griffith

Monday 29th November 2010 Commons Chamber

[Nia Griffith]

Indeed, there are certainly issues about the way in which the whole system has been set up and run, and about whether it can be worked properly. As the hon. Gentleman points out, to have so many people trying to take the exams in just two years is not particularly practical. The time scales are extremely tight, and the independent financial advisers have to book into the slots. Another problem, of course, is that they do not always pass the exams.

That brings me to the nature of the exams. As I have said, independent financial advisers already have certification, and I have seen some of the questions that they have to answer in order to gain that certification. Many of them seemed to require a very different kind of knowledge from the knowledge that the IFAs in my area usually need. Furthermore, IFAs are fully aware of their own shortcomings. They know that they have limitations, and that they will sometimes need to pass a client on to someone else for specialist advice.

One very experienced financial adviser in my area is a well respected member of the community who is very much involved in local town centre activities and in keeping the community alive. He recently failed one of these exams, however, which has knocked back his morale and that of a number of other financial advisers who know him. He failed the exam not because he was not perfectly capable of doing his job or because he lacked intelligence or experience. That seems only to confirm that the nature of the exams needs to be reconsidered. We also need to take into account the enormous amount of time that has to be put into them —400 hours has been mentioned, and that is probably the minimum—as well as the costs involved.

I know from experience of developing new examination schemes what happens in such circumstances. Everyone wants to put in their 5p worth and everyone wants extra questions on their area, and the whole thing develops until it becomes so big and unmanageable that no one could possibly want it as a syllabus. Another problem is that people are often terribly worried about being thought of as soft. They are worried that someone is going to tell them that standards are falling, so they decide to put in harder and harder questions to try to counteract that.

[Harriett Baldwin]

Have any of the hon. Lady’s constituents been able to observe how the qualifications might help to identify those independent financial advisers who might have a tendency to mis-sell, compared with those who might not?

[Nia Griffith]

My constituents have made clear to me that many of the questions do not bear much relation to what they do in their everyday work, and are certainly not a test of their integrity. That does not mean that they do not want regulation or do not like the idea of having proper qualifications and a respected profession, and it does not mean that we should abandon the RDR altogether. What those people are saying is that we should look at the detail again and create a workable system that can be respected and is a useful tool, rather than one rejected by the profession that will not help anyone in the long run because it will simply lead to an exodus that will have the impact on local communities that many Members have described.