Living Standards

Debate between Stella Creasy and Greg Clark

Wednesday 4th September 2013 Commons Chamber

[Greg Clark]

Where has the hon. Lady been for the past three years? We have reformed the planning system. Since the national planning policy framework was adopted, which I had something to do with, planning permissions for new homes have risen by 22%. That is the action that is required if the problems that she identifies are to be solved.

The Labour motion talks about the standard of living, but no Government in living memory have done more to scupper the standard of living of ordinary working people in this country than the last Labour Government.

[Stella Creasy]

The Minister wants to talk about his Government’s record, so let us talk about the last six months alone, during which the proportion of people in this country who are worried about their personal debt has risen to 50%—20 million people in this country are desperately worried about the level of personal debt that they are in. Does he accept that his low-wage economy is part of the reason why so many families in this country are lying awake at night, frightened about how they will put food on their table and make it through to the end of the week?

Financial Services Bill

Debate between Stella Creasy and Greg Clark

Monday 10th December 2012 Commons Chamber

[Greg Clark]

The hon. Gentleman knows that the term, “payday lender” is relatively informal and loose. It is important for the FCA to have the powers it needs to protect consumers. Its focus should be on the consumer, rather than on a current definition of a practice pursued by a supplier. That is the way it is cast and it is the right power. From the discussions in the House of Lords last week—as he might imagine, I paid close attention to them—it was apparent that everyone who has taken a close interest in the past weeks, months and, in some cases years, was content that the powers vested in the FCA, which are clarified in the amendment, address all the concerns shared by Members on both sides of the House.

[Stella Creasy (Walthamstow) (Lab/Co-op)]

I encourage the Minister to broaden his comments to encompass all our concerns about high-cost credit companies. Having seen the wonderful damascene conversion to the need to tackle these companies, many of us want to ensure that we do not inadvertently miss out on not just those payday or short-term lenders, but doorstep lenders, logbook loans and hire purchase agreements. High-cost credit encapsulates all those issues, and I think it would be welcome to the regulator to know that the intention of Parliament is precisely to tackle the whole industry.

[Greg Clark]

I am grateful to the hon. Lady for her point, which makes the point I was making to the hon. Member for Harrow West (Mr Thomas). To use the term “payday lenders” exclusively is to miss a broader range of potential practices that may cause detriment to consumers, and that is why this approach is about the powers vested in the regulator.

Oral Answers to Questions

Debate between Stella Creasy and Greg Clark

Thursday 21st October 2010 Commons Chamber

[Stella Creasy (Walthamstow) (Lab/Co-op)]

14. What plans he has for future funding to facilitate community management and ownership of local community assets; and if he will make a statement.

[The Minister of State, Department for Communities and Local Government (Greg Clark)]

The Government will be making it much easier for communities to take on community assets, through the community right-to-buy provisions in the localism Bill. Following the spending review statement yesterday, we will shortly be announcing our plans to provide further funding to support communities in exercising that right. Communities can now get advice and practical help from the Government-funded asset transfer unit, and money is available this year through Communitybuilders for business development support and investment capital.

[Stella Creasy]

Residents living near the former St James street library in Walthamstow want to be part of the big society by buying the building and turning it into a community centre. The previous Government committed £20 million to an empowerment fund to help local people to make these things happen. Rights and announcements are all very well, but what actual funding can residents in my area expect to be able to bid for, to help to turn the rhetoric surrounding asset management into a reality?

[Greg Clark]

I know that the hon. Lady is a great champion for community facilities. She has had correspondence with me on this matter, and as a Co-operative party MP, she shares our belief that co-operatives have a great deal to offer. Perhaps I should refer to her as my hon. Friend in this context. The big society bank, which was announced by the Chancellor yesterday, will be expressly designed so that part of its purpose will be to make capital available, and I hope that her project will make one of the early applications to it.