Speeches by Reynolds.

“Sorry; could the hon. Gentleman remind me of the specific question?”

“I beg to move, That the Committee has considered the draft Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025. As ever, it is a pleasure to serve under your chairmanship, Mr Mundell. I am grateful for the Committee’s time this afternoon. Financial services fulfil a vital role for …”

“I would be happy to meet my hon. Friend to discuss that issue.”

“We are in weekly touch with the Financial Conduct Authority, which regulates mortgages, and under this Government we have seen four interest rate cuts since the election, which is bringing mortgage rates down for hard-working people across the country.”

“I am really sorry to hear about the circumstances that my hon. Friend’s constituent is facing, and I would be happy to meet her to discuss the issue further. Lifetime mortgages are complex financial products, and I suggest that anyone considering equity release seeks independent financial advice to help ensure those pr…”

“I thank the hon. Gentleman for raising this important issue. I discuss mortgages with lenders and, indeed, with the Financial Conduct Authority on a weekly basis, and I will ensure that I pass on his comments.”

“As we announced in the spring statement, we are looking for options for ISA reform to ensure that we get the balance right between cash and equities. I can reassure my hon. Friend that we understand that cash savings are a vital tool for people and act as a financial buffer for a rainy day.”

“As I said in my previous answer, we have secured the commitment of the industry to open 350 banking hubs by the end of this Parliament. The FCA keeps the access to cash rules under review. As legislated for under the last Government, it has the power to make rules to ensure that there is access to cash across the count…”

“Our Government secured the commitment of the banking industry to roll out 350 banking hubs across the country; 200 have already been agreed and over 150 are open. The financial inclusion committee, which I chair, is looking at financial inclusion, including digital banking and ensuring that people have the bank account…”

“Lifetime mortgages have been regulated by the FCA since 2004. Those rules provide robust consumer protections, including requiring lenders to engage and provide tailored support to all their customers.”

“I thank both hon. Members. As I expected, the shadow Minister agrees with the policy of the previous Government. He asked a couple of questions, and I will take them in the wrong order. The shadow Minister is right that there is a very slight difference between ruling clearing out completely and making the exemption pe…”

“I beg to move, That the Committee has considered the draft Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025. It is a pleasure to serve under your chairmanship, Mr Betts. The draft regulations will remove the time limit on the temporary exemption that pension funds have from clearing over-the-coun…”

“I have a bit more time then. My hon. Friend the Member for York Outer talked about access to finance for defence companies with regard to bank accounts. That is a commercial decision. He also mentioned access to credit, loans and cash flow, where we know defence SMEs often face challenges. We want to work across the Go…”

“We have been clear that there is no contradiction between ESG considerations and investment in defence, and that investing in our defence industry is a way to protect our democracy and borders, and to work in solidarity with our European neighbours. I will write to the hon. Gentleman about the specifics, but I know tha…”

“It is a great pleasure to serve under your chairmanship, Sir Edward. I congratulate my hon. Friend the Member for York Outer (Mr Charters) on securing this debate. I also thank the Chair of the Defence Committee, my hon. Friend the Member for Slough (Mr Dhesi), and the hon. Member for Strangford (Jim Shannon) for their…”

“It is always a pleasure to serve under your chairmanship, Mrs Cummins. I thank the hon. Members for Wyre Forest (Mark Garnier) and for Wokingham (Clive Jones) for their amendments and their constructive engagement throughout the Bill’s passage. The Bill will ensure that the Bank of England remains equipped with the nec…”

“I am afraid I am being urged to wrap up. I remind Members that the Bill is fundamentally about protecting the taxpayer—”

“We have not come to that yet; my hon. Friend can intervene on Third Reading. [Laughter.] Taking what I was saying into account, although the Government appreciate the point raised by the sector and by the shadow Minister, we do not believe it is necessary to hardwire in legislation a requirement to update the code of p…”

“I beg to move, That the Bill be now read the Third time. We can hopefully do Third Reading in a more relaxed fashion. As we have discussed through the Bill’s passage, the Bank Resolution (Recapitalisation) Bill will strengthen the UK’s bank resolution regime by providing the Bank of England with a more flexible toolkit…”

“Perhaps my hon. Friend and I could have a discussion outside the Chamber so that I can better understand his question. The mechanism in the Bill is about what happens when the resolution regime is triggered. Four different conditions have to be met for that to happen. The Bill seeks to continue the work that the Opposi…”