Oral Answers to Questions

Debate between Philip Hollobone and Sajid Javid

Thursday 26th February 2015 Commons Chamber

[Sajid Javid]

I do agree with the hon. Gentleman. He will know that we offer vouchers for businesses in more than 22 cities under the superconnected cities programme, of which more than 10,000 companies have taken advantage. Many of the companies have clubbed together and I encourage others to do so.

[Mr Philip Hollobone (Kettering) (Con)]

Villages in the borough of Kettering on the Northamptonshire-Leicestershire border—right in the middle of England—will be among the last to get broadband, at the end of 2017, yet innovative cross-border thinking involving BT exchanges on the other side of the county boundary might bring about a quicker solution. Will the Secretary of State encourage such an innovative approach?

[Sajid Javid]

I absolutely agree with my hon. Friend, who has taken a strong interest in this matter. I have heard him speak in the House on behalf of his constituents on a number of occasions, and once again he comes up with an excellent idea, which we shall follow up.

Oral Answers to Questions

Debate between Philip Hollobone and Sajid Javid

Thursday 15th January 2015 Commons Chamber

[Sajid Javid]

We will be launching a consultation within weeks on this issue. I have spoken about it before, the last time being at the Royal Television Society. I agree that it is an important issue that has not been looked at for years. It is about time we did.

[Mr Philip Hollobone (Kettering) (Con)]

9. What progress he has made on improving mobile telephone coverage in (a) Northamptonshire and (b) England.

[Sajid Javid]

Last month we reached a landmark agreement with mobile operators to deliver improvements across the UK by 2017, including in England. This locks in £5 billion of investment and each operator will cover at least 90% of the UK landmass.

[Mr Hollobone]

Not spots are particularly frustrating not only for those who live in isolated villages where mobile phone coverage is often essential, but for those who are on the move by road or by train. What is the Secretary of State doing to tackle the problem of not spots?

[Sajid Javid]

My hon. Friend is right to raise the issue of trains and communications, which is why the Government have made a commitment to improve connectivity on trains. He may be aware that Network Rail is in the middle of a competition to work out the best solution to the problem. On Government support, my right hon. Friend the Secretary of State for Transport announced a few months back £53 million of funding for the programme, with money that Network Rail was supposed to return to the Government. I will also ask my right hon. Friend to give my hon. Friend an update.

Debt Advice (FCA Levy)

Debate between Philip Hollobone and Sajid Javid

Tuesday 21st January 2014 Westminster Hall

[Sajid Javid]

I value what the hon. Lady says. She has considerable experience of this subject from before she came to the House and she makes a good point. If she would find it useful, as I certainly would, I would love to sit with her and learn more about what she says, which could help to inform decision making. If she is agreeable, that would be a good step forward.

In the interest of time, I will answer some of the questions that have been raised. Spending time on debt advice, when there is a demand for it, is clearly the right thing to do, and it is crucial to establish how debt advice can best be delivered to reach consumers. My hon. Friend the Member for Worcester is right that debt advice should be funded appropriately to meet demand and to provide services that directly benefit consumers. Last year, 94% of MAS’s £34.5 million budget for debt advice was spent on front-line delivery services. MAS aims to provide 150,000 debt advice sessions this year; last year, it exceeded the same target by 8,000.

The shadow Minister asked whether I have had direct discussions with MAS about this issue. I have not had specific discussions about the levy, as it would not be appropriate for me to get involved at this stage, given the independence we rightly give to the FCA in its oversight of MAS regarding the levy structure. She may be aware that the FCA is still deciding the best way to structure the levy on the consumer lending industry, and it will publish details on that shortly.

The hon. Lady asked me about MAS more generally, and I again point her to the review that will take place, as the Government have promised, during this Parliament. She also rightly asked about alternative sources of lending, which we discussed in yesterday’s debate. She mentioned credit unions, and of course the Government are committed to helping to promote them. We have a credit union expansion project under which there is £38 million of Government funding to help credit unions to modernise and to increase their customer base across the country by more than 1 million. We also recently made regulatory changes to the interest rates that credit unions can charge to ensure that they are not losing money each time they make a loan commitment. As I said in closing yesterday’s debate, I would like to see what further action the Government may take to promote that important sector.

I once again thank my hon. Friend for securing the debate. He and many others made important points, and I know that he in particular cares deeply about consumer detriment in regard to the payday loan sector. He has already played a significant role in the Government’s response to consumer detriment in that area. He mentioned that he recognises that the FCA is independent, and I am sure that the authority has heard the arguments today and will reflect on them. I assure him that I will also further reflect on the points he and other hon. Members have articulated so well.

[Mr Philip Hollobone (in the Chair)]

I thank all who participated in that debate for their contributions. If they are not staying for the next debate, I ask them to leave quickly and quietly.

Co-operatives

Debate between Philip Hollobone and Sajid Javid

Wednesday 3rd July 2013 Westminster Hall

[Sajid Javid]

The hon. Lady will know that we have rightly given the power to an independent regulator to set capped rates, if it thinks that is appropriate in future. That is the correct way to deal with the issue.

In the interests of time, I must plough on. If we are to consider the wider mutuals sector, we should also consider building societies, which remain another key focus for the Government. We set out our approach to applying the recommendations of the Independent Commission on Banking on building societies in “The future of building societies” consultation paper. The consultation closed last year, and we are now considering how best to treat building societies in line with our aims. We will set out our proposed approach in due course.

Several other questions were asked, and before I conclude, I will try to answer some of them as best I can. A number of hon. Members raised the issue of co-ops in the energy sector. The Department of Energy and Climate Change published a call for evidence on community energy in June 2013, and it will publish a community energy strategy for autumn 2013. That highlights the Government’s commitment to supporting community energy projects.

A number of hon. Members raised the issue of housing. I agree that the co-operative sector has an important role to play in housing, particularly because, between 1997 and 2010, we saw a decline in social housing in our country of more than 421,000 units. I think that the co-operative sector can make a contribution to turning that around, and it will benefit from Government funds that have already been made available, in particular, for affordable housing.

The hon. Member for Islwyn raised the issue of Northern Rock. We believe that the sale was in the best interests of the taxpayer, securing the long-term future of Northern Rock plc and increasing competition in the banking sector. The decision to proceed with the sale was based on the advice that the Government received from United Kingdom Financial Investments Ltd and independent advisers, having considered all bids and all other potential options.

Finally, in the interests of time, I will just address one more issue about the use of the name “co-op”, which was a good point made by the hon. Member for Rochdale. That is something, as he rightly identified, that is being looked at by the Department for Business, Innovation and Skills. I am aware that very strong representations have been made to the Secretary of State for Business, Innovation and Skills, not least by Ed Mayo of Co-operatives UK. The Business Secretary has committed to looking into the matter further and to making an announcement shortly.

In conclusion, I reiterate the Government’s support for the co-operative sector, and I thank all hon. Members who have taken part in today’s debate, especially the hon. Member for Islwyn for making his case so well.

[Mr Philip Hollobone (in the Chair)]

Order. All good things must come to an end. I thank all hon. Members who took part in the debate and I ask those who are not staying for the next debate to leave quickly and quietly, because we are moving on to the important topic of selective licensing of landlords on the basis of poor housing standards.

Royal Bank of Scotland

Debate between Philip Hollobone and Sajid Javid

Thursday 13th June 2013 Commons Chamber

[Sajid Javid]

If I remember correctly, the hon. Gentleman was a member of the previous Government, not just a Government Back Bencher, so he was involved in decision making and presumably supported the action that the then Government took on banking regulation. I wonder whether he held those views back in 2007, just before the collapse of the British banking system, when the then Chancellor said in his Mansion House speech:

“I congratulate you Lord Mayor and the City of London on these remarkable achievements, an era that history will record as the beginning of a new golden age for the City of London.”

[Mr Philip Hollobone (Kettering) (Con)]

Will the Economic Secretary reconfirm that Stephen Hester’s exit package, while undoubtedly generous, is just one third of the amount that he could have got under the contract signed by the last Labour Government? Also, given that Her Majesty’s Government hold, on behalf of all our constituents, 80% of the bank, will he ensure that the terms of the contract for the new chief executive reflect Stephen Hester’s actual remuneration and not the theoretical remuneration put in place by the right hon. Member for Kirkcaldy and Cowdenbeath (Mr Brown)?

[Sajid Javid]

My hon. Friend makes a good point. I can confirm that, under the terms to which the previous Government signed up in 2008, when Stephen Hester was appointed, his exit package could have been three times greater. That again highlights the Labour party’s utter confusion on this issue.

Oral Answers to Questions

Debate between Philip Hollobone and Sajid Javid

Tuesday 6th November 2012 Commons Chamber

[Mr Philip Hollobone (Kettering) (Con)]

3. What recent assessment he has made of the level of employment in (a) Kettering constituency, (b) Northamptonshire and (c) England.

[The Economic Secretary to the Treasury (Sajid Javid)]

The number of people in employment in the year to June 2012 was 47,000 in Kettering, 347,000 in Northamptonshire and 24,497,000 in England. I am pleased to tell my hon. Friend that the number of people employed in each of those three areas is higher than when the Government took office.

[Mr Hollobone]

The employment rate in Kettering is well above the national average. Of all the policy options before the Chancellor, which offered the best prospects of sustained, long-term and lasting employment growth for my constituents in the borough of Kettering?

[Sajid Javid]

The one policy that brought the coalition Government together was our determination to deal with the record budget deficit we inherited. When the Government came to power, the previous Government were borrowing £300,000 a minute. We have cut the deficit by 25%, which has brought confidence and jobs back to Britain.