Speeches by Reynolds.

“I am engaging with Martin Lewis, who is a doughty champion of consumers across the country. I say to the hon. Member that, due to the consumer duty, banks and other providers have a duty to ensure that they deliver the best outcomes for their consumers, but I note what he has said.”

“Absolutely. This is something that the Chancellor and I—and indeed the Business Secretary and the Business Minister—are passionate about, and we are making sure that we deliver on our manifesto commitment to double the size of the sector. We have asked the financial services regulators to report by the end of the year …”

“Well, what do I say to that? I think there is, with the exception of the hon. Member, cross-party support for the twin peaks financial services regulation that we have. Of course, we need proportionate regulation to ensure that there are protections in place for consumers. He seems to be suggesting that we get rid of t…”

“I can reassure the right hon. Gentleman that we are not suggesting getting rid of risk warnings. I think that is what he was asking me most directly. One of the investment platforms did some research into the wording of risk warnings, and he will probably know that there is quite a gender gap. If we look at the figures…”

“My hon. Friend is a great campaigner on this issue, and he is absolutely right: this is not an easy nut to crack. We will work closely with the industry-led campaign. We need to give people who want to invest and save for the longer term the confidence to consider whether they can secure better returns through investin…”

“It is always a great pleasure to come and give evidence to the hon. Gentleman’s Committee. I reassure him that the Government are upholding the ringfencing regime. We must strike the right balance between protecting financial stability and safeguarding depositors. Equally, we think that there are some flexibilities tha…”

“I reassure my hon. Friend that our agenda is to streamline regulation and make it more proportionate, and that there remain firm guardrails and affordability checks for mortgage providers. At the moment, the level of repossessions is very low and banks and other mortgage providers do all they can to avoid repossessing …”

“I reassure the right hon. Gentleman that we have not announced a listing review; we have announced a listings taskforce—[Interruption.] It is different, if hon. Members will let me explain. It is a joint piece of work between the Office for Investment, His Majesty’s Treasury and other Government Departments to make sur…”

“As was said previously, the package that we announced yesterday, as well as the announcement by the Bank of England and the FCA’s discussion paper, go to the heart of making sure that we have the right balance between ensuring people have affordable mortgage products and ensuring that those products are accessible to m…”

“I refer the hon. Lady to page 63 of the strategy, which is very useful. It sets out an ambitious timeline for implementing the reforms that the Chancellor set out at the Mansion House last night and in Leeds yesterday morning, and shows her that we have already taken action to implement some of the decisions we took in…”

“I could not agree more with my hon. Friend. We are intent on building the 1.5 million homes that we promised at the election. I remind the chuntering hon. Gentlemen on the Opposition Front Bench that even before the Planning and Infrastructure Bill, the OBR scored the first stage of the planning reforms as the largest …”

“We have a very good deal with the EU, which we agreed in May this year and will continue to build on. I was pleased to have invited the European Commissioner for Financial Services, Maria Luís Albuquerque, who was at the dinner last night at the Mansion House. I will try to get through all the hon. Member’s questions. …”

“I thank my hon. Friend for that thoughtful question. I am happy to talk to the Committee about that in more detail. What I will say is that the Leeds reforms regulate for growth instead of seeking to eliminate risk from the system altogether. We know that in order to get greater returns, there is a need to take informe…”

“Well, half of that was all right, I suppose. I do want to start constructively and thank the hon. Member for his welcome for some of the reforms. I will answer some of his specific questions before I come to the wider points. On the Financial Ombudsman Service, we have set out in great detail what we will do. As he wil…”

“With permission, Mr Speaker, I shall update the House on the content of the Leeds reforms. The reforms encompass the Government’s financial services growth and competitiveness strategy, which is our 10-year plan for financial services. This plan will make the UK the global centre of choice for financial services invest…”

“We are really excited about targeted support, because it means that firms will be able to make suggestions to consumers with similarities, so that they have the confidence to invest in the long term and can get better support—not advice—on their pensions.”

“Defence companies are an incredibly important part of the economy, and the hon. Member will know that we are increasing defence spending to up to 2.6% by the end of this Parliament. It has only ever reached those levels before under a Labour Government.”

“We understand the importance of in-person banking, in my hon. Friend’s constituency and elsewhere, which is why we secured a commitment from the industry to roll out 350 banking hubs across the United Kingdom. I am leading the work on a financial inclusion strategy, which we will publish later in the year and which emp…”

“I will ensure that the hon. Member gets a meeting with the relevant Transport Minister, but I hope that he is as excited as I am about the £1 billion that we are investing in the state-of-the-art Golden Valley development, which will create 12,000 high-skilled jobs and 3,700 new homes, and is close to the GCHQ headquar…”

“I welcome what my hon. Friend said. The Government are supporting the rural economy with over £2.7 billion a year for sustainable farming and nature recovery. We are investing £1.9 billion to improve digital connectivity, which will be important to the small businesses and others that she mentioned. As I said to the pr…”