Cost of Living Increases

Tom Randall Excerpts

Tuesday 25th April 2023 Commons Chamber

[John Glen]

As always, my right hon. Friend is on the money. The point is that forecasts predict many different things. I have been in the Treasury for nearly five years; forecasts for every fiscal event rarely prove to be true at the next fiscal event.

We must continue to focus on taking the right decisions, decision by decision, and prove those forecasters wrong. That means long-term, sustainable and healthy growth that pays for our NHS and schools, finds jobs for young people and provides a safety net for older people, all while making our country one of the most prosperous in the world. It also means reducing debt, which we are on track to do. In fact, because of the decisions we have taken and the improved outlook for the public finances, underlying debt in five years’ time is now forecast to be nearly three percentage points lower than back in the autumn. That means more money for our public services and a lower burden on future generations—deeply held Conservative values, which we put into practice today. It is these steps that will make our country and our people better off. We are also taking action to shelter the most vulnerable while we achieve these longer-term ambitions for the economy.

In the Budget, we announced that the energy price guarantee would remain at £2,500 per year until July 2023. That was funded in part by the energy profits levy that this Government introduced last year, recognising that profit levels in the sector had increased significantly due to very high oil and gas prices caused by global circumstances, including of course Russia’s invasion of Ukraine. The levy is expected to raise just under £26 billion between 2022-23 and 2027-28, on top of around £25 billion in tax receipts from the sector in the same period through the permanent tax regime. The energy price guarantee measure will save the average family a further £160 on top of the energy support measures already announced, bringing total Government support for energy bills to £1,500 for the typical household since October 2022.

It is worth recapping those measures. This Government have helped all domestic electricity customers with £400 off their energy bills through the energy bills support scheme. The energy bills support scheme alternative funding provides £400 to around 900,000 households that are not supplied by domestic electricity contracts and are unable to receive support automatically through the energy bills support scheme.

Our support has not stopped there. Alongside holding down energy bills, freezing fuel duty and increasing universal credit, we are giving up to £900 in cost of living payments to households on means-tested benefits. Starting from today, over 8 million families across the UK will receive the first £301 cost of living payment from the Government. That is the first of up to three payments for those on means-tested benefits, totalling £900 through 2023-24. Those entitled do not need to apply for the payment or do anything to receive it. The payments will be accompanied by a payment of £150 for people on eligible disability benefits this summer and a payment of £300 on top of winter fuel payments for pensioners at the end of 2023.

These are carefully designed interventions, targeted at the most vulnerable across communities in the United Kingdom. The latest payment follows on from the £650 cost of living payment delivered to households on means-tested benefits by the Government in 2022, with an additional £150 for individuals on disability benefits and £300 for pensioner households.

The Government of course need to recognise that some people will fall into difficulties. They have enabled local authorities to provide additional support with the cost of household essentials through a 12-month extension to the household support fund in England worth £1 billion, including Barnett funding. We are also ensuring that more than 10 million working-age families will see an increase in their benefit payments from April 2023, based on the September inflation figure of 10.1%.

While we shelter the most vulnerable, the public also rightly expect us to look further to the future, making sure we are taking steps to grow sustainably and securely in the long term. This Government are unashamedly pro-growth, because expanding the productive capacity of the economy is the only way to solve the productivity puzzle, which has dogged us for decades, and improve living standards for all.

One reason we are held back is because a great number of people have left the labour market altogether. As a Conservative, I believe there is virtue in work and getting people into work is the best way to avoid the ills and perils of poverty. There has been an increase of more than 1.5 million working households since 2010, which shows that we are on the side of working families. That includes our new game-changing childcare offer that will entitle working parents in England to 30 hours of free childcare per week, once their child is nine months old, and close the gap between parental leave ending and the current childcare offer.

In addition to making provision on free childcare, the Budget set out to remove barriers for the long-term sick and disabled, for jobseekers and for older people with our pension tax reforms. Part of the plan is welfare reform to support those who have been disengaged from the labour market. My right hon. Friend the Secretary of State for Work and Pensions has introduced a White Paper setting out reforms that will support more people who are long-term sick or disabled to try work without any fear of losing their benefits. Other policies that we announced at the Budget will then ensure that those individuals are better supported to stay and succeed in work. Overall, the Office for Budget Responsibility expects the spring Budget package to result in 110,000 more individuals in the labour market by the end of the forecast period.

The UK saw the fastest growth in the G7 over 2021 and 2022. Cumulative growth over the 2022 to 2024 period is predicted to be higher than that of Germany or Japan, and at a similar rate to that of France or the US. We have halved unemployment, cut inequality and reduced the number of workless households by 1 million. We have protected pensioners, those on low incomes and those with disabilities. We are continuing to lay the groundwork for a vibrant, innovative and growing economy that benefits communities and families up and down the country.

Having sat and listened to the shadow Minister—I was not smiling, but reflecting on what I heard—I think it is very unfortunate that the Labour party continues to play politics and snipe from the sidelines without a clear and coherent plan.

[Tom Randall (Gedling) (Con)]

I notice that the Opposition motion refers to freezing council tax; the shadow Minister also mentioned freezing council tax under Labour. However, Labour-run Gedling Borough Council is increasing council tax by 2.98% this year, in spite of the fully costed Conservative amendment that would have enabled a council tax freeze. Does my right hon. Friend agree that whereas Labour’s rhetoric is about freezing taxes, the reality is tax, tax and tax again?

[John Glen]

Absolutely, and I think the good people of Gedling will come to the right conclusions next week.

What is really clear is that this Conservative Government will get on with the business of resetting the conditions for growth after this enormously difficult period. We are setting the conditions for protecting the vulnerable and delivering for the British people. As a united Government, we remain focused on what really matters for the British people. I urge the House to reject the Labour motion.

Oral Answers to Questions

Tom Randall Excerpts

Tuesday 21st March 2023 Commons Chamber

[Julian Sturdy (York Outer) (Con)]

6. What fiscal steps he is taking to support businesses with the cost of energy.

[Tom Randall (Gedling) (Con)]

9. What fiscal steps he is taking to support households with the cost of energy.

[The Chancellor of the Exchequer (Jeremy Hunt)]

The Government have provided unprecedented support to help households and businesses with energy costs, totalling £94 billion for households and £8 billion for businesses. That is more than £100 billion over 2022 and 2023.

--- Later in debate ---

[Tom Randall]

Does my right hon. Friend agree that a long-term energy strategy is critical to helping people with the cost of living? Will he outline what steps the Government are taking to enable this through the funding of nuclear energy?

[Jeremy Hunt]

My hon. Friend is absolutely right to raise this issue, as is my hon. Friend the Member for Ynys Môn (Virginia Crosbie), who does so on every single occasion she can. Nuclear is important because there will be times when the weather does not generate the energy we need from renewable sources. That is why we announced in the Budget that we are going ahead with Great British Nuclear and with the competition for small modular reactors, provided that an investigation this year finds that that is viable, and we will class nuclear power as environmentally sustainable, subject to consultation.

Oral Answers to Questions

Tom Randall Excerpts

Tuesday 1st February 2022 Commons Chamber

[Lucy Frazer]

I am happy to meet the hon. Member to discuss the points he raises. We have taken a number of steps to ensure that people pay the full rate of council tax on second homes—96% of second home owners pay the full rate of council tax. He will know that the Government introduced the higher rate of stamp duty land tax for those purchasing additional properties, and only last year introduced a new SDLT surcharge of 2%, to ensure that houses are available for local people at reasonable prices. I am happy to discuss this further with him.

[Tom Randall (Gedling) (Con)]

11. What assessment he has made of the progress of the kickstart scheme.

[Danny Kruger (Devizes) (Con)]

16. What assessment he has made of the progress of the kickstart scheme.

[The Chief Secretary to the Treasury (Mr Simon Clarke)]

We know that young people have been disproportionately affected by the pandemic. I am delighted that, to date, more than 122,000 kickstart jobs have been started by young people across Great Britain, including in the constituency of my hon. Friend the Member for Gedling (Tom Randall). Youth unemployment fell by 11.1% in the three months to November 2021 and is lower than it was prior to the pandemic, and in December there were half a million more employees aged under 25 than in December 2020.

[Tom Randall]

I recently visited Severn Trent Water in Gedling, and staff told me how impressed they were with the kickstarters that the company had taken on. Can my right hon. Friend assure me that he is working hard to encourage more companies and organisations to get involved in the kickstart scheme, to get even more people back into work?

[Mr Clarke]

I completely agree with my hon. Friend. Kickstart is delivering valuable jobs and work experience to young jobseekers at risk of long-term unemployment. Although kickstart closed to new applications on 17 December, we are genuinely delighted at the response from employers. As I noted, more than 122,000 kickstart jobs have been started so far, and we expect more between now and the end of March. Employers should continue to engage with Department for Work and Pensions jobcentres and support the new way to work campaign to get more people into work.

Government Response to Covid-19: Public Inquiry

Tom Randall Excerpts

Thursday 22nd July 2021 Commons Chamber

[Tom Randall (Gedling) (Con)]

I thank my hon. Friend the Member for Thurrock (Jackie Doyle-Price) for introducing this debate this afternoon. She has very well summarised the report by the Committee, and I completely agree with everything that she says. I just take the opportunity, if I may, to thank the Clerks, the Committee staff and the witnesses who attended the Committee for their help in putting this report together.

The Government are right to commit to a public inquiry, and the report that the Committee produced is wide-ranging. I will limit my remarks to the scope of the inquiry, the power of the inquiry and the establishment of a secretariat. Coronavirus has been very broad; it has affected every aspect of our lives, so careful thought needs to be given to what an inquiry should cover. The Committee’s report has recommended, as my hon. Friend identified, a focus on learning lessons as the primary purpose, rather than apportioning blame. I was struck by Lord Butler’s evidence to the Committee. He referred back to the Scott inquiry and said that the terms of reference had been extended so far that it took three years to complete the report, which was far longer than necessary to determine the original question.

As a Committee, we also considered what powers the inquiry should have. The report recommends that it should be a statutory inquiry under the Inquiries Act 2005. The Committee heard arguments for and against a statutory inquiry. Sir Robert Francis, who chaired the Mid Staffordshire inquiry, said he valued the non-statutory basis of the inquiry, because it allowed him to speak to people privately. We heard also from Dame Una O’Brien, who is the former permanent secretary at the Department of Health and was secretary to the Bristol inquiry. She said that the full statutory powers will ensure that all material is handed over, especially WhatsApp messages and texts outside the departmental system. As recent events have shown, that will certainly need to be the case with any coronavirus inquiry. It makes the case for a statutory inquiry very strong.

I was surprised to hear that there is no standing secretariat for public inquiries. They are established from scratch. Sir Robert Francis told us how it had taken six to nine months from his appointment to the start of the inquiry to get going. He started with a blank piece of paper, and there was even a four-month process to go through tendering to appoint a firm of solicitors to the inquiry. There is a strong argument for putting together an inquiry sooner rather than later, to allow that important preparatory work to be undertaken.

I have seen the Government’s response to the report. I see that in many respects the Government notes the recommendations. I have seen, however, that sadly they have not accepted recommendation 5, on the timing of setting up the inquiry. While that is unfortunate, I look forward to seeing the Government’s plans for the inquiry develop so that in time the Government, the national health service and society as a whole can learn the lessons from this terrible period.

Oral Answers to Questions

Tom Randall Excerpts

Tuesday 27th April 2021 Commons Chamber

[The Financial Secretary to the Treasury (Jesse Norman)]

I thank the hon. Gentleman for his question. As he will know, we have covered this quite extensively in this debate so far. The self-employed scheme is very wide ranging and comprehensive. We have worked very closely with groups representing those who believe they have been excluded from the schemes—I have personally met many of them—and we have tried everything we can to incorporate them. We continue to engage with them, and we take the issue very seriously.

[Tom Randall (Gedling) (Con)]

The borough of Gedling has received more than £105,000 in welcome back funding to help its high streets reopen safely and successfully as restrictions lift, and I will be out visiting businesses in Gedling on Friday to encourage them to apply for restart grants. Would my right hon. Friend join me in not only welcoming those lifelines for businesses but in encouraging businesses to apply for all the help available so that they can get back on their feet as we start to get back to normal?

[Jesse Norman]

My hon. Friend is absolutely right. I salute the people of Carlton and I rejoice in the businesses of Mapperley. I encourage businesses across the constituency of Gedling to take advantage of the Government’s unprecedented package of support, including the £5 billion-worth of grant support that the Chancellor announced at Budget, which is providing a lifeline for businesses as they relaunch their trading safely.

Covid-19: Government Transparency and Accountability

Tom Randall Excerpts

Thursday 22nd April 2021 Commons Chamber

[Tom Randall (Gedling) (Con)]

As a first-term Member of Parliament, I am relatively new to the work of Select Committees. When I joined the Public Administration and Constitutional Affairs Committee, I expected to undertake important and valuable work scrutinising the heart of Government, but I did not quite expect to have to consider matters that are so crucial to everyday life and, indeed, matters of life and death.

Data—the number of coronavirus cases, where they are occurring and the number of tests conducted and vaccinations administered—have decided whether we can leave the house, go to work, see family or go to the pub. Getting data right is at the heart of getting the Government’s response right, so the Committee’s inquiry was timely and necessary.

I reiterate my thanks to the Clerk of the Committee and the staff who have done such sterling work in helping to put the report together; to the witnesses for providing their knowledge and insight; and to my hon. Friend the Member for Hazel Grove (Mr Wragg) for his chairmanship.

The Committee rightly recognises the efforts that the Government have made in pulling together data from a standing start 12 months ago. Governments do plan for catastrophes and emergencies, but I appreciate that this period has been exceptionally difficult for those in Whitehall. The coronavirus dashboard—to give an obvious, visible example of publicly available data—is very impressive, but for me the inquiry raised two issues on which improvements can be made in terms of the accuracy and certainty of data. The Committee found that the graphics the Government have used to present data have not always met the basic standards that would be expected. I welcome the assistance of the UK Statistics Authority and the Royal Statistical Society in supporting the Government to produce clearer graphics.

There is an understandable desire to present any information in the best possible light—it is a natural human instinct—but the news that we have had over the past year has not been good. We heard evidence that there has been a much greater public appetite for data, with people being willing to study it—particularly data on coronavirus—much more closely than perhaps they would have done in the past, so it is important that any information produced by the Government is accurate and well sourced. I trust that the report’s recommendation that statements on Government websites should direct readers to the detailed data that underpins any numbers will be taken forward.

There is a very human reluctance, particularly among politicians, to answer a question with “I don’t know,” but for periods in this pandemic, as we have been learning more about the virus and how it spreads, there have been questions to which we do not necessarily have readily available answers. I found the evidence that we heard from behavioural scientists very interesting. People do respond to open and honest information that is clear about the uncertainties within it, so it is important that Government communication trusts the people and levels with them.

Some thought is required on how information is communicated. I expect that, before this pandemic, few members of the public had heard of the Scientific Advisory Group for Emergencies. Members of SAGE now frequently contribute to public debate and are introduced as members of that group. While that is important, and they play an important role in helping to inform public understanding, it might be less appreciated that there are differences of opinion within SAGE. The Committee found that guidance for SAGE members would be helpful.

[Steve Brine]

One of the most interesting parts of the report is that these advisers, who probably enjoy the media requests that they get—although I can confirm that that wanes—appear as members of SAGE “speaking in a personal capacity”, but the public hear a Government adviser speaking about the subject of covid and draw conclusions from that. Does my hon. Friend agree that it is no wonder the public end up confused?

[Tom Randall]

My hon. Friend makes a very good point. The public perhaps do not appreciate that there are sometimes a variety of opinions within a group such as SAGE. Indeed, within SAGE, debate is encouraged as part of the decision-making process. Sometimes people think that there is a definitive scientific answer to something, which is not always the case. As we heard earlier, the report made further important points about sharing data, trusting bodies to make local decisions and the process of decision making itself.

This is, as I said, a timely report. I know that both the Chancellor of the Duchy of Lancaster and the Secretary of State for Health and Social Care have responded to some of its key recommendations, but I urge the Government to take on board all of them, so that, as we enter what is hopefully the final stage of this pandemic, even better decisions will be made.

Equitable Life

Tom Randall Excerpts

Thursday 21st January 2021 Commons Chamber

[Tom Randall (Gedling) (Con) [V]]

I am grateful to the Backbench Business Committee for allowing this debate, and I congratulate my hon. Friend the Member for Harrow East (Bob Blackman) on securing it, and on his co-chairmanship of the all-party parliamentary group for justice for Equitable Life policyholders, which I have been happy to join. He very eloquently set out the background to this matter in his opening speech, and I associate myself entirely with his comments. As he said, this situation has its origins in unique circumstances, and as the parliamentary ombudsman found in 2008, the victims’ losses have been directly attributable to a decade of serious and serial regulatory maladministration.

These matters have been well covered so far, but I would like to make three brief points. The Equitable Members Action Group has raised doubts about the accuracy and reliability of the Treasury’s methodology, and how it has been used to calculate the compensation payments made. I hope that can be addressed in the interests of open government, so that concerns in that area can be resolved. I also note the action group’s call for a joint inquiry on payment accuracy by the Public Accounts Committee and the Public Administration and Constitutional Affairs Committee. I am a member of the latter Committee, and I note that call. I am sympathetic to it, so that this can be looked into further.

This is a very technical matter, but I think we should look at the human side of it as well. A recent Prime Minister said:

“The British people are decent, sensible, reasonable and they just want a government that supports the vulnerable, backs those who do the right thing and helps them get on in life.”

That really sums up some of the Equitable Life victims I have met in Gedling. I have met only a small handful of the 2,300 victims and their dependants in my constituency, but they come across as quiet, unassuming people who do not want to cause a fuss, and tried to do the right thing, work hard, and make the right preparations for their retirement. It is time that we tried to address their valid concerns. Equitable Life had a series of adverts in the early 1990s that traded on the solidity of its investments. A 1993 commercial finished with the slogan, “You profit from our principles”. That appears not to have occurred, and I hope this is something that we can finally begin to address.

[Madam Deputy Speaker (Dame Eleanor Laing)]

I would like to try to give everybody on the list a chance to speak. Therefore, with apologies to the right hon. Member for Orkney and Shetland (Mr Carmichael) for giving him no notice whatsoever, I now have to impose a time limit of three minutes.

Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

Tom Randall Excerpts

2nd reading & 2nd reading: House of Commons
Friday 11th September 2020 Commons Chamber

[Ruth Edwards]

I completely agree with my hon. Friend. In fact, protecting the integrity of the co-operative model is one of the issues that I have with this Bill.

Returning to my opening remarks about the strength of green investments, I have made the case in the past that such investments should lead the way in helping us to recover from this pandemic. There is no point in building back to what we had before. Studies have shown the strength and resilience of these sorts of investments following from times of crisis and uncertainty, such as after the 2008 financial crisis.

The Bill outlines that the capital gained from green bonds is to be invested in a way that can maintain and enhance a biodiverse natural environment with healthy functioning ecosystems that support social, economic and ecological resilience. This entails the invested capital being centred around the green economy and climate action, including in new and emerging technologies, renewable energy, transport, housing and waste management. I remind the House that those are areas of considerable Government attention and investment in recent spending rounds, contrary to some of the opinions that we have heard today from those on the Opposition Benches. There are too many achievements to list today, but I am going to name a few relevant examples.

We have reduced emissions faster than any other G7 nation, while also leading the G7 countries in economic growth and providing £3 billion for contracts to help develop less established renewable technologies by 2022 to 2023. We have put funding into hydrogen fuel research and established the Hydrogen Advisory Council. The Chancellor recently announced a £2 billion green homes grant, which is going live this month, to support the retrofitting of houses across the country, benefiting communities and reducing fuel poverty. For electric vehicle markets, a round of private capital was raised in 2018, backed by the Treasury, bringing the private sector on board and directing significant and meaningful investment to the electric vehicle supply chain. Many of these plans will bring the added bonus of generating sustainable, high-quality jobs for the green economy. Our landmark reforms in agriculture, the first of their kind in 30 years, will promote sustainable and productive livelihoods for UK farmers.

Data show that co-operatives do great work in many areas of the country. The Government are doing a lot to remedy geographical imbalances in our economy, and I join them in supporting the UK-wide levelling up agenda. Although we seek to support the continued growth of co-operatives, we should remain mindful of the core and foundation principles by which co-operatives operate. I acknowledge the intention of the Bill to protect the mutual status of co-operatives while allowing access to new routes of capital, with environmental parameters as to how that capital is used; however, the autonomy and democracy contained within a co-operative is one of its core strengths and appeals, and I feel that much more detail is required to explain how, in practice, many of the Bill’s ideals will function without undermining those values. To me, there remain questions of compatibility between the ability of members to vote and the demands of investors parting with their money.

First, I believe that co-operatives would need to state in the clearest of terms how they intend to use the capital to attract the right mission-minded investors in the first place. That is especially important when considering that the Government have already increased the capital limit that can be raised from members from £20,000 to £100,000, as several hon. Members mentioned earlier. If we are talking about an ambition to attract investments greater than £100,000, investors will almost certainly demand a high level of detail in advance. In practice, it could be difficult for co-operatives to reach a democratic consensus on that detail. I worry that the uncertainty might be off-putting for some types of investors, and indeed the amount of money that the Bill intends to attract.

I also wonder about the autonomy of a co-operative after receiving such substantial levels of investment. One reason for the £100,000 limit on individual membership capital is so that no single member can command undue influence as a result of their financial contribution. I think it is naive to believe that investors will have no demands or will not lobby the membership to vote in certain directions, and would be satisfied paying into a co-operative—even a community benefit society—that they were otherwise not previously a member of, even with the other benefits that membership brings. That last point is especially true when shareholders only entitlement is, to quote the Bill,

“the general level of compensation”

otherwise afforded to members.

I also fail to see how investors will be enticed by the ability to redeem their shares for only the nominal value of the investment, as set out in the Bill. If individual retail investors or existing co-operative members seek to buy green shares, there is the potential that the risk of the instruments could be underestimated or understated. It appears from the Bill that there is no ability to withdraw their capital, counter to the usual way membership capital is treated in a co-operative.

That sort of risk, even generated from a well-intended scheme, resonates strongly with me because in Nottinghamshire we have recently had a huge eye-opener to how schemes set up with the greatest of intentions can go horribly wrong if the right risk management and governance is not put in place. I am referring to the, now failed, Robin Hood Energy company, which was set up by Nottingham City Council as a not-for-profit company to deliver affordable energy in a sustainable way to people living in fuel poverty.

That is a highly commendable aim, but the company’s structure meant that it did not have to pay dividends to shareholders, and it could use its savings to universally reduce the cost of energy to its customers. It promised average annual savings of £237— all very good aims, but throughout its operation the firm was reported to have admitted that the scheme did not provide value for money, and that dozens of cheaper tariffs existed elsewhere in the private sector.

[Tom Randall (Gedling) (Con)]

My hon. Friend is completely right to highlight the failure of Robin Hood Energy. She might be aware that it did not just have customers in Nottingham and Nottinghamshire; it had customers beyond that. I believe it was quite popular in Islington, particular in northern Islington, including with the local Member of Parliament. Does she agree that it was wholly unfair that the working-class taxpayers of St Ann’s, Sneinton or the Meadows in the city of Nottingham should subsidise the fuel bills of leafy Islingtonians?

[Ruth Edwards]

I certainly agree with my hon. Friend on that point, but they are subsidising those bills no more because, as he knows, the company has collapsed and is having to be rescued by British Gas. It has collapsed in financial ruin, and the result has been a huge economic and human toll, with tens of millions of taxpayers’ pounds lost—the current estimate is about £38 million—and 230 people will lose their jobs.

--- Later in debate ---

[Tom Randall (Gedling) (Con)]

I am grateful for the opportunity to speak in this debate. I appreciate the contributions of colleagues, who have spoken with great erudition and insight into these issues, and I congratulate the hon. Member for Cardiff North (Anna McMorrin) on bringing this Bill before the House and on her passionate remarks in favour of it.

This is a bold Bill and, I believe, a well-intentioned one, but it is not entirely original. Similar legislation has been passed in other jurisdictions, including Australia. The Treasury Laws Amendment (Mutual Reforms) Bill 2019 was passed by the Australian Parliament last year. In the debate in the House of Representatives, Dr Andrew Leigh, the Member of Parliament for Fenner, said:

“Mutuals build trust and reciprocity. They are an essential part of an inclusive society helping to foster empathy for our fellow human beings. Cooperatives and mutuals, as member-owned enterprises… are voluntary associations of people, democratically run for their members, for the pursuit of a common social, cultural or economic goal.”

If I might be forgiven for quoting not only a Labour Member but an Australian Labour Member with approval, I think that is a noble aim that we can all support. We see that very much in our local communities. There are many examples of local co-operatives in our society, and particularly on the high street, where we see Co-op shops, of which there are many in Gedling. I particularly enjoy my local Co-op, and I am grateful to the staff there for their friendly service. Every Co-op that I have ever visited has always offered a range of high-quality food in a well laid-out store. That is perhaps one of the most visible example of co-ops; we have heard many other good examples in the debate.

[Ben Everitt]

I wonder whether my hon. Friend is aware that the birth of the futures market—one of the most important financial parts of our economy—was the inadvertent result of a co-op of French nuns putting together the sale of a harvest that had not yet been sown.

[Tom Randall]

I was unaware of the enterprise of French nuns, but I am in awe of what they can achieve. I am grateful for that fascinating intervention.

The Bill has laudable aims, allowing co-operatives and community benefit societies to gain powers to raise finance by issuing redeemable green shares to external investors and investing the capital raised in an environmentally friendly, sustainable manner. I also appreciate the intention for there to be safeguards in the Bill to prevent the issuing of shares leading to the undermining of a society’s conversion into a commercial company, though I heard the criticisms of that made eloquently earlier.

It is perhaps worth noting, as my hon. Friend the Member for Rushcliffe (Ruth Edwards) alluded to in her speech, that sometimes when things go wrong, they do so quite badly. As my hon. Friends the Members for Northampton South (Andrew Lewer) and for Clwyd South (Simon Baynes) said, sometimes investments do go down as well as up, and it is possible to lose money in a new scheme.

The hon. Member for Cardiff North spoke a lot about community energy. As my hon. Friend the Member for Rushcliffe outlined, in Nottinghamshire we are scarred by the failure of Robin Hood Energy, which recently collapsed with the loss of over 200 jobs. The setting up of Robin Hood Energy was laudable: it was designed to create a wholly owned subsidiary of Nottingham City Council to create a not-for-profit subsidiary to tackle fuel poverty in Nottingham and provide a real alternative to the big six energy suppliers. As I said in an intervention, it had customers way beyond the city of Nottingham, and it did provide energy, but it has now failed at a cost of tens of millions of pounds to an inner-city local authority.

The rather damning report by Grant Thornton into the reasons for the failure of Robin Hood Energy centred around many of the governance arrangements. It said that the arrangements put in place by Nottingham city council for setting up and operating an energy company—a highly ambitious project in a complex, competitive and highly regulated market—were not strong enough, particularly given the nature of the company and the markets. It has been pointed out that there was insufficient appreciation within the council of the huge risks involved in owning and investing in an energy company such as Robin Hood Energy. There was insufficient understanding within the council of Robin Hood Energy’s financial position due to delays in the provision of information by the company, the quality and accuracy of that information and a general lack of expertise at the non-executive board level.

It perhaps would be unfair to judge the entire co-operative movement on the inept leadership of Labour-controlled Nottingham City Council, but it does help to raise the kind of concerns that might arise over the operation of these companies. My hon. and right hon. Friends have outlined those concerns in more detail. I look forward to seeing how the legislation and the ideas develop.

[Sally-Ann Hart (Hastings and Rye) (Con)]

Given the nature, aims and objectives of co-operatives and community benefit societies, does my hon. Friend agree that our concern is that the Bill will undermine the integrity of these organisations and expose them to exploitation as investment vehicles, rather than socially beneficial institutions?

[Tom Randall]

I entirely agree with that concern. Certainly, as things become more complex, bigger and more ambitious, one risks losing sight of what one originally set out to be and create. That is a valid concern, which we should think carefully about when considering the matter.

I am grateful to have listened to the erudite and insightful arguments critiquing the Bill and its shortcomings. I do not feel that I can support the Bill, unfortunately, but I look forward to seeing how the arguments and the beliefs that underpin it develop in the time to come.

Public Health England Review: Covid-19 Disparities

Tom Randall Excerpts

Thursday 4th June 2020 Commons Chamber

[Tom Randall (Gedling) (Con)]

The Cabinet Office Race Disparity Unit supports Departments in driving change where disparities are found. Will the Minister ensure that the unit is dedicated to understanding how to close the gap in respect of coronavirus?

[Kemi Badenoch]

Yes, my hon. Friend is absolutely right. We need to look at a whole range of areas. I go back to what I said earlier about this being not the end of the review process but the beginning. I urge Members from all parties, if there are areas that they want us to look at, to please write to me so that we can make sure that we include them.

Oral Answers to Questions

Tom Randall Excerpts

Tuesday 11th February 2020 Commons Chamber

[Rishi Sunak]

Local government deserves enormous praise for the hard work that it did in helping to restore this country’s public finances to a sustainable state. We all know why we were in that situation a decade ago, but we can now look forward with confidence. Local government is benefiting from a very significant increase in spending power this year. The hon. Lady is right to highlight the pressure on social care, which is one of the largest areas of spend, which is why the Government have just committed an extra £1 billion in social care grant to help local authorities to alleviate that pressure this year and into the future.

[Tom Randall (Gedling) (Con)]

11. What plans he has to help ensure equity of economic opportunity throughout the UK.

[The Chancellor of the Exchequer (Sajid Javid)]

We will level up opportunity across the UK to ensure that every region and nation benefits from growth, including through better infrastructure, public services and investment in skills. I will set out more details in the Budget through the national infrastructure strategy.

[Tom Randall]

Many of my constituents are delighted about the Government’s plans to level up funding across the country. Will my right hon. Friend tell me what that will mean for the people of east midlands and my constituents in Gedling?

[Sajid Javid]

As we level up opportunity in every region, we will make sure that the whole country benefits, including the east midlands. That includes, for example, the £3.6 billion towns fund that we have announced, with 16 town deals in the east midlands. The Government are also committed to the £250 million growth deal, which provides funding for the Derby, Derbyshire, Nottingham and Nottinghamshire areas and will include projects such as the Gedling access road.