Contributions
1,280 recent contributions in Hansard
HANSARDCash AcceptanceThe hon. Lady makes an important point, although perhaps not the one she intended, about some of the challenges of cash in a rural location.20 Mar 2023HANSARDCash AcceptanceThe hon. Member makes a good point. He talked a lot about his rural constituency, which is a little larger than mine but also very rural, and brought that to life by talking about…20 Mar 2023HANSARDCash AcceptanceI will because my hon. Friend made some strong points earlier.20 Mar 2023HANSARDCash AcceptanceI advise the hon. Lady to explore with Link the provision of potential alternative cash machines and to explore with the Access to Cash Action Group the potential for a banking…20 Mar 2023HANSARD Silicon Valley BankAs I said to the hon. Member for Richmond Park (Sarah Olney), I do not think it is appropriate that I make comments from the Dispatch Box about the veracity or otherwise of…13 Mar 2023HANSARD Silicon Valley BankMy hon. Friend is absolutely right. Our actions demonstrate that we are on the side of business. We mean it when we say that we want to make the UK the best place to start, grow…13 Mar 2023HANSARD Silicon Valley BankWith your permission, Mr Speaker, I will make a statement on the steps His Majesty’s Government have taken to limit risks to our tech and life sciences sector. Following the rapid…13 Mar 2023HANSARD Silicon Valley BankI thank my hon. Friend and I again pay tribute to the hardworking officials from the Treasury and the regulators, and to my colleagues across Government, who pulled together…13 Mar 2023HANSARD Silicon Valley BankIt is a core focus for the Government to ensure that our scaling-up businesses get access not just to credit, but to capital at every level through their life: the Prime Minister…13 Mar 2023HANSARD Silicon Valley BankI completely agree. My hon. Friend knows a great deal about the subject, which reflects his background; he is absolutely right.13 Mar 2023HANSARD Silicon Valley BankHow this bank is run going forward is a matter for HSBC. However, HSBC is a prodigiously successful global institution that has bought SVB on the back of a desire to grow and…13 Mar 2023HANSARD Silicon Valley BankThe Government are always committed to steadying the ship. That is why we take a prudent approach to running the economy and why the Prime Minister’s priorities are to reduce…13 Mar 2023HANSARD Silicon Valley BankAs my hon. Friend knows, the Government are seeking to support challenger banks to make sure we have a vibrant and competitive sector. That includes looking at issues such as the…13 Mar 2023HANSARD Silicon Valley BankThe hon. Member talks about dependence on the US, but if that is her concern she should welcome this deal wholeheartedly, because we have taken a former subsidiary of a US…13 Mar 2023HANSARD Silicon Valley BankMy right hon. Friend is quite right to talk about risk and capital systems’ proficiency at recycling capital to productive uses. That is also an enormous focus of this Government…13 Mar 2023HANSARD Silicon Valley BankI am delighted that the hon. Lady’s constituents benefit from the certainty. It was a terrible weekend for everybody who was a depositor or who was in some way dependent on SVB…13 Mar 2023HANSARD Silicon Valley BankThat is, with respect, the whole point: it was a separate subsidiary. It did have a separate banking licence here and it did participate in the regulators’ stress tests here.…13 Mar 2023HANSARD Silicon Valley BankI can absolutely give my right hon. Friend that assurance. In doing so, let me also pay tribute to her work as a Member of the European Parliament between 2009 and 2017, when she…13 Mar 2023HANSARD Silicon Valley BankI cannot speak for the due diligence that was done for HSBC, but it has got itself comfortable with it. We should also understand the relative scale of HSBC, which is an…13 Mar 2023HANSARD Silicon Valley BankMy hon. Friend knows a great deal about the sector, and it is due to past reforms that we were able to take this decisive action. Parliament has given—in extremis, and with the…13 Mar 2023