Oral Answers to Questions

Debate between Sajid Javid and Damian Hinds

Tuesday 11th February 2020 Commons Chamber

[Sajid Javid]

With respect, I think the hon. Gentleman is confusing cutting spending and tackling waste, and we know that the previous Labour Government was good at neither of those, with overspending and loads of waste. It is right that as a Government we look carefully at every single pound that is spent and make sure it is done so appropriately.

[Damian Hinds (East Hampshire) (Con)]

T6. Creditor enforcement action can greatly exacerbate the problems that people going through mental health crises can experience. May I commend the Chancellor and the Economic Secretary for the breathing space initiative, which will help to ease the pressure on those people and so many more?

Oral Answers to Questions

Debate between Sajid Javid and Damian Hinds

Thursday 3rd July 2014 Commons Chamber

[Sajid Javid]

We work very closely with the Welsh Government on these issues. There is a lot to be gained from cross-co-operation, and a number of initiatives are in place.

[Damian Hinds (East Hampshire) (Con)]

8. Inbound tourism is as strategic a sector for this country as advanced manufacturing of pharmaceuticals, and the Tourism Council presents an opportunity for it to punch its weight. Will my right hon. Friend set his sights high in terms of productivity, skills development, and co-operative working on distribution channels in marketing this country to the world?

[Sajid Javid]

I absolutely agree. My hon. Friend will be pleased to know, as will other hon. Members, that last year inbound tourism hit a new record high of 33 million visitors spending a record amount of £21 billion in the UK. He rightly points out the importance of improving skills, and we are working with the Tourism Council on that.

Debt Advice (FCA Levy)

Debate between Sajid Javid and Damian Hinds

Tuesday 21st January 2014 Westminster Hall

[Sajid Javid]

I completely agree with my hon. Friend. He will know that I gave evidence to the Treasury Committee’s inquiry on MAS last year in my previous role as Economic Secretary. I said that the Government would have a full review of MAS during this Parliament, and over the coming weeks and months, I will set out how that review will take place. The review will consider some of the issues he raises.

[Damian Hinds]

As the Minister is on a roll, I have a question. Will he confirm that he said only that money would not be ring-fenced for debt advice, rather than that money would not go to debt advice? Perhaps we should all welcome that extra flexibility, but if he is suggesting that the money would still come in and would not necessarily involve levelling down other contributors, who would decide—and how would they decide—how that extra funding would be allocated between money advice and debt advice?

[Sajid Javid]

As my hon. Friend will find out, I am coming on to how MAS determines its budget. As we all would hope and expect, the budget is based on demand. More generally, MAS has a statutory responsibility to consult on its budget for the forthcoming year. Right now, MAS is consulting on its budget for 2014-15. This debate, the Business, Innovation and Skills Committee report and the information from stakeholders, which we have heard about today, are important in providing MAS with the information it needs to develop its budget for the future. That makes a big contribution to how MAS decides the correct allocation of resources for forthcoming years.

MAS’s budget is based on what it needs to achieve its statutory objectives. Although it is right that payday lenders contribute to that funding, it is also right that the funding is based on demand and that it delivers value for money. In the year ahead, MAS’s budget for debt advice will be based on its assessment of demand for such advice. MAS must consult on its plans for providing debt advice each year, which must then be approved by the FCA.

The National Audit Office recently commended MAS for delivering value for money in its debt advice provision. As we have heard, MAS is also carrying out ongoing research to ensure that the debt advice it funds has the best impact on consumers and that it reaches those who need it most. MAS recently conducted an in-depth study of where in the UK debt advice is needed most. The study shows that 21% of over-indebted people do not even recognise that they are in debt and that 44% of people who are in debt are not aware of the solutions available to them. It is important that MAS reaches such people and engages with them successfully to give them the help that they need. MAS will use the report to inform how it funds debt advice, thereby ensuring that it targets those who need it most. It is important to note that more money does not necessarily mean better provision.

Oral Answers to Questions

Debate between Sajid Javid and Damian Hinds

Tuesday 14th May 2013 Commons Chamber

[Damian Hinds (East Hampshire) (Con)]

T4. In the light of the Government’s commitment to helping families to save for their futures, can the Minister tell us when we will see the details of the consultation on the measure announced in the Budget to allow the transfer of savings from child trust funds to junior individual savings accounts?

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

My hon. Friend has raised an important issue. The details of the consultation will be published today, and the consultation will close on 6 August. It will deal with the question of whether transfers should be allowed, and if so on what basis. The Government propose that voluntary transfers should be allowed if requested by the registered contact for an account.