8 Jo Stevens debates involving the Attorney General

Thu 14th Apr 2016
Investigatory Powers Bill (Fifth sitting)
Public Bill Committees

Committee Debate: 5th sitting: House of Commons & Committee Debate: 5th sitting: House of Commons

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 29th June 2017

(7 years, 4 months ago)

Commons Chamber
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Diana Johnson Portrait Diana Johnson (Kingston upon Hull North) (Lab)
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5. What discussions he has had with Cabinet colleagues on the role of an independent advocate to act for families after a public disaster.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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8. What discussions he has had with Cabinet colleagues on the potential merits of appointing an independent advocate to act for families after a public disaster.

Robert Buckland Portrait The Solicitor General (Robert Buckland)
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It is of paramount importance that bereaved families and injured people are properly involved and supported following a disaster, which is why we announced in the Queen’s Speech that we will establish an independent public advocate to ensure that involvement and provide that support.

Robert Buckland Portrait The Solicitor General
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I thank the hon. Lady for that point. This of course depends very much on how quickly we as a Parliament can pass the necessary legislation. It is certainly the Government’s intention that the independent advocate gets on with their work as quickly as possible. On the specific point, each case will depends upon its merits. Of course, legal aid is already available for families with regard to certain procedures, but I think the benefit of having a consolidated advocate will be to address the very questions she asks. I look forward to these issues being debated carefully when the necessary legislation is introduced.

Jo Stevens Portrait Jo Stevens
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Will the Solicitor General confirm that if families who live in high rises, but who, thankfully, have not suffered the same disaster that Grenfell Tower has, wish to bring any legal action on health and safety grounds, they will be entitled to legal aid?

Robert Buckland Portrait The Solicitor General
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Again, the hon. Lady asks a general question about the merits of particular cases. If indeed there are grounds—for example, a judicial review procedure might be appropriate in particular cases—that application can be made. The important point in the context of this question is whether we can do more for families and bereaved relatives. I think we can, and the precedent set by the horrific events at Grenfell will allow us all to learn important lessons: that families have to be put first.

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 21st July 2016

(8 years, 4 months ago)

Commons Chamber
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Jeremy Wright Portrait The Attorney General
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I agree with the hon. Gentleman that there are many of those regulations that we will wish to retain, but of course the exercise of looking at exactly which parts of the canon of European law we wish to transfer into UK law, which we wish to adapt and which we may not wish to continue with at all, is a very lengthy one that we will need to continue with. But I agree with him that it will not, in all likelihood, be the case that all of those rules and regulations will be dispensed with altogether, and both businesses and those who are employed by them benefit from some of those measures.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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Leaving the European Union will involve repeal of the European Communities Act 1972, which means all secondary legislation made under the Act will automatically fail unless it is re-enacted. Can the Attorney General tell us what steps are being taken, or will be taken, to ensure we have the necessary legislation to guarantee protection on important employment rights, such as transfers of undertakings and paid holidays for employees?

Jeremy Wright Portrait The Attorney General
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May I first of all say that it is always nice to see anyone on the Labour Front Bench these days, but it is a particular pleasure to see that the hon. Lady retains her position?

I repeat what I said to the hon. Member for Torfaen (Nick Thomas-Symonds): it is clearly the case that the British Government will wish to retain in some form some of the regulations and pieces of legislation she refers to. Of course, the exercise of determining which pieces of legislation is going to be time-consuming and complex, but I have no doubt that what this Government will wish to do is persist with high-quality protection for those in employment in this country, whether that is European legislation or, in future, domestic legislation.

Jo Stevens Portrait Jo Stevens
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I listened to the answer that the Attorney General gave to my hon. Friend the Member for Torfaen (Nick Thomas-Symonds). Prior to being elected to this House, I represented families of people killed or injured at work. Most health and safety legislation providing protection for UK workers derives from EU law, and in his answer the Attorney General did not satisfy me that he will provide equivalent or better protection. Does he agree that workers need to be protected against injury, illness and death at work, and that workplace health and safety legislation is essential and not red tape? Will he give this House and, in particular, the families of those killed at work a guarantee that, at the very least, equivalent legislation and workplace protections will be urgently re-enacted?

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 26th May 2016

(8 years, 6 months ago)

Commons Chamber
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Jeremy Wright Portrait The Attorney General
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I am sure the hon. Gentleman will recognise that I am not going to comment on specific cases. He will understand that it is the responsibility of the director of the Serious Fraud Office to decide whether to open investigations and prosecutions. In fact, the core funding for the Serious Fraud Office has increased, not decreased. It also has access to so-called blockbuster funding to enable it to take on very large and substantial cases when the need arises. Were it to retain that core capability throughout a given period, it would sometimes not be using it to its fullest extent when such cases were not on its books, which is an appropriate way to proceed. We will always make sure that the Serious Fraud Office has the funding it needs to prosecute the cases it ought to prosecute.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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I listened carefully to that response from the Attorney General, because this week’s report from Her Majesty’s Crown Prosecution Service inspectorate into the Government’s arrangements for the SFO found that the blockbuster funding model does not represent value for money and is incompatible with long-term strategy for building prosecutorial capability and capacity in-house for future investigations and prosecutions. Will he look at alternative funding models to ensure that the SFO is on a sustainable footing and not, in effect, subject to a Treasury veto?

Jeremy Wright Portrait The Attorney General
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The hon. Lady will recognise that the report from the chief inspector, which I asked him to produce in order to look at the way in which the Serious Fraud Office is governed, was a very balanced report that also put forward some very positive points about the way in which the Serious Fraud Office has improved under the direction of the current director. She is right, however, that questions were asked about the funding model. There is a balance to be struck, as I indicated to the hon. Member for Huddersfield (Mr Sheerman). We have to make sure that the Serious Fraud Office has the money it needs, and we will. The director will never refuse to proceed in a case for lack of funding, so there is no Treasury veto as she suggests. However, we have to balance the need for that money with the need not to have unused capacity that is being paid for by the taxpayer. The blockbuster funding model has so far been considered to strike that balance correctly, but I will of course look carefully at what the chief inspector says, and we will consider whether further change is appropriate.

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 14th April 2016

(8 years, 7 months ago)

Commons Chamber
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Jeremy Wright Portrait The Attorney General
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As the right hon. Gentleman may know, the Serious Fraud Office, an agency that I superintend, is contributing to that taskforce, and £10 million of new money is available to support the work of the taskforce. As he would expect me to say, the question of who, if anyone, gets prosecuted as a result of that work is not for politicians, but for independent prosecutors, to determine. I am confident that the Crown Prosecution Service and the SFO have the resources they need to pursue this. As he will also know, the Government are providing additional tools by which that can be done, including the creation of new offences, both for individuals and for corporate entities that fail to take the necessary action to prevent the facilitation of tax evasion.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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Tax evasion is not a victimless crime, and tax avoidance also has consequences. Both take money out of our hard-pressed public services and away from the people who work in them. This money could be used to fund more police, hospitals, schools and other local services, all of which have had severe cuts under this Government. There is a growing tax gap, and there have been a very limited number of prosecutions. How can the public therefore be confident that the Government are doing everything they can to crack down on overseas tax evaders, given the performance to date?

Jeremy Wright Portrait The Attorney General
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I do not accept that the performance to date has been ineffective. As I have explained, there have been successful prosecutions of those who evade tax. As the hon. Lady will know, it is not simply criminal prosecution that exists in order to take action against those who avoid or evade tax; civil penalties are also available to Her Majesty’s Revenue and Customs, and they bring in a substantial amount of money as a result of the actions that that agency takes. She is right about there always being more to do, which is why I highlighted two particular measures in the field of enforcement and criminal prosecutions that this Government are taking, and I look forward to the Labour party’s support for them.

Investigatory Powers Bill (Fifth sitting)

Jo Stevens Excerpts
Committee Debate: 5th sitting: House of Commons
Thursday 14th April 2016

(8 years, 7 months ago)

Public Bill Committees
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Robert Buckland Portrait The Solicitor General
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The hon. Gentleman makes an extremely good point. That is why we are putting clause 30 in—because there is a danger, under the existing legislation, that a warrant can be drafted quite widely without having to come back and amend it in order to add extra names. I take his point, but I do not believe the clause will create a perverse incentive; on the contrary, I think it is vital. For those who draft the terms of the warrants, it will focus their minds on getting it right in the first place, so that we do not end up with the sort of mischief that he quite rightly warns about.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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If that is so important—we want to make an improvement—why can we not have what the hon. and learned Lady is asking for, which is some clarity? That would improve what is clearly a defective clause.

Robert Buckland Portrait The Solicitor General
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I take issue with the hon. Lady’s assertion that the clause is defective. I do not think it is. There are one or two other points that I was already going to reflect on, and I will come to them later in my speech.

Let us just come back to the point that I know the hon. Lady wanted to make. If we end up with an original application that is too wide, it will not get through the double lock, because the commissioner will say, “Hold on. This is neither necessary nor proportionate. It doesn’t pass the test of review. Sorry, Secretary of State, you’ve got it wrong.” That is the whole thing that we are in danger of forgetting. I can see that the hon. and learned Member for Holborn and St Pancras is desperate to get in, so I will give way.

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 25th February 2016

(8 years, 9 months ago)

Commons Chamber
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Robert Buckland Portrait The Solicitor General
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I am grateful to the hon. and learned Lady for raising that matter. The scale involved in England and Wales is slightly bigger, so they have taken the regional unit approach, but I entirely agree with her about the need to standardise practice. The Attorney General and I are always very conscious of that in our conversations with the Director of Public Prosecutions and the chief executive of the Crown Prosecution Service, and work is being done to improve that standardisation.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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In the latest thematic review of rape and serious sexual offence units, the CPS inspector found that the care given to victims of rape and sexual assault

“fell well short of what is expected”.

Is the Solicitor General concerned by Kevin McGinty’s findings that in some areas the CPS has stopped giving early investigative advice to the police because resources are overstretched?

Robert Buckland Portrait The Solicitor General
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I remind the hon. Lady that that report related to a particular period from a year to 18 months ago, and since then the CPS has taken huge strides both in increasing the number of prosecutors and in improving the methods by which cases are assessed and managed.

Oral Answers to Questions

Jo Stevens Excerpts
Thursday 14th January 2016

(8 years, 10 months ago)

Commons Chamber
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Robert Buckland Portrait The Solicitor General
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I assure my hon. Friend that in every case the prosecution must apply the test of a reasonable prospect of conviction, and of whether that prosecution is in the public interest. That should apply to everybody, whether they are in this House or any other part of the country. There must be equality before the law, and the evidence must be followed wherever it leads.

Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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Despite what the Solicitor General has said, conviction rates for rape, other sexual offences and domestic abuse have all fallen, and the Government need to do far more to reduce the incidence of those offences, as well as more to support victims. Last year the Labour party made a manifesto commitment to legislate with a violence against women and girls Bill, just as the groundbreaking Welsh Labour Government have done. The Bill would include provisions to appoint a commissioner to set minimum standards to tackle domestic and sexual violence. Will the Government do the same?


Robert Buckland Portrait The Solicitor General
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First, may I warmly welcome the hon. Lady to her position? It is a pleasure to see her. Indeed, we worked together for many years in the south Wales legal fraternity.

The Government are absolutely committed to funding the combating of violence against women and girls. A cross-ministerial group, of which I am a member, meets regularly, and we have introduced new legislation to criminalise coercive control. We have enhanced the tools the police and the prosecution have at their disposal, which is why the number of prosecutions for domestic abuse and rape continues to rise.

Alun Richards and Kashif Shabir: SFO

Jo Stevens Excerpts
Wednesday 16th September 2015

(9 years, 2 months ago)

Westminster Hall
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Each debate is chaired by an MP from the Panel of Chairs, rather than the Speaker or Deputy Speaker. A Government Minister will give the final speech, and no votes may be called on the debate topic.

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Jo Stevens Portrait Jo Stevens (Cardiff Central) (Lab)
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I beg to move,

That this House has considered the Serious Fraud Office, and the cases of Alun Richards and Kash Shabir.

This debate concerns allegations of fraudulent misrepresentation and collusion involving Lloyds bank and receivers used by that bank. My hon. Friend the Member for Ogmore (Huw Irranca-Davies) and I both have constituents who, as customers of Lloyds bank, underwent the same ordeal: having their hitherto successful businesses revalued downwards, forced into receivership and then sold. The allegations concentrate on but are not confined to Lloyds’ operations in Wales. The facts of the cases resemble the malpractice at Royal Bank of Scotland identified by the Tomlinson report, which was published on 25 November 2013.

I bring this matter to the House today so that Mr Kash Shabir, my Cardiff Central constituent, may have his account of events put on the parliamentary record. I anticipate that my hon. Friend will do the same in respect of his constituent, Mr Alun Richards.

Alex Cunningham Portrait Alex Cunningham (Stockton North) (Lab)
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I would like to put on the record the case of one of my constituents, which relates to this matter. Michael Field bought some land and borrowed from Lloyds bank to finance a project to build several houses. He maintained his payments without fail, was a good customer and fulfilled all the terms and conditions of the loan agreement, but Lloyds seized his assets and foreclosed on him. He then discovered that his assets were actually traded inside the bank, which was a great concern. Does my hon. Friend agree that the Government need to intervene and change things to protect customers such as Michael Field?

Jo Stevens Portrait Jo Stevens
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My hon. Friend makes a very interesting and valuable point about the fact that this bank is part-owned by the taxpayer. The Government should look into its internal practices.

Both Mr Shabir and Mr Richards say that they have suffered significant financial and emotional harm as a result of the actions that are alleged. Mr Shabir built his business from scratch. He was a successful entrepreneur and property developer, with a portfolio valued at around £10 million. He enjoyed an excellent credit rating and reputation among banks and building societies. In 2006, Lloyds bank competed against Barclays bank to win a large portion of his business lending. Lending was secured by Mr Shabir with Lloyds at 1% above the base rate, because of his excellent track record. So far, so good, people might say.

As the House knows, however, the 2007-08 financial crash brought Lloyds to the brink of collapse. At the peak of the financial crisis, Lloyds requested emergency funding from the UK taxpayer. The Government set up a division within the Treasury—UK Financial Investments —to manage the bail-out of Lloyds, the Royal Bank of Scotland and Northern Rock.

For Lloyds to secure and receive that bail-out, it was essential for it to quantify and declare to the Government the amount of money required to save it from collapse. So it conducted an overall assessment of its investments and assets. This appears to have prompted Lloyds to take the opportunity to reassess its relationships with customers who were borrowing large sums on what are called fine margins. Customers on fine margins are good customers allowed to borrow at low rates. Due to the lack of liquidity, however, the cost of money in the money markets had risen significantly—more importantly, it had risen to a point above the contractual levels at which it was being borrowed.

Almost overnight, those businesses on fine margins, which Lloyds had regarded as its best customers, became highly vulnerable since the bank could no longer make profits from those arrangements. As Lloyds sought to improve its own position, the fine margin customers were targeted first, to eliminate them from the bank’s portfolio. That was particularly true of small and medium-sized enterprises, which did not have the resources to defend themselves.

Banks almost always lend money that is secured against assets, by way of a loan agreement. The parameters of that agreement, such as the loan to value ratio, are set out in writing at the outset. Provided that a customer’s assets do not fall below the agreed level, the customer is, in broad terms, described as safe.

During the financial crisis, it is alleged that Lloyds and other banks adopted a mechanism known as down-valuation, to engineer a shortfall. Again, that practice has been recognised in the Tomlinson report, and it has two consequences in this case. First, Lloyds was able to secure a larger bail-out from the taxpayer. Secondly, individual customers were held to be in breach of their loan conditions. That enabled Lloyds either to renegotiate more favourable terms for itself or to eliminate its customers altogether, by triggering receivership proceedings and then the sale of those businesses. It was that second engineered consequence—of being in breach of loan conditions—that brought about the unjustified failure of many successful companies and individuals, including Mr Shabir.

I will explain to the House in a little more detail the mechanism of the alleged collusion applied to engineer a down-valuation in respect of Mr Shabir’s portfolio. Lloyds bank utilised Alder King LLP, commercial property consultants and Law of Property Act receivers, for the majority of the valuations that it carried out in Wales. Alder King was the approved professional company for all receiverships in south Wales. What is of particular concern is that Lloyds engaged as a manager for its Wales operations an equity partner of Alder King, Mr Jonathan Miles, who worked within the bank’s recoveries department—the very department responsible for making receivership appointments. In this position, it is alleged that Mr Miles worked with the valuers and receivers from his own firm of Alder King, and was able to manipulate Mr Shabir’s business into failure.

I am told that Mr Miles never disclosed his own identity as an Alder King partner and misrepresented his position to Mr Shabir as being an employee of Lloyds bank and a long-time Lloyds bank manager. Mr Miles had a Lloyds email address, Lloyds-headed stationery and a Lloyds business card, all of which he used daily. I am also told by Mr Shabir that Mr Miles appointed another Alder King receiver, his Alder King partner Mr Julian Smith, as the receiver in Mr Shabir’s case. Mr Smith wrote to Mr Miles thanking him for making the appointment. Mr Smith was also given a Lloyds email address, together with Lloyds stationery. He had full access to confidential customer data and communicated directly with Lloyds customers, misrepresenting himself as a Lloyds employee, it is alleged.

During Mr Miles’s secondment to Lloyds, he had 2,400 live cases, each worth in excess of £1 million, within his recoveries department. Those were 2,400 live cases in respect of which, if he wished to, he could appoint receivers from his own firm, Alder King. Alder King received substantial professional fees for its services as appointed receivers. These figures illustrate the size and scale of the obvious conflict of interest and the potential for financial abuse. The role played by Mr Miles within Lloyds, with the bank’s knowledge and consent, created an immediate and significant conflict of interest.

Mr Shabir accepts that banks will utilise the services of third-party specialists, such as surveyors, in their day-to-day business, but in engaging such third parties it is the bank’s responsibility to ensure that conflicts of interest do not arise. In Mr Shabir’s case, his Lloyds portfolio was down-valued by Alder King by more than 50% from its original valuation, placed into receivership and sold. Mr Shabir has four valuations from the same period by other Lloyds panel valuers, all reflecting nearly double the valuation of Alder King at the point of placement into receivership.

Once the portfolio of properties was placed into receivership, the receivers failed to transfer all associated bills to themselves, and Mr Shabir has since become the recipient of approximately 30 county court judgments for claims against properties that had been removed by the receiverships from his control. His credit rating is now completely destroyed. This young, successful entrepreneur, who grew up in a small terraced house in Cardiff and built a business worth £10 million, has been financially destroyed. With a young family who are dependent on him, he has lost his entire investment portfolio, with only his family home remaining—on which Lloyds has a second charge.

Mr Shabir alleges that he was forced by Lloyds to take out an interest rate hedging product as a condition of his lending facility with Lloyds in November 2006. When his portfolio was transferred to the recoveries department of Lloyds, it unilaterally cancelled the hedge and levied termination fees of almost half a million pounds against Mr Shabir. It is alleged, and now confirmed by Lloyds, that the hedge was mis-sold. The sales process was non-compliant in seven respects that the Financial Conduct Authority suggests are mandatory for a compliance sale.

I turn to the regulatory framework. In March 2015, the Business, Innovation and Skills Committee, under the chairmanship of my hon. Friend the Member for West Bromwich West (Mr Bailey), conducted an inquiry into the insolvency regime. At the inquiry on 4 March 2015, evidence was heard about the practice of seconding insolvency practitioners and surveyors within lenders’ restructuring divisions. Mr Graham Horne, deputy chief executive of the Government’s Insolvency Service, said that receivers should never work as active insolvency practitioners within a bank. Mr Julian Healey, head of the Association of Property and Fixed Charge Receivers, expressed concern about the impression the practice gave and concluded that if receivers on secondment also worked on the same bank’s administration, there was “clearly” a conflict of interest.

Mr Shabir made a formal complaint to the Royal Institution of Chartered Surveyors about Alder King’s conduct. In its response, RICS specifically confirmed that Mr Julian Smith of Alder King was on secondment to Lloyds at the time of the valuation of Mr Shabir’s portfolio, when he personally acted as the valuer, but also when he was appointed by Mr Jonathan Miles as the receiver. During the same period, Mr Jonathan Miles, as head of receiverships for Alder King, was embedded in Lloyds bank as Mr Shabir’s allocated bank manager.

Despite the evidence that Mr Horne and Mr Healey gave to the Select Committee, RICS somewhat astonishingly claimed to see nothing wrong with Alder King’s practice. It responded as such to Mr Shabir shortly after the Select Committee hearing at which the chair of the RICS regulatory board, Eve Salomon, gave evidence. Although the alleged collusion and fraudulent misrepresentation were first identified and raised with Lloyds by Mr Shabir in 2010, responses have amounted to no more than stonewalling by successive levels of Lloyds management.

Adrian Bailey Portrait Mr Adrian Bailey (West Bromwich West) (Lab/Co-op)
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As Chair of the Business, Innovation and Skills Committee at that time, and following personal representations from Mr Shabir, we did research into this matter. It indicated that there was a consensus across the professional bodies involved, apart from RICS, that the process demonstrated a clear conflict of interest. The bodies took it to the Minister, and I know the Minister made representations, but still absolutely nothing was done. Does my hon. Friend not agree that that reflects a serious deficiency in the monitoring process within the industry—one that results in the most devastating consequences to individuals and the economy?

Jo Stevens Portrait Jo Stevens
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My hon. Friend is absolutely right. It is a huge gap in the regulatory framework that must urgently be addressed.

--- Later in debate ---
On resuming
Jo Stevens Portrait Jo Stevens
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Mr Shabir told me that he is aware that not only have the issues been discussed with the chief executive of the bank, Mr António Horta-Osório, and the past chairman, Sir Win Bischoff, but the bank has dedicated senior managers, including two managing directors, to consider the case. Unfortunately, rather than seeking to address Mr Shabir’s complaint, Lloyds has applied those resources to devising a strategy to deflect him.

There has been no substantive response to Mr Shabir from Lloyds bank since October 2011. Such limited correspondence as has taken place has been issued by Lloyds’ solicitors, who have been unhelpful and dismissive, and has included a proposal to forgive the indebtedness created by Lloyds’ own actions, along with Alder King, in return for Mr Shabir’s signing a confidentiality agreement—effectively a gagging order to prevent any further discussion of any aspect of the case. Mr Shabir told me, unsurprisingly, that that was unacceptable to him, as he would have had to relinquish the £2 million of equity he originally took to Lloyds bank and have been prevented from speaking out about his experience. Because commercial lending by banks is not regulated by the FCA, it cannot intervene and investigate.

Mr Shabir’s case was referred to the Serious Fraud Office in September 2013. I am told by Mr Shabir that a substantial amount of evidence was provided to corroborate the allegations. I have seen correspondence between the former shadow Attorney General, my hon. Friend the Member for Islington South and Finsbury (Emily Thornberry), and Mr David Green, director of the SFO. The correspondence took place between the end of October 2014 and the beginning of November 2014. In his letter to my hon. Friend, dated 7 November 2014, Mr Green confirmed that the SFO was

“working with partners to identify the extent of information and evidence that relates to the practices described and to ascertain if there is a systemic or institutionalised problem that warrants the application of the criminal law.”

Mr Green also confirmed that the SFO had met with a number of other parties concerning Lloyds and Alder King, but, since 7 November 2014, nothing further has been forthcoming from the SFO.

Mr Shabir tells me that the number of people affected by Lloyds’ actions is in the thousands, and the Tomlinson report highlighted the extensive practice of down-valuation. Following the publication of the Tomlinson report, the Federation of Small Businesses, recognised as a super complainant, met the Welsh Affairs Committee on 20 February 2014, along with representatives of RICS. Action groups have been formed. They are multifaceted and multidirectional groups because of the specific circumstances of individual group members. There has been press coverage in the financial sections of national newspapers, including in The Times today. The BBC produced a “Panorama” programme featuring the issue.

In conclusion, we are left with a situation in which it is alleged that a partly nationalised bank, having found itself in unfavourable business arrangements, has been able to manipulate matters to its advantage, steering successful companies into receivership while depressing the valuation of those companies and individuals’ assets to augment the emergency funding it would receive from the taxpayer.

The bank has been assisted by supposedly independent professional advisers who are embedded in the bank and financially benefit from receivership appointments engineered in conjunction with the bank. An obvious and significant conflict of interest has been allowed to operate, unfettered by any regulator. RICS has declined to criticise, never mind condemn, the actions of Alder King, and the SFO has, it appears, sat on its hands, all at extreme financial and emotional cost to Mr Shabir.

There is a public interest in an investigation into potentially criminal misconduct by taxpayer-supported banks, whether it is conducted by the SFO or another agency in a position to do so. Mr Shabir has waited long and patiently enough for some action, so will the Solicitor General tell us whether the Government will undertake to investigate fully the following issues by making specific enquiries of Lloyds, Alder King and RICS?

The first issue is the extent of the practice of down-valuation and the number of seconded personnel embedded in the bank who have received receivership appointments; the second, the monetary value involved; and the third, the number of customers affected. Will the Solicitor General raise these serious issues with the Secretary of State, so that an urgent inquiry might be considered? Finally, will the Government undertake to ensure that Lloyds, as a partly public-owned bank, is proactively contacting and meeting customers to discuss redress for the affected businesses?

None Portrait Several hon. Members rose—
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--- Later in debate ---
Jo Stevens Portrait Jo Stevens
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It has been a pleasure to serve under your chairmanship, Mrs Main. I thank everyone who participated in the debate, but particularly my hon. Friend the Member for Ogmore, my hon. Friend the Member for Newcastle upon Tyne North (Catherine McKinnell), who is the new shadow Attorney General, and the Solicitor General. I am very grateful to you all and for having had the opportunity to put the case for my constituent.

Question put and agreed to.

Resolved,

That this House has considered the Serious Fraud Office and the complaints of Alun Richards and Kash Shabir.