Financial Services: Mansion House Speech
Debate between Meg Hillier and Caroline Nokes(6 days, 7 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Madam Deputy Speaker (Caroline Nokes)
I call the Chair of the Treasury Committee, Dame Meg Hillier.
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
I draw the House’s attention to the fact that a family member works for Allied Irish Bank, and to the fact that I am a trustee of a pension fund.
I want to ask my hon. Friend about the remit letter for the Financial Conduct Authority. Just as the pushmi-pullyu in “Dr Dolittle” did not know which way to go, there is a danger that if we try to pursue the secondary objective while protecting consumers, consumers could lose out. Could she set out clearly how she expects the FCA to ensure that it maintains its approach of protecting consumers? Could she pick up on the comment from the hon. Member for Wyre Forest (Mark Garnier) about whether there will be any move to mandate pension funds to invest in UK infrastructure?