Oral Answers to Questions

Kevin Hollinrake Excerpts

Wednesday 14th March 2018 Commons Chamber

[The Prime Minister]

As the hon. Lady will know, I have always said that there were some short-term, medium-term and long-term measures that needed to be taken in relation to pressure on social care. In the short term, we have provided more funding for local authorities— £2 billion extra was announced by my right hon. Friend the Chancellor of the Exchequer—and we are seeing more money going into social care in local authorities. In the medium term, we need to ensure that best practice is spread across the whole country and—she mentioned the Green Paper—we also need to ensure that we can develop a long-term, sustainable funding model for social care. That is what we continue to work on.

[Kevin Hollinrake (Thirsk and Malton) (Con)]

It is sadly a matter of public record that RBS and HBOS deliberately asset-stripped thousands of potentially viable businesses to benefit their own banks or individual bankers. Evidence before the High Court indicates that Lloyds may also be guilty of the same. Will the Prime Minister consider the calls of the all-party parliamentary group on fair business banking—endorsed by the chief executive of the Financial Conduct Authority, Andrew Bailey—for a full public inquiry into this disgraceful scandal?

[The Prime Minister]

This issue is of concern to many. Small businesses are the backbone of our economy and we need to ensure that we learn the lessons from what happened at RBS and HBOS. As my hon. Friend will know, the FCA has reported areas of widespread inappropriate treatment of firms by RBS, which has apologised and set up a scheme for compensation for victims. There is an ongoing investigation being conducted by the FCA into RBS, and it is also undertaking two separate investigations into HBOS. We will continue to work with the independent regulator and the industry to ensure that small and medium-sized businesses get the support they need.