Nick Smith
Main Page: Nick Smith (Labour - Blaenau Gwent)Department Debates - View all Nick Smith's debates with the Leader of the House
(5 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Andrea Leadsom
Nice try, but sadly my hon. Friend will appreciate that that is not a call for me, although I am certainly a big fan of Colchester and his support for it. I encourage him to seek his own bid for some of that £600 million; it is open to any town to compete for it.
Nick Smith (Blaenau Gwent) (Lab)
British Steel pensioners in Blaenau Gwent have received poor advice, high adviser charges and seen their families’ fortunes put at risk. Being removed from the register and suffering financial penalties is insufficient to deter pension sharks. May we have a statement from the Treasury to promise new criminal charges for rogue financial advisers, so that they are properly held to account?
Andrea Leadsom
The hon. Gentleman is right to raise that issue, as it is worrying for people to receive cold calls that seek to remove their pension rights, or encourage them to invest in non-existent assets. That is an appalling scamming practice. The Government have already done a lot to improve people’s access to information and to stop such practices, but I encourage the hon. Gentleman to seek an Adjournment debate and to raise his concerns directly with Ministers.