Financial Conduct Authority

Debate between Lindsay Hoyle and Gary Streeter

Monday 1st February 2016 Commons Chamber

[Mr Streeter]

I suspect that that is the case—

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Order. May I just remind everybody that the Chair certainly will not be favouring any Government, for or against?

[Mr Streeter]

We all knew that, Mr Deputy Speaker.

It is perfectly possible that the swaps were designed to be so complicated that they could not be understood. Primarily, they were designed in a way as to make the selling bank vast sums of commission, and it was all done in the name of commercial greed. Nobody minds a profit, but this went well beyond that. Although I am a loyal supporter of this Government, we have an FCA compensation scheme that is pitiful and, as a result, we are in danger of letting our constituents down. However, it is not too late for the Government to get a grip on the FCA and sort this matter out.

Electoral Registration

Debate between Lindsay Hoyle and Gary Streeter

Wednesday 4th February 2015 Commons Chamber

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

I do not think anybody needs to clarify the relationship between you and Mr Streeter.

[Mr Streeter]

As I said, Mr Deputy Speaker, it is not a pleasant thought from my point of view.

The truth is that a vast amount of work is being done around the United Kingdom to get people to register before the general election, but it is important to remember that anyone who is already on the household register and is residing at that address has not been removed as a result of the shift to IER. The Electoral Commission is running a national campaign across the UK to encourage people to register to vote ahead of the 20 April deadline. It will reach all adults, with a focus on groups—already mentioned in this debate—that research has identified are less likely to be registered to vote, such as people who have recently moved home, those who rent their home, young people, and people from black and minority ethnic communities.

Some of this work is being undertaken with the support of organisations and private companies that represent these communities or have a special reach into them. For example—this is very good news—the Electoral Commission and Facebook have today announced that on national voter registration day, which is tomorrow, every person on Facebook in the UK who is eligible to vote will see a voter registration reminder message in their newsfeed. Some 35 million people use Facebook in the UK every month, which is more than the number who voted at the last general election. This is using innovative methods to reach people and encourage them to vote. We must keep returning to the point that people can now register to vote online. It takes 30 seconds, and the only thing they need is their name—[Interruption.] Yes, I have seen it done. [Interruption.] I was already registered; I was data-matched. People need their name, address, date of birth—most of us know those things—and national insurance number; ring your mum and find out what it is. If people have those four things, they can register; it takes 30 seconds. This is good news.