United Kingdom Statistics Authority

Debate between Natascha Engel and Kelvin Hopkins

Tuesday 7th March 2017 Commons Chamber

[Kelvin Hopkins (Luton North) (Lab)]

rose—

[Madam Deputy Speaker (Natascha Engel)]

Order. I will call the hon. Gentleman even though he was not here at the beginning of the debate. We are not short on time and he has promised that he will be brief.

Interest Rate Swap Derivatives

Debate between Natascha Engel and Kelvin Hopkins

Thursday 24th October 2013 Commons Chamber

[Natascha Engel]

That is a very good point. We have had any number of cases where they have been passed from pillar to post. One of the terrible aspects of all this is that the individuals affected do not know where they can go to get justice, and they certainly do not have very much time to do that, because their businesses are going bust while they are waiting for justice.

[Kelvin Hopkins]

This very morning I have been speaking to a constituent who has been driven to the edge of bankruptcy by what the banks have done, and I have helped him to some extent. My hon. Friend is making a point about the lack of force behind the action that has been taken so far. Is there not a case for strong Government action now and, indeed, as the hon. Member for Bedford (Richard Fuller) mentioned, for criminal sanctions?

[Natascha Engel]

Indeed, and I am going to finish on both those points.

One way to make sure the banks cannot drag their feet in the way that they have is to impose a moratorium on the payments. That would really focus their minds. If the money is not coming in, I am sure they would try to settle this matter once and for all much more quickly. The number of suspensions of payments—and only in those cases where people are suffering significant hardship—is an absolute scandal. The fact that 30,000 businesses or individuals are waiting for some kind of redress and only 32 have had redress is also an absolute scandal. Something must be done.