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Tag: Speeches

  • Jo Stevens – 2021 Comments on Football Social Media Blackout

    Jo Stevens – 2021 Comments on Football Social Media Blackout

    The comments made by Jo Stevens, the Shadow Digital, Culture, Media and Sport Secretary, on 24 April 2021.

    The threats and racism faced by footballers on social media are appalling, but sadly, no-one is surprised by this anymore.

    The only way to make social media companies take responsibility for what appears on their platforms is criminal sanctions against senior executives. And yet, despite all their tough talk, the Conservatives have dropped them from the proposed online safety law.

    Ministers can hold as many zoom meetings with footballers as they like, but actions speak louder than words. They have caved in to big tech lobbyists by watering down proposed legislation, as well as delaying it for more than two years. That’s how concerned they really are.

  • Rachel Reeves – 2021 Comments on Allocation of Government Contracts

    Rachel Reeves – 2021 Comments on Allocation of Government Contracts

    The comments made by Rachel Reeves, the Shadow Chancellor of the Duchy of Lancaster, on 22 April 2021.

    These revelations are explosive. It is shocking that basic checks were missed and companies without proper certification were allowed to jump the queue.

    Time and time again Labour has called on the Conservatives to publish details of companies on the VIP fast lane, and time and time again they have refused, and insisted on covering them up.

    This is yet more evidence of the Tory sleaze that is happening on Boris Johnson’s watch.

    If the Conservatives don’t publish all of the details now, it is further proof that they think it is one rule for them and another for everyone else.

  • Anna McMorrin – 2021 Comments on Prime Minister and US Climate Leaders’ Summit

    Anna McMorrin – 2021 Comments on Prime Minister and US Climate Leaders’ Summit

    The comments made by Anna McMorrin, the Shadow Minister for International Development, on 22 April 2021.

    The Prime Minister’s statement highlights the gulf between his government’s climate rhetoric and delivery.

    Stripping away vital aid funding as well as continued funding of fossil fuel projects overseas despite his government’s new policy shows talk is cheap. This Government’s hypocrisy must end.

    This Earth Day world leaders must listen and learn from climate vulnerable communities everywhere and ensure they are at the heart of decision-making and mobilise the finance to advance progress. Taking real climate action will mean greater health, prosperity and security for all home and aboard, from East Africa to East Yorkshire.

  • Anneliese Dodds – 2021 Comments on David Cameron and Greensill Emails

    Anneliese Dodds – 2021 Comments on David Cameron and Greensill Emails

    The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 22 April 2021.

    These emails confirm that Greensill wasn’t shy about the financial trouble it was in last year. They were sending the begging bowl round to the Bank for England for up to £20 billion in support in March, and yet the Government granted the failed lending firm access to hundreds of millions of pounds of taxpayer-backed loans in June.

    This is about keeping public money safe. We need to understand why Greensill Capital was given so much time and access to the Treasury, and why so much public money was put at risk.

    The Chancellor must now come clean about his role in the return of Conservative sleaze by urgently publishing details of every call, text and secret meeting he had with David Cameron’s Greensill Capital.

  • Anneliese Dodds – 2021 Comments on David Cameron Emails

    Anneliese Dodds – 2021 Comments on David Cameron Emails

    The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 22 April 2021.

    These emails confirm Treasury officials knew Greensill was in financial trouble as early as the 21 March last year. They also knew Greensill applied to the CLBILS Covid loan scheme on 24 April.

    We need to follow the money. Greensill was carrying the begging bowl from the Bank of England to the Treasury and back. It was desperate for access to taxpayer money, and the Government granted that access by accrediting it to the CLBILS scheme in June.

    Hundreds of millions of pounds of taxpayer cash were put at risk by that decision. We need to understand why the Chancellor and the Treasury did nothing when they were aware Greensill was deep in the red three months earlier.

    The Chancellor can’t keep ducking this. He must come out of hiding and explain his role in the return of Conservative sleaze.

  • Kate Green – 2021 Comments on Early Years

    Kate Green – 2021 Comments on Early Years

    The comments made by Kate Green, the Shadow Secretary of State for Education, on 22 April 2021.

    The Conservatives have treated children as an afterthought throughout this pandemic, with had no plan to protect early years providers nor support the families who rely on their vital services.

    Labour wants to see children at the heart of our national recovery.

    Through engagement with parents, providers, children and experts our Bright Future Taskforce will develop a national strategy to ensure every child can recover the learning and social development lost during the pandemic and has the chance to reach their full potential.

  • Tulip Siddiq – 2021 Comments on Early Years

    Tulip Siddiq – 2021 Comments on Early Years

    The comments made by Tulip Siddiq, the Shadow Minister for Children and Early Years, on 22 April 2021.

    The early years are critical for a child’s development and childcare is a fundamental building block of our economy but, over the last decade, early years services have been neglected.

    This Conservative Government has failed to listen to families who have been unable to get the childcare, early education and wellbeing support they need.

    As we emerge from the pandemic, we need to have a big conversation with the public about how we can rebuild this essential infrastructure.

  • Jo Stevens – 2021 Comments on Boris Johnson Meeting with Ed Woodward

    Jo Stevens – 2021 Comments on Boris Johnson Meeting with Ed Woodward

    The comments made by Jo Stevens, the Shadow Digital, Culture, Media and Sport Secretary, on 22 April 2021.

    The Prime Minister and his ministers made very public and vocal condemnation of the European Super League. The public would therefore expect the same message to have been delivered in any private meetings.

    Downing Street should release the minutes in order to clear up any confusion and avoid accusations of hypocrisy.

  • Ed Miliband – 2021 Comments on Post Office Scandal

    Ed Miliband – 2021 Comments on Post Office Scandal

    The comments made by Ed Miliband, the Shadow Business Secretary, on 23 April 2021.

    This is a huge victory in the fight for justice for the subpostmasters affected by this appalling decades-long scandal, in the face of inaction from government.

    But there are so many other names to clear. For some who lost their homes and their reputations, it’s too late.

    We’re pushing for a proper Inquiry with teeth to get the bottom of how this scandal can have happened – and who was responsible – to deliver the justice those impacted need and deserve. The Government’s inquiry risks being a whitewash.

  • Rishi Sunak – 2021 Statement on the UK Listings Review

    Rishi Sunak – 2021 Statement on the UK Listings Review

    The statement made by Rishi Sunak, the Chancellor of the Exchequer, in the House of Commons on 19 April 2021.

    In November last year, I asked Lord Hill of Oareford CBE to carry out an independent review of the UK’s listing arrangements. Strong public markets are a vital component of the UK economy and the Government are committed to ensuring that the UK’s markets are as competitive as possible, and to supporting the many different companies that use markets to raise capital, including technology firms as mentioned in Lord Hill’s report.

    At Budget last month, Lord Hill published his UK listing review1. It made 14 recommendations. Today, I am pleased to set out how the Government intend to take forward each of the recommendations made.

    Seven of the recommendations are directed towards the Financial Conduct Authority (FCA), our independent regulator. As the FCA set out in its public response on 3 March, it welcomes the report and intends to consider all the relevant recommendations carefully, including on free float, dual class share structures, and special purpose acquisition companies (SPACs). It has committed to acting quickly where appropriate, including by publishing a consultation by the summer, and a specific consultation on SPACs before that.

    Six key recommendations are directed towards HM Treasury (HMT), and I outline how we will be taking forward each recommendation, in turn, below.

    First, I agree to present an annual “State of the City” report to Parliament (recommendation 1). I am grateful for the suggestions provided as to what this report could cover, and I believe this would benefit the UK’s capital markets. I will present the first of these reports in 2022.

    Lord Hill recommended that HMT considers an additional “growth” or “competitiveness” objective for the FCA, as part of the future regulatory framework (FRF) review (recommendation 2). The first consultation on the FRF review closed on 19 February. This review seeks to ensure the UK’s regulatory framework is fit for our future outside the EU and the first consultation welcomed stakeholder views on the current set of statutory objectives. It also sought views on the future overall accountability framework for the FCA (and PRA). The Government are currently considering the 120 stakeholder responses received in relation to this consultation and will use these to inform a second consultation later this year. I will carefully consider this recommendation as part of that process.

    Three of the recommendations, on reviewing the UK’s prospectus regime (recommendation 7), considering whether prospectuses drawn up under other jurisdictions’ rules can be used to facilitate secondary listings in the UK (recommendation 8) and facilitating the provision of forward-looking information by issuers in prospectuses (recommendation 9), all deal with the UK’s prospectus regime. Again, I strongly welcome this, and agree we need to consider reforms to ensure these documents are fit for purpose. I can confirm that the Government will bring forward a public consultation on the UK’s prospectus regime later this year.

    Lord Hill also raised the issue of improving the efficiency of further capital raising by listed companies (recommendation 13). This is a highly technical area, and I agree that bringing together expertise specifically on this issue will be helpful to consider what more can be done to improve capital raising processes and I am happy to help convene such a group. My officials will be considering what form this will take over the coming weeks.

    One of the recommendations, concerning how technology can be used to improve retail investor involvement in corporate actions and their undertaking of an appropriate stewardship role, is directed towards the Department for Business, Energy and Industrial Strategy (BEIS). As such, this recommendation will be taken forward by BEIS as part of its wider consideration of the findings from the Law Commission’s recent scoping study on intermediated securities. BEIS expects to announce a response to the study later this year.

    Finally, Lord Hill concluded by drawing the Government’s attention to other issues raised with the review illustrating how the wider financial ecosystem may impact UK listings. I would like to thank Lord Hill for bringing these issues to my attention.

    I would like to conclude by again thanking Lord Hill for his work, and I look forward to taking forward his recommendations.