Oral Answers to Questions

Rosie Cooper Excerpts

Tuesday 22nd June 2021 Commons Chamber

[The Exchequer Secretary to the Treasury (Kemi Badenoch)]

My hon. Friend is absolutely right to say that the Government will need to ensure that revenue from motoring taxes keeps pace with the change away from petrol and diesel vehicles so that we can continue to fund infrastructure such as the A3, which she mentions. I am sure that colleagues in the Department for Transport can speak about her petition specifically, but I would like to reassure her and her constituents that this Government will continue to focus on record, unprecedented investment in the strategic roads network over this Parliament, through the £27.5 billion road investment strategy, which will deliver about 70 major upgrades.

[Rosie Cooper (West Lancashire) (Lab) [V]]

Does the Chancellor have confidence in the Financial Conduct Authority’s ability to appropriately regulate and sanction companies that defraud their investors? Furthermore, does he believe that if it is found that the regulator has failed to prevent this fraudulent activity, the Government have a duty to compensate?

[The Economic Secretary to the Treasury (John Glen)]

It is absolutely clear that there are significant lessons for the FCA to learn from the Gloster review, and I have regular conversations, including just last week, with the new chief executive on the transformation programme. He has employed five new senior executives to drive that programme forward urgently, and I look forward to seeing the results of that intervention.