Oral Answers to Questions

Helen Goodman Excerpts

Thursday 20th June 2019 Commons Chamber

[Mr Speaker]

I hope the hon. Member for Hitchin and Harpenden (Bim Afolami) realises that he has just been canvassed.

[Helen Goodman (Bishop Auckland) (Lab)]

Last Thursday, the shadow Secretary of State, my hon. Friend the Member for Workington (Sue Hayman), and I visited Upper Teesdale Agricultural Support Services. We met farmers who had not been paid for 18 months, so payments in July would be welcome. Will they get interest on the late payments?

--- Later in debate ---

[Tom Brake]

I am very happy to do so. I am a cyclist myself, and I must say that the facilities within Parliament are perhaps not quite what they should be, certainly given the lack of covered parking provision for cycles, so I would be very happy to meet the hon. Lady. I should point out that access to the parliamentary estate for cyclists has been improved, but I agree that there is a need to look at not just current provision, but provision under the northern estate programme and, at a future date, the restoration and renewal of the Palace.

[Helen Goodman (Bishop Auckland) (Lab)]

rose—

[Mr Speaker]

Order. We have not reached the hon. Lady yet. She is ahead of herself.

--- Later in debate ---

[Dame Caroline Spelman]

As I explained, the ratio, if we exclude the highest paid investment division, is 7.3:1. The investment division includes asset managers, who have to manage assets of over £8 billion. They are paid at the market rate for asset management, but they are nowhere near the top of the range. External advice is taken by the Church Commissioners on what and how we should pay, but those are the going rates for top asset managers in this country, and the assets of the Church of England have to be well managed.

[Helen Goodman (Bishop Auckland) (Lab)]

8. What steps the Church Commissioners are taking to use their influence and responsible investment policy to engage positively with global businesses on their working practices.

[Dame Caroline Spelman]

This question relates to the previous one in an interesting way.

This month, the Church of England was ranked second globally in an industry survey of responsible investors. One of our most recent engagements has been holding to account the mining company, Vale, as responsible for the collapse of the dam in Brumadinho, Brazil. That underlines the point that really good, responsible asset management is something that one has to pay for.

[Helen Goodman]

I am grateful to the right hon. Lady for that answer. The dam collapse claimed the lives of 246 people. Vale is a British company and it is totally unacceptable to have lower standards of health and safety abroad than at home. What is the Church of England’s strategy, as an investor, for tackling that?

[Dame Caroline Spelman]

The Church Commissioners hosted a roundtable meeting with other investors and senior management from a number of the largest mining companies in the world, which exposed the fact that this is a widespread problem. To date, 29 of the top 50 mining companies have made disclosures about tailings dams. This is how investors can have an influence in an ethical way over their policy.