Oral Answers to Questions

Debate between Mark Hoban and Andrew Bridgen

Monday 1st July 2013 Commons Chamber

[Mr Hoban]

I remind the hon. Lady that over the last seven months the number of jobseekers has fallen. She has not welcomed that, but it is good news for her constituents and for people across the country. We want to make sure Jobcentre Plus advisers offer a good quality service. They do that, and I am very disappointed that a member of the Select Committee cannot see fit to thank Jobcentre Plus advisers for their hard work.

[Andrew Bridgen (North West Leicestershire) (Con)]

Will my hon. Friend confirm that job vacancies are at their highest level since 2008?

[Mr Hoban]

Indeed, they are at their highest level since 2008. That is why we have record numbers of people in work, record numbers of women in work, and a record number of hours worked. It is about time the Opposition welcomed that.

Oral Answers to Questions

Debate between Mark Hoban and Andrew Bridgen

Monday 10th September 2012 Commons Chamber

[Mr Hoban]

The Health and Safety Executive is taking a proactive stance on the issue. It is issuing guidance to stakeholders and others and ensuring that there is a risk-based approach to inspections, focusing on installations likely to cause the highest risk of legionella. We are taking action to tackle the problem and no one’s life will be put at risk as a consequence of the changes that we are making.

[Andrew Bridgen (North West Leicestershire) (Con)]

Does my hon. Friend agree that it is essential for the Health and Safety Executive to work closely with local authorities, as they are the bodies that interact with, and regulate, many of those in the sector that are prone to legionella?

[Mr Hoban]

My hon. Friend is absolutely right. There is a shared responsibility, and that requires the HSE and local authorities to work closely together. It requires them to identify the risks in their areas and take the right steps, proportionate to those risks, to tackle the risk of legionella.

Northern Rock

Debate between Mark Hoban and Andrew Bridgen

Monday 21st November 2011 Commons Chamber

[Mr Hoban]

I just point out to the hon. Gentleman that the mandate for UKFI was to maximise value for money for taxpayers, and that mandate was set by the previous Government.

[Andrew Bridgen (North West Leicestershire) (Con)]

Has the Minister noted that the deal agreed with Virgin Money represents 80% of the book value of Northern Rock, whereas RBS and Lloyds are currently trading at only 40% of book value? Does not the deal represent good value for the taxpayer?

[Mr Hoban]

My hon. Friend is absolutely right. If we measure this deal against the values at which other banks are trading at the moment, it is very clear that it is good value for money for the taxpayer. Rather than carping and criticising, Labour Members should welcome the fact that at a difficult time for the global economy we have been able to sell Northern Rock and get such good value for money.

Regulatory and Banking Reform

Debate between Mark Hoban and Andrew Bridgen

Thursday 16th June 2011 Commons Chamber

[Mr Hoban]

My hon. Friend makes two important points. The first is to recognise the role played by the Financial Services Compensation Scheme in protecting depositors up to that £85,000 limit. The other point is that there is collective amnesia among the Opposition about their role in the financial crisis. Yes, Northern Rock took place before the global financial crisis—and they were the champions of light-touch financial regulation and introduced the tripartite system of regulatory reform that was shown to fail during the crisis. The Opposition need to recognise their responsibility; until they do so, it will not be possible for them to move on.

[Andrew Bridgen (North West Leicestershire) (Con)]

Does my hon. Friend agree with the recent report from the other place saying that the tripartite authorities

“failed to maintain financial stability and were found wanting in dealing with the crisis, in part because the roles of the three parties were not well enough defined and it was not clear who was in charge”?

[Mr Hoban]

My hon. Friend makes an absolutely vital point. The failure of the financial regulatory system put in place by the Labour party when in government was hard-wired into the system. It was destined to fail because of the failure to identify a clear match between the people who had the power and those who had the responsibilities for managing financial stability. My hon. Friend is absolutely right. The previous system was destined to fail. We have learned the lessons from that crisis; I am not sure that the Labour party has.

Finance Ministers’ Meeting (Ireland)

Debate between Mark Hoban and Andrew Bridgen

Wednesday 17th November 2010 Commons Chamber

[Andrew Bridgen (North West Leicestershire) (Con)]

Does the Minister agree that the test of any currency is in the tough times, not just the good ones? That was explained to all the countries that joined the euro, many of which, in my view, did so with their eyes wide shut. Is it not abhorrent that this liability, and the failure of the euro, should become a liability to the UK taxpayer at this time?

[Mr Hoban]

I do think that we have an interest in having a strong, stable eurozone and eurozone economy. Member states will reflect on the measures that need to be taken to strengthen the eurozone; that is part of the thinking behind some of the measures in the economic governance paper proposed by Herman Von Rompuy just a few months ago.

Oral Answers to Questions

Debate between Mark Hoban and Andrew Bridgen

Tuesday 16th November 2010 Commons Chamber

[Mr Hoban]

Of course there are areas where more work needs to be done, and the hon. Gentleman is right that Michel Barnier has made further proposals, in a consultation paper that he published earlier this year. They included looking at the business models for credit rating agencies. However, I question whether taxpayers in Europe would feel it right that their money should be going to fund credit rating agencies.

[Andrew Bridgen (North West Leicestershire) (Con)]

Is it not a cause for cautious optimism that agencies such as Fitch, Moody’s and Standard & Poor’s have now given the UK such an excellent credit rating?

[Mr Hoban]

My hon. Friend is absolutely right, and it just goes to show that credit rating agencies do not get it wrong all the time. In May, Standard & Poor’s put the UK’s credit rating on a “negative outlook”, as a consequence of the previous Government’s policies. However, in October it said that

“the coalition parties have shown a high degree of cohesion in putting the U.K.’s public finances onto what we view to be a more sustainable footing.”

We welcome those comments.