Business Banking Fraud
Debate between Steve Baker and William Wragg(5 years, 7 months ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Mr Wragg
My hon. Friend is absolutely correct about the role of GRG.
Following the cases of, at times, blatant mistreatment and fraud, which we saw consistently and across the board, there is either a lack of willingness or lack of capability from our investigative bodies, both civil and criminal, to pursue complaints. Instead, the victims of mistreatment and fraud are left to go round in circles making a series of fruitless complaints. The complaints are either made directly to the institutions that defrauded them in the first place, which have a vested interest not to investigate properly—as was the case with my constituent and the Royal Bank of Scotland—or referred to a series of industry-led trade bodies or the Financial Conduct Authority, which does not take on individual cases. It is simply not good enough.
The only successful prosecution for fraud thus far has been that of HBOS in Reading. That was not down to the actions of our regulator or the Serious Fraud Office relentlessly pursuing the truth to bring the perpetrators to justice. Indeed, the bank—first as HBOS and then as Lloyds, after the takeover—insisted there was no fraud, despite there being a victim with losses in the hundreds of millions of pounds.
Mr Steve Baker (Wycombe) (Con)
I want to put on record my personal admiration for the police and crime commissioner for Thames Valley, Anthony Stansfeld, who personally saw to it that the fraud was prosecuted.
I hope that my hon. Friend will agree that the current situation is not good enough. If the state is to fulfil its duty to protect the public from fraud, it will be necessary for the Government to find the money to equip the authorities to prosecute fraud cases without funds coming out of individual PCCs’ budgets.
Mr Wragg
My hon. Friend hits the nail on the head. I pay tribute to the police and crime commissioner, but I also wish to pay tribute to a couple of people who I believe are here in the Gallery today. Instead of the authorities investigating, it was left to a couple of music producers from Cambridge, Paul and Nikki Turner, to crack the case. I hope they are here in Parliament. They are still fighting for compensation for other victims of the crime.
Leaving the EU: Economic Analysis
Debate between Steve Baker and William Wragg(6 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr William Wragg (Hazel Grove) (Con)
Can my hon. Friend, the excellent Minister, name a single civil service forecast, leaked or otherwise, that has been accurate?
Mr Baker
No, I am not able to name an accurate forecast. They are always wrong, and wrong for good reasons. [Interruption.] Members are chatting at me from a sedentary position. My long-standing views on the flaws in the epistemology of the social sciences and the consequences for econometrics are well set out in various forums, and I encourage Members to go and have a look at them. I am happy to recommend a reading list.