Lord Watts
Main Page: Lord Watts (Labour - Life peer)Department Debates - View all Lord Watts's debates with the Leader of the House
(11 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Lansley
I have seen the early-day motion to which my hon. Friend refers. He knows, as hon. Members will understand, that HMRC is vigilant in ensuring that companies, including Thames Water, pay the taxes that they are legally obliged to pay. In this context, I would add one further point that it is important to bear in mind. The benefits from investment relief and tax relief enjoyed by water and sewerage companies to encourage infrastructure investment are passed on to customers through lower bills via the regulator Ofwat’s five-yearly price reviews. Those reviews, if they are also vigilant, can ensure that those benefits do reach consumers.
Mr Dave Watts (St Helens North) (Lab)
May we have a debate on loan sharks and the increasing number of payday loan companies that are springing up in our communities, and an explanation of why the Government are failing to control them? Could it be that one of them is bankrolling the Tory party?
Mr Lansley
No, I do not think the hon. Gentleman is right about that at all. The evidence is to the contrary. The Government are serious about this. That is why we announced in March a strong action plan with immediate and longer-term measures relating to evidence of abuse of payday loans, which is not to say that such short-term loans are wrong, but they must not be abusive or harm consumers. One of the things that we therefore wait to find out is whether the Office of Fair Trading intends to refer the matter to the Competition Commission.