Oral Answers to Questions

Kevin Hollinrake Excerpts

Wednesday 19th December 2018 Commons Chamber

[The Prime Minister]

Obviously, there are funding arrangements that apply across in terms of the decisions on these sums of money. The hon. Gentleman talks about disparities that occur. Of course funding per dwelling for the local authority in Durham is more than it is in other areas—it is more than it is in my Maidenhead constituency. So there are proper ways of looking at these issues and ensuring, as we are by putting more money into our local authorities, that the money is there for them to do the job they need to do.

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

Q13. Senior managers at Lloyds and HBOS were convicted of a disgraceful fraud against their own business customers. Now there is compelling evidence of a cover-up at the highest level, including a recent admission of the disgraceful mistreatment of a whistleblower. This week, the compensation scheme for victims was described by Jonathan Laidlaw, QC, as “partial” to the bank’s interests. Does my right hon. Friend agree that the chief executive, Antonio Horta-Osorio, should now consider his position and that the compensation scheme should be replaced by an independent process of arbitration?

[The Prime Minister]

My hon. Friend raises an important issue, and I know that he has consistently campaigned on it. I understand that he raised it yesterday in a debate in Westminster Hall. As he said in his question, the events at HBOS Reading—at that branch—constituted criminal activity, and it is right that those responsible were brought to justice. Decisions about whether to launch financial services conduct investigations are the responsibility of the Financial Conduct Authority, as the independent regulator for the sector. I understand that it is currently conducting two investigations into the events at HBOS Reading, including into the bank’s communications with regulators following the discovery of the misconduct. Obviously, we look forward to the conclusions of those investigations. I know that my hon. Friend will continue to champion the needs and concerns of all those who found themselves recipients and victims of what was identified as criminal activity.