Oral Answers to Questions

Debate between Kwasi Kwarteng and Gareth Thomas

Tuesday 12th July 2022 Commons Chamber

[Gareth Thomas (Harrow West) (Lab/Co-op)]

The Competition and Markets Authority recently concluded that a lack of competition in key parts of the economy was leading to higher mark-ups from already profitable firms. In short, inflation was being caused in part because Ministers were not doing enough to ensure effective competition across those key bits of the economy. What is the Secretary of State doing about that?

[Kwasi Kwarteng]

The new CMA chair, Marcus Bokkerink, was confirmed by the Business, Energy and Industrial Strategy Committee. He and I are working very closely to see how we can improve the performance of the CMA, to make sure that consumers get a better deal.

Oral Answers to Questions

Debate between Kwasi Kwarteng and Gareth Thomas

Tuesday 16th November 2021 Commons Chamber

[Gareth Thomas (Harrow West) (Lab/Co-op)]

T2. A loophole in company law means that Bain Capital does not have to reveal how much it is paying the army of advisers helping it demutualise Liverpool Victoria. FTI Consulting, Clifford Chance, Fenchurch Advisory Partners and others have all benefited, perhaps by as much as £50 million or more. Does the Secretary of State not think that the members of Liverpool Victoria, whose money this is, have a right to know exactly how their money is being spent?

[Kwasi Kwarteng]

The hon. Gentleman will know, from his long experience in this House, that many of these issues relate to financial disclosure, which is obviously in the remit of my right hon. Friend the Chancellor. I am particularly interested in this deal. I think he is absolutely right that people who are shareholders and people who are customers have every right to transparent data, and I would very much support that.