Oral Answers to Questions

Kevin Hollinrake Excerpts

Tuesday 19th March 2019 Commons Chamber

[Greg Clark]

The hon. Gentleman knows that I have been in discussion with the industry. The sector has participated in the development of the path to the decarbonisation of vehicles, and it is important that we are consistent with that. However, part of that process is about recognising that buying a diesel car is a perfectly reasonable choice for many people, but some people have got the wrong impression from the announcement.

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

T7. The all-party parliamentary group on fair business banking and finance is dealing with several cases, including those of Keith Elliott and Julia Davey, that raise serious questions about inappropriate links between insolvency practitioners and banks, specifically KPMG, PwC and Lloyds Bank. What action is the Minister taking to remove such conflicts of interest?

[Kelly Tolhurst]

My hon. Friend is a passionate campaigner in this area and for his constituents, and he knows that I would particularly like to tackle this matter. Insolvency practitioners must adhere to the insolvency code of ethics and must not allow conflicts of interest to override the fundamental principles of objectivity. Breaching the code may result in regulatory action, such as a fine, reprimand or, in the most serious of circumstances, the removal of a licence. The code is currently being updated by the recognised professional bodies that license insolvency practitioners, but I will continue the dialogue with my hon. Friend on this matter.