Commercial Financial Dispute Resolution Platform

Patrick Grady Excerpts

Thursday 15th December 2016 Commons Chamber

[George Kerevan]

The right hon. Gentleman makes a fair point. In my experience, it has been those very whistleblowers who have suffered most in terms of mental stress. They started off trying to present justice to the community, the banking world and small businesses, and ended up losing their job, their family and their partnerships. They are still suffering to this day.

The issue is also economic. We have had eight years where, although there has been economic growth, levels of productivity have been poor, if not flatlining. A lot of that is due to the underperformance of the small business sector. It is not just individual businesses that have been affected by mis-selling and the lack of resolution. It has carried on to a lack of investment in new businesses, and it has been an additional factor in important entrepreneurs withdrawing from the business process. Unless we find a permanent resolution, we will not be able to create the economic growth that I know all of us in this House hope to see.

[Patrick Grady (Glasgow North) (SNP)]

My hon. Friend is right that a number of Members have constituency cases. He will be aware of my constituent, Mr Neil Mitchell, whose business was forced into administration by the RBS Global Restructuring Group. He finds himself almost in the role of whistleblower by trying to take private legal action. Does my hon. Friend share my disappointment at the lack of willingness of RBS to engage in dispute resolution, in particular the unwillingness of the chief executive to meet my constituent personally? Does he share my hope that the proposals in the motion, which I was glad to sponsor, can be taken forward?

[George Kerevan]

I take my hon. Friend’s point. There are so many individual cases. They cut across all the nations of the United Kingdom and Members of all parties. My plea to the Minister is that we desperately need to find a permanent resolution.