Future of Financial Services

Mike Amesbury Excerpts

Monday 9th November 2020 Commons Chamber

[Rishi Sunak]

I pay tribute to my hon. Friend’s campaigning on this important issue. She asks the right question to make sure the money is going where we want it to go. I can give her the reassurance that we will be using the use of proceeds structure, along with the principles from the International Capital Market Association. That is the most widely used and recognised structure in the ESG—environmental, social and governance—investing space, and it is the structure that is used by pretty much all other sovereign issuers. It will ensure that the money raised goes where it is required and deserves to go.

[Mike Amesbury (Weaver Vale) (Lab)]

Credit unions have been a lifeline for many people in local communities during the pandemic. What steps is the Chancellor taking to support credit unions and the mutual sector in terms of growth?

[Rishi Sunak]

The hon. Gentleman is absolutely right about the importance of credit unions in providing credit to those who need it. My hon. Friend the Economic Secretary recently hosted a roundtable to make sure the industry is getting the support it requires.