Football Index Collapse: Lessons Learned

Debate between Patricia Gibson and Stuart Andrew

Wednesday 24th April 2024 Westminster Hall

[Stuart Andrew]

I understand the hon. Lady’s point, but it is important that these things are looked at properly, under the remit of the existing legislation. The Gambling Commission has done a lot of work in this space to try to deal with the grey area that the hon. Member for Inverclyde (Ronnie Cowan) mentioned. I want to come on to that point, because the cryptoasset side of things brings in another area of work.

I assure Members here that I will speak to my Treasury colleagues to highlight this issue, and to ensure that we do not find ourselves in a position like this again and address each of these issues. I am confident that the relationship between the Gambling Commission and the FCA is much improved and that the regular meetings between the two organisations will ensure that there is not a slip again. However, in order to get this right, I am more than happy to speak to colleagues in other Departments to ensure that no cracks still exist.

[Patricia Gibson]

I want to press the Minister: can he assure me that he will go away and look at the suggestion made by David Hammel of the Football Index action group about a route to deliver compensation without having to take it directly from the taxpayer?

[Stuart Andrew]

I think it would be worth more than my life’s worth to commit Treasury colleagues to a policy, but I understand the hon. Lady’s point. I have seen that suggestion and I am sure that Treasury colleagues will have views on it. I will raise that with them and write to hon. Members following their response.

I thank everyone who has contributed to the debate. I hope that I have been able to provide clarity about some of the lessons that have been learned from the collapse of Football Index and the action that has been taken by the Government, the Gambling Commission and the FCA as a result. I understand the real consequences that people have felt. This debate has been invaluable for me to ensure that we consider all the issues that need addressing and speak to colleagues across Government so that we do not see this awful situation happen again.

Oral Answers to Questions

Debate between Patricia Gibson and Stuart Andrew

Thursday 11th January 2024 Commons Chamber

[Patricia Gibson (North Ayrshire and Arran) (SNP)]

T5. As the Secretary of State will be aware, charities are facing an extremely challenging fundraising environment and, at the same time, are trying to respond to increased demands due to the cost of living crisis. Will she explain why the Government continue to impose sales restrictions on charity lottery fundraising, the removal of which would not cost the Treasury a single penny, but would ensure much-needed additional funds for charitable causes? That would hugely benefit communities in my constituency and across the whole UK.

[The Parliamentary Under-Secretary of State for Culture, Media and Sport (Stuart Andrew)]

As probably one of the few Members of this House who have actually set up a charities lottery, I understand the importance of them. It is right to say that we did a significant review of them not so long ago. I know the hon. Member is probably referring to one particular lottery, and I have written to that lottery with suggestions, having consulted with the Gambling Commission, of ways it may be able to expand within the current remit. But, as a Department, we are extremely busy at the moment dealing with the gambling White Paper—that has to take priority. Once we have done that, we will consider what further work may need to be done on society lotteries.

Oral Answers to Questions

Debate between Patricia Gibson and Stuart Andrew

Thursday 9th March 2023 Commons Chamber

[Patricia Gibson (North Ayrshire and Arran) (SNP)]

2. What assessment she has made of the impact of increases in the cost of living on the charity sector.

[The Parliamentary Under-Secretary of State for Culture, Media and Sport (Stuart Andrew)]

We know that many charities are seeing increased demand for their services from individuals, and they are contending with increased running costs, which is having an impact on their financial situation. With Government support, charities have shown significant resilience over the last few years. I and my Department regularly engage with sector stakeholders and continue to monitor the impact of rising costs.

[Patricia Gibson]

Research into charities and donation trends has revealed that 36% of consumers will cut their charitable donations in the next three months, which may see charities lose up to £580 million. What recent assessment has the Minister made of the impact of the cost of living on the charity sector amid concerns of economic viability? What additional steps can the Government take to support charities through these difficult times?

[Stuart Andrew]

The hon. Lady is absolutely right to raise this issue; it is one reason that I have made sure that I am continually engaging with the sector to understand exactly what the situation is and how it is dealing with it. There has been significant support in the past and I continue to talk to colleagues across Government about how we can help. I was also pleased that this week, as a result of the dormant assets scheme, a further £76 million has been allocated specifically to address cost of living problems.