Speeches by Coghlan.

“I am talking about failure of the fund manager, for example.”

“Just a quick question from me because we have kind of touched on it already. It is on the FCA versus your international peers. There is obviously scope for significant deregulation in the US following the presidential election. Is that likely to pull the FCA between the EU and the US if there is further divergence betw…”

“Mr Rathi, you make an excellent point on financial education and the new curriculum. Are we overcomplicating this? From my perspective, with financial literacy, if you look at equities for any 15-year period over the last 120 years, they have outperformed pretty much every other investment class and you have made a fan…”

“Yes.”

“You have bigger liquidity issues with that.”

“Yes. How do you prevent the FCA from becoming liable if you start urging people to take more risk and then they lose 30% of their money next year? Is that a risk for the FCA?”

“It was just a general example.”

“Mr Celic, I agree with significant amounts of what you are saying. I disclose that I spent five years working in investment management, 10 years ago. There are definitely issues around the regulator or Government incentives, but in my experience, there are significant issues around the industry as well—the fee structur…”

“Exactly, after year one, if they lose 30% of their money. Firms are maybe scared of recommending that, which goes to your point about consumer education or understanding, because of the psychological impact of that loss. I am thinking specifically about the collapse of Neil Woodford’s fund recently. To be clear, I do n…”

“On the subject of risk, I fully think there is an issue with the fee structure in the industry, and I would like to disclose that I used to work in investment management. Is there an issue with understanding the realities of equity investing? If you invest in equities, there is a very good chance that you are going to …”

“We have spoken quite a lot today about the competitiveness of the UK regulatory market. I am interested in how you think the second Trump presidency could play into that. If the US starts to swiftly deregulate and we have a race to the bottom, how should the UK respond?”

“Mr Celic, I agree with significant amounts of what you are saying. I disclose that I spent five years working in investment management, 10 years ago. There are definitely issues around the regulator or Government incentives, but in my experience, there are significant issues around the industry as well—the fee structur…”

“We have spoken quite a lot today about the competitiveness of the UK regulatory market. I am interested in how you think the second Trump presidency could play into that. If the US starts to swiftly deregulate and we have a race to the bottom, how should the UK respond?”

“On the subject of risk, I fully think there is an issue with the fee structure in the industry, and I would like to disclose that I used to work in investment management. Is there an issue with understanding the realities of equity investing? If you invest in equities, there is a very good chance that you are going to …”

“Exactly, after year one, if they lose 30% of their money. Firms are maybe scared of recommending that, which goes to your point about consumer education or understanding, because of the psychological impact of that loss. I am thinking specifically about the collapse of Neil Woodford’s fund recently. To be clear, I do n…”

“It was just a general example.”

“As the hon. Member will know, the Liberal Democrats have alternative measures for raising those revenues, but my fundamental point is that, yes, I welcome public investment, but it is flat in the Budget; it is not enough, in my view, and furthermore, it is not focused on the right areas. By contrast, economists have fo…”

“It is a pleasure to speak in this debate as a member of the Treasury Committee. After suffering the highest fall in living standards since records began, the United Kingdom desperately needs economic growth, yet the OBR forecasts that the policies in the Government’s Finance Bill and Budget will have no impact on growt…”

“Mr Thomson, the point you were making around the discount between the international Brent crude oil price and the Russia Urals crude oil price was very interesting. Is that real? How much is going on in the black market? Do we know whether that discount is real, in terms of what Russia is receiving?”

“I ask because I thought it was particularly interesting. One of my concerns around sanctions is that they feel good and they make us look like we are doing something, but is there evidence that they are actually having a policy impact on the recipient, in line with UK policy objectives? That maybe in itself is a good e…”