Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Sarah Olney Excerpts
Tuesday 1st July 2025

(3 days, 2 hours ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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It was great to be with my hon. Friend in Warwickshire just a couple of weeks ago to welcome some of the investment, through our industrial strategy and our spending review, which will turbocharge the British economy, creating more good jobs and paying decent wages in all parts of the country, including in Warwickshire.

Sarah Olney Portrait Sarah Olney (Richmond Park) (LD)
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Last week, ahead of the launch of its ethnicity code, the Lending Standards Board announced it would be closing, following the withdrawal of support from major high street banks. This was going to be a groundbreaking step towards tackling the barriers that ethnic minority business owners face in accessing finance. What steps will the Government take to ensure that the ethnicity code is implemented, supported and scaled, so that its principles are embedded across the financial sector?

Emma Reynolds Portrait Emma Reynolds
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I am aware of the situation. I reassure the hon. Lady that the Government are committed to ensuring that firms continue to deliver good customer outcomes, now and in the future, with proportionate regulation and oversight. I am happy to engage with her in more detail on the subject she mentions.