Stuart Andrew
MP for Daventry · Conservative · United Kingdom
“The Minister will know that Onley Park is still owned by the Ministry of Justice. Although I welcome the funding, these residents have been waiting years, and frankly they are really worried—we have still not got a start date or clarity around backdated bills, and the situation is affecting house sales now.”
“My hon. Friend is making an important point about HSSIB. We have heard time and again that frontline staff value the safety that HSSIB provides to them and the confidence they have in reporting.”
“Despite what we have heard from the Minister, colleagues have been talking about the issue of developments near railway stations. That has a practical consequence for the rural village of Long Buckby in my constituency. Land that is currently in open countryside, beyond the village boundary, will now be designated as a priority area.”
“In a volatile world, I think we can all agree that energy security is important, but so too is food security. I was interested in the answer the Prime Minister gave to my hon.”
“Well, that was clearly no answer to my question, so let me give it: the Government’s own figures show that the number is higher. Additionally, in response to concerns that I have raised, the Office for Statistics Regulation confirmed that the published figures do not clearly distinguish between patients who are treated and those who are r…”
“Women’s symptoms may simply be dismissed or attributed to stress, hormones or ageing, and women have been consistently under-represented when it comes to cardiovascular research.”
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“Member for Aberdeen North: it is nice to see these different groups coming together. We are determined to do what we can to see more connected societies, and intergenerational approaches will be an important part of that work. I hope that we can come to realise and value the fact that intergenerational relationships build happier, healthier and more resilient communities.”
“That sounds really exciting. The hon. Lady is absolutely right: I am very proud of the fact that we are investing hundreds of millions of pounds in new sports facilities, but it is about making sure that it is not just the same people using them all the time. How do we get other generations using them? How do we get more women using them? The rise in women’s football has been amazing for us all to see, but the number of facilities that are available, or even appropriate, for women has not been good enough, and that is why we introduced the Lionesses fund. I will certainly look into the project that the hon. Lady mentioned. This debate has been an important conversation, and I thank the hon. Member for Motherwell and Wishaw and all Members for their contributions on an important and enlightening subject. I agree with the hon.”
“Member for Rhondda mentioned philanthropy, and he is absolutely right; there is a lot that we can learn, and I am pleased to say that, as a Department, this is an area of focus. We see pockets of it where it goes well—in London and the south-east—but I want to see that much more broadly across the country, and we will continue to work in that area. This debate has demonstrated that we all share the same ambition; we want to celebrate volunteers and what they do. I am grateful to hon. Members for highlighting those things, especially in the run-up to the 40th anniversary of Volunteers Week, so that we can celebrate and recognise the contribution of the millions of people who dedicate their time and support their communities.”
“That partnership is made up of DCMS, NCVO, the National Association for Voluntary and Community Action, Volunteering Matters, the Association of Volunteer Managers, and Sport England. I am pleased to say that we have been able to provide £600,000 to fund that work, and I look forward to seeing how that develops. Others mentioned social prescribing. As part of our national sport and physical activity strategy, we are working closely with colleagues in the Department of Health and Social Care because we see social prescribing as a way of getting people more active. Volunteering will, by its very nature, be a big part of that, so we will continue to work in that area. Of course, the Department leads cross-Government volunteering policy, and will continue to do so. The hon.”
“Under that scheme, organisations are able to reimburse volunteers for using their own vehicle while volunteering. They are able to agree what reasonable out-of-pocket expenses look like. However, costs of using their own vehicle are often worked out by using His Majesty’s Revenue and Customs’ mileage allowance payment rules, which Treasury is responsible for setting, and apply more broadly than just to volunteers. However, I was pleased that the Government announced at the spring Budget that we will keep the 5p fuel duty cut, which I hope will help in this area. More broadly, looking to the future and thinking about the vision for volunteering, as I mentioned earlier, my Department is working in partnership on this. It is a strategic voluntary sector initiative to lead ongoing support and development of volunteering in England.”
“I want to respond to some of the points that were made and particularly the request for paid leave for volunteers and trustees. I do understand where people are coming from, but as I think others have mentioned, there is a danger that that could become a problem, particularly for small and medium-sized businesses. However, we do want to see employers develop their own corporate responsibility programmes and to encourage businesses, the public sector and charities to consider the role that employer-supported volunteering can play as part of their impact on society. We do try to encourage that and show the best examples of how that actually benefits the business, often. Others asked for reviewing and uplifting of the approved mileage allowance payment.”
“I was thrilled to meet just yesterday some of the partner organisations, alongside other agencies that support civil society. We were specifically talking about the crucial role that these support organisations play in providing the infrastructure for volunteering. We are looking forward to working collectively to see what we can do to help them in what are sometimes very challenging times. The British public’s enthusiasm for volunteering was, as I said at the start of my comments, seen very clearly at the coronation of His Majesty the King, and it was exactly that that brought about the Big Help Out. I am grateful to all those organisations for wanting to carry that programme on so that we can bring about a sustainable volunteer network.”
“That is happening in 27 of the most disadvantaged areas. I am thrilled that we are able to support those charities and communities in that way, in the hope that that will help us to build the infrastructure we need and create those opportunities to volunteer. One example is the Vision for Volunteering. That is a sector-led initiative to develop volunteering in England over the next 10 years. The Government have supported the vision from its outset, sitting on its advisory board and lending our support, and funding, to take this work forward, because it recognises that the nature of volunteering is shifting and we want to help communities to adapt to that. For example, one theme of the vision is to increase equity and inclusion, ensuring that volunteering is accessible and welcoming to everyone, everywhere.”
“I have already mentioned the importance of rewarding and recognising volunteers through the Points of Light awards and the honours system. We know that the desire to make a difference is the most important motivation for people getting involved in their communities. Beyond our work to recognise volunteers, we are providing funding and working with an extensive range of partners to ensure that there are clear entry points for volunteering. Two years ago, as my hon. Friend the Member for Stoke-on-Trent Central mentioned, the Know Your Neighbourhood Fund was launched, and that provides £30 million, including £10 million from the National Lottery Community Fund to directly support charities and community organisations to widen participation in volunteering and, crucially, tackling loneliness.”
“I am glad to see that we have representatives of the Scouts in the Public Gallery, because in my interactions with them, I have been inspired by their dedication and I want to see more of those opportunities for young people. We also need to recognise and celebrate the huge number of people who support others in their community of their own volition and who might not think of themselves as volunteers. As has been said, we saw that during the pandemic, when people wanted to ensure that their neighbours were safe and got the food they needed. But a lot of that was co-ordinated through local organisations and charities, and I am grateful to them. In my constituency, I think of AVSED—Aireborough Voluntary Services to the Elderly—which did so much during that time.”
“That is why we are also doing things such as the national youth guarantee, which is providing to every young person, by 2025, something to do after school, an opportunity to have an experience away from home and, crucially, an opportunity to volunteer, in the hope that that will then be something that they continue to do throughout their life. A number of people mentioned the Scouts and the Guides, and I am pleased that, as part of that initiative, we have given £16 million to uniformed organisations. I am also pleased to say that new groups are being set up. We have now provided another 4,500 new places, but I recognise that there is a big waiting list.”
“As others have said, the community life survey found that 25 million individuals volunteered at least once in the preceding years. That is great, and I am very proud of those figures, but it is true that they have been in gentle decline over the last decade. A lot of research is being carried out on why that may be and what we can do to try to reverse that trend. One such piece of research is the “Time Well Spent” report that others have mentioned, which was produced by the NCVO and funded by my Department. It is well worth looking at the findings of that research in depth. We can see from that and other studies that the nature of volunteering is shifting. Broadly speaking, people are looking for opportunities that are far more flexible, easier to start, and more connected to their communities.”
“That is an essential part of telling the story of individual volunteers from around the country and the remarkable efforts they make. I encourage hon. Members to look at DCMS’s social media, where they will see some really inspiring stories. It is not enough just to celebrate volunteering, and we certainly cannot take volunteers for granted. My Department works to strengthen our knowledge about volunteering, including what motivates people to volunteer, and, as others have mentioned, the barriers that prevent them doing so. We know that recruitment and retention is an increasing problem, particularly for small local charities. There continue to be barriers to more people becoming involved in volunteering, ranging from a lack of awareness of the volunteering opportunities that exist to simply not having enough time.”
“This year’s Volunteers’ Week will culminate with the second Big Help Out weekend, which gives people the opportunity to take part in volunteering in their local area, many of them for the first time. It is a fantastic way of introducing people to the benefits of volunteering. I am glad that we have been able to provide funding to enable that. I was delighted to be at the launch of the Big Help Out campaign earlier this year, and look forward to seeing even more people take part in it over the course of the weekend. I hope many hon. Members here will do so too. However, recognising volunteers should not be limited to once a year. That is why my Department works closely with No. 10 to co-ordinate the Points of Light award, through which the Prime Minister recognises outstanding individuals who work in their community inspiring others, too.”
“That is precisely why I and the Government are committed to growing volunteering, trying to give people more opportunities to volunteer and celebrating the millions of people who already make a difference by giving up their time. I want to recognise the power of volunteering. As others have said, it is a cornerstone of our society, and I am grateful for the selflessness we see. However, quality volunteering also requires effort and support, so I also pay tribute to the people who make volunteering happen and work tirelessly with volunteers day in and day out. As others have mentioned, this year marks the landmark 40th anniversary of Volunteers’ Week. I know all Members will join me in praising the millions of volunteers up and down the country for the difference they make.”
“We are enabling charities to raise the money they need to continue their work. I thank so many of the volunteers: Clare, Jim, Caroline, Steve, Lee and Vicky. Caroline runs our prosecco stall, and I do wonder how much of it she sneaks every now and again. I also join the hon. Member for Rhondda in thanking the political volunteers out there today. It is a good point well made. It is not easy for them at times, and I am really grateful. I also want to mention people who support work in the health sector. Ms Nokes, I understand that your dad is a volunteer car driver enabling elderly people to get to their medical appointments, even though he is 81 years of age, which is fantastic.”
“I also thought about the civil society sector. Having worked in the hospice movement, I know that there is no way that we could have raised the money we needed were it not for people giving of their time. Then there are ceremonials. The coronation was a classic example of thousands of volunteers giving their time and ensuring that that spectacular event ran incredibly smoothly. I, too, have to mention constituency organisations, although I am terrified of leaving any of them out. There are groups such as the Live at Home schemes that look after people of an older generation; Britain in Bloom groups and litter groups that look after our environment; and of course the sporting groups, which I have mentioned. I am also proud to be part of the Guiseley Lights organisation, which puts on huge street parties every year.”
“It is a pleasure, as ever, to serve under your chairmanship, Ms Nokes. I, too, pay tribute to my hon. Friend the Member for Stoke-on-Trent Central (Jo Gideon) for securing this important debate. During the debate, I was reflecting on my portfolio in DCMS, and thinking that many of the things for which I have responsibility would not function were it not for volunteers up and down the country giving of their time. The hon. Member for Rhondda (Sir Chris Bryant) was absolutely right to mention sport; the biggest cohort of volunteers is in the sports world, and all those groups up and down the country keep our nation active. So much of the youth sector, for which I have responsibility, is run by volunteers, particularly when it comes to supporting disadvantaged young people who need extra support and mentorship.”
“Dedicated colleagues have fought for gender and racial equality within the Houses of Parliament themselves, from Maureen Colquhoun in the 1970s, who was the first lesbian MP and who other hon. Members have mentioned, to the hon. Member for Wallasey (Dame Angela Eagle), who has been a steadfast campaigner in this place for LGBT rights for many years—I do not want to sound rude.”
“Although I am obviously not a lesbian, the journey of LGBT rights is mirrored in my lifetime. As I have got older, our rights have improved significantly. Walking that journey means a great deal to me personally. I want that journey to continue for future generations. It is important that we have this debate on Lesbian Visibility Week so that the next generation can see that if they are a lesbian, there is absolutely nothing wrong with that and they should enjoy their life happily and freely. Lesbian Visibility Week has been widely celebrated since its inception and has provided an essential platform to address both the achievements and issues faced by lesbians.”
“I am glad that the hon. Member for Brent Central (Dawn Butler) pointed out that she is not a lesbian; obviously, I am not either. I feel somewhat outnumbered but I am proud to respond to this important debate. I extend my thanks to the hon. Member for Jarrow (Kate Osborne) for securing such an important debate, for highlighting the importance of Lesbian Visibility Week and for paying tribute to Linda Riley, who instigated it in the first place. I too pay tribute to Linda Riley for her work, over many years. Inspirational people like her have made my life, as a gay man, a lot easier, and I pay tribute to them for standing up at times when it was really not easy. I am extremely proud to be one of over 60 openly LGBT members of Parliament, and I am grateful to serve alongside such a diverse range of colleagues across the House.”
“I am proud to serve in a Government who introduced equal marriage, proud to serve in a Government who have brought about an HIV action plan to eradicate new infections by 2030, proud to serve in a Government who allow gay men to donate blood, and proud to serve in a Government who instigated the LGBT veterans independent review, so that there can be more support for those who were treated so disgracefully. Today, though, I will end on a positive note by again thanking the hon. Member for Jarrow for securing this debate today and bringing awareness to the extremely important topic of our lesbian citizens during this important Lesbian Visibility Week. As outlined, the Government are committed to making sure that the UK is a safe place where lesbians are given the opportunities to thrive and live a safe and happy life.”
“It is right that we join our LGBT alliance friends around the world to encourage progress in this area so that people do not have to live in fear. I will address the issue of conversion practices that the hon. Member for West Lancashire (Ashley Dalton) mentioned. No one in this country should be harmed or harassed for who they are, and attempts at so-called conversion practices are abhorrent. We are clear on our stance that they are harmful and that they simply do not work. That is why we are committed to publishing the draft Bill. I know that it has taken time, but it has been a very challenging issue to get right. I am committed to our doing it. I gently say that I was slightly disappointed by the shadow Minister’s conclusions to her speech, trying to make out that this Government have not worked hard on LGBT issues.”
“Lesbians have as much right as anyone to stand up for recognition and for their rights. It is important that we all enter this challenging debate in a calm and measured way. A toxic debate serves no one. We can have a grown-up debate in which we disagree and agree, but we should do so with dignity and with respect. As my hon. Friend the Member for South Ribble (Katherine Fletcher) said, this should all be about the people whom we love, so let love be at the centre of that debate. I was glad that colleagues raised international issues. Unacceptable things are happening around the world—in places such as Uganda and Ghana. I pay tribute to the work that the all-party parliamentary group on global lesbian, gay, bisexual, and transgender rights is doing to focus attention on this area.”
“Ahead of that debate, I remember Members receiving emails and letters from people almost suggesting that if we extended marriage to lesbian and gay couples, the sky would fall in the next day. Well, we did it, and the sky is still up there. What I noticed though was that, very quickly, everybody was waiting for their invitation to an equal marriage reception. Turning now to the issue of hate crime, we need to ensure that we all call hate crime out, and I am glad that hon. Members have done so. I am in regular discussions with my colleagues in the Home Office and will continue to raise the points that hon. Members have mentioned today. The hon. and learned Member for Edinburgh South West (Joanna Cherry) talked about the voices of lesbians being silenced. I simply cannot understand why anybody would want to do that.”
“I accept that this work is taking longer than expected, which I realise is disappointing to those affected, but please be assured that it remains a priority for delivery. The National Institute for Health and Care Excellence is currently reviewing its fertility guidelines and will consider whether the current recommendations for access to NHS-funded treatments are still appropriate, and we expect that review to be published next year. With regard to the statutory instrument, I am assured that colleagues in the DHSC are working on it, so that it can be presented to the House, but I will update the hon. Member for Jarrow when I have had further discussions with DHSC Ministers. Let me come on to some of the other points that were raised by Members today. Mention was made of the equal marriage debates that we had in this Chamber.”
“There were a number of changes and future ambitions within the women’s health strategy for England to improve the variation in access to NHS-funded fertility services. Colleagues in the Department of Health and Social Care have begun work to improve information provision on fertility and fertility treatments, including on the NHS website, and have launched a tool that provides greater transparency on local provision of IVF. Our initial priority is to remove the requirement for female same-sex couples to self-fund six rounds of artificial insemination before being able to access NHS-funded treatments. My colleagues in DHSC are working with NHS England to take that forward, along with other commitments that are deliverable through the integrated care boards.”
“The equality hub is working with a range of businesses and professional membership bodies to identify how employers can best support women’s reproductive health in the workplace, for example, as part of the delivery of the workplace elements in the women’s health strategy. We are holding roundtables and working with employers from a range of sectors to develop case studies and tips on good practice, to improve the support available for women’s reproductive health. This will help inform the development of resources to promote and support employer good practice, highlighting those organisations that are leading the way on these issues. A number of important points were made about IVF.”
“Other challenges may include difficulty in access to IVF, mental health challenges, domestic abuse or hate crime. I was distressed to hear the experiences of hon. Members who have faced hate crime. Having been queer- bashed myself, I know how terrifying it is and the lasting effect such an incident has, not just when it happens but years later, with flashbacks. I reassure all Members of the House that I and the other equality hub Ministers regularly engage with our counterparts across Government, as well as relevant civil society groups, on a range of matters that relate to this important area of work.”
“As others have righted raised, lesbians have contributed importantly to the way of life in this country: in our armed forces, serving to keep our country safe; in medicine, helping us to make medical advances; in education; and in all walks of life. Their contributions have been extraordinary. Many Members will have heard me say on numerous occasions that I am committed to improving the outcomes for lesbians, and all LGBT people. We especially recognise that lesbians often face specific challenges. The hon. Member for Jarrow talked about how she often felt lonely. As Minister for loneliness, I was really keen that we had a specific campaign and focus this year on loneliness experienced by members of the LGBT community, as they often find that journey incredibly challenging, particularly if they are in rural areas.”
“There are also inspirational figures outside Parliament, such as Dame Kelly Holmes, mentioned by the hon. Members for Jarrow and for Brent Central, who is raising the profile of those who find their true selves later in life. I was particularly touched by the contribution made by the hon. Member for Llanelli (Dame Nia Griffith). I know that at times it can be incredibly emotional for her to tell her story, but I am honoured every time I am in the room to hear someone being so open about their experiences. It is inspirational. The UK is undeniably richer for the contributions of these women, and more LGBT role models continue to appear every day.”
“It has also written to the individuals responsible for KiX for further information on the product and their intentions, and to highlight the consequences of launching a product that meets the definition of gambling in Great Britain without an appropriate licence.”
“The tokens pay out a yield based on the performance of footballers. It appears that the product is in a test phase and is not currently live, nor does it appear possible to deposit currency. The Gambling Commission is taking proactive steps in relation to KiX. It has written to the hon. Members for Blaydon, for Swansea East (Carolyn Harris) and for Brentford and Isleworth (Ruth Cadbury) to outline its approach, and it has written to my Department. The commission is currently reviewing a number of elements of the KiX product. That includes a review by its compliance and legal teams to consider whether, if launched, it would meet the definition of gambling under the Gambling Act 2005.”
“I mentioned David Hammel, and I admire the work of campaign groups such as the Football Index action group and the way that it has conducted itself. I met him last year and we have had follow-up correspondence. I am taking seriously the extra evidence that Mr Hammel has submitted in relation to the Sheehan review, and I am considering, as the hon. Member for Blaydon mentioned, whether it would be appropriate and feasible for Mr Hammel’s evidence to be scrutinised by someone external to the Department. A lot of Members mentioned the new product, KiX, which has described itself as a football cryptocurrency trading project and bears similarities to Football Index. It involves trading footballers in the form of so-called “Digital Athlete Tokens”, which are purchased with cryptocurrency.”
“An updated memorandum of understanding addressing all the review’s recommendations was agreed between the commission and the FCA in November 2022. The agreement has established a process and timeline for co-operation between the two authorities and a process for escalation, and created a relationship owner and primary contact in each authority to oversee the operation of the memorandum. It also requires a quarterly minuted meeting between the two authorities to ensure that the memorandum operates as it should. The most recent meeting took place yesterday. There are also now ad hoc meetings between the chief executive officers of the two authorities, which provide an avenue for escalation of regulatory matters if required. I am grateful to the Gambling Commission and the FCA for their work to ensure that this important report is acted on.”
“We are not introducing one single Bill because we want to ensure that we get as many of the changes done as quickly as possible. We are making good progress. I have consistently committed to trying to get everything done by the summer. Some of these things will be ready for statutory instruments soon, but some are what the Gambling Commission will implement. By splitting it up, rather than having one big Bill that might take a long time to get through this place, we are proceeding at pace to bring about the reforms. The FCA has also implemented all the recommendations from the report. Importantly, it has taken steps to improve the speed and consistency of its decision making, including nominating an executive director to oversee the relationship with the Gambling Commission.”
“It has updated how it assesses risk so that novel products are properly considered. It now undertakes systematic reviews of novel products offered by existing licensees. It has also increased the resources available to ensure that licensees disclose notifiable changes to products. The commission has also changed its approach to licensing products where long-term bets might appear more like financial products. It has made it clear in its statement of principles that it will not normally grant a licence to products that use language usually associated with investments or financial products. Various colleagues raised issues around advertising, and the hon. Member for Worsley and Eccles South (Barbara Keeley) asked about the gambling White Paper.”
“However, it also made recommendations about how the memorandum could be strengthened. It recommended that the new memorandum should include an agreed mechanism for resolving disputes over regulatory responsibility; mechanisms for ensuring that disputes are identified, discussed and escalated where necessary; and provisions for the written recording of meeting outcomes. It is vital, as the title of the debate points out, that we learn lessons from the Football Index case to ensure that a similar situation does not take place again. I am pleased that all the recommendations of the report for the commission and the FCA have been implemented in full. The Gambling Commission has taken various actions to achieve that. It consulted on and updated its statement of principles for licensing and regulation in June 2022.”
“Finally, the report recommended that the commission consider whether operators should be required to demonstrate additional levels of liquidity in the case of longer-term tradeable bets like those offered by Football Index. Although Football Index was never regulated by the Financial Conduct Authority, Mr Sheehan’s report recommended that the FCA should also seek to achieve quicker and more consistent decision making on regulatory responsibility issues. The report concluded that the FCA could have been faster to come to decisions in the Football Index case and to communicate those to the Gambling Commission. The Gambling Commission and the FCA agreed a formal memorandum of understanding in June 2021. The Sheehan report described that as an appropriate and proactive step.”
“The report recommended that the Gambling Commission should enhance its scrutiny of novel products; such products are less likely to fit neatly into existing regulatory frameworks, and there is greater risk that they are poorly understood by customers, as colleagues have mentioned. It recommended closer examination of the language typically associated with investments and financial markets, which can obscure the fact that a product is a gambling rather than a financial product. It outlined the need for more prompt decision making, quicker internal escalation and greater scrutiny of any differences between described and actual features of products.”
“I want to focus on the action being taken following the independent review of the regulation of Football Index, led by Malcolm Sheehan KC. I thank him for that work. His report examined the regulatory circumstances around the granting of a licence to BetIndex, its subsequent suspension and the company’s ultimate financial failure. Importantly, it identified areas, as others have said, where the Gambling Commission could have been more effective in responding to the challenges posed by this novel product. It also highlighted where the FCA could have co-operated more effectively with the commission.”
“I also want to say thank you to David Hammel for his campaigning work on behalf of people who have lost money as a result of these events. I have met Mr Hammel and know that he has engaged administrators, regulators and politicians on behalf of those affected. Today’s debate has been valuable and I commend all those who have contributed for their thoughtful comments. It has been important for me personally to hear the perspective shared this afternoon on this important topic. I want to be clear that I and the Government recognise the serious consequences that the collapse of Football Index has had on consumers. As I said, I sympathise with all those affected. It is important that we ensure that a similar scenario cannot happen again. I will not repeat the background to these events, as that has been well covered by colleagues.”
“It is a pleasure to serve under your chairmanship, Mrs Murray. I thank the hon. Member for Blaydon (Liz Twist) for tabling this debate. I know she also secured a debate in 2022 on the impacts of the Football Index collapse. I would like to acknowledge the contribution she has made to ensuring that these events receive the attention that they deserve. She is an admirable representative of those in her constituency and others who have been affected. The Government appreciate, and I certainly do, the impact these events have had on them and many others. I personally offer my sympathies to all of those affected financially by the collapse of Football Index. I thank all hon. Members for their contributions today.”
“The hon. Gentleman interrupted me just before I was going to say that the commission and the FCA are already engaging to establish the details of the product and to agree the appropriate steps. There have been reports that two individuals previously involved in running Football Index are involved in KiX. Adam Cole was the co-founder of Football Index. He surrendered his personal management licence in September 2021 while under review, and the commission reached findings of fact regarding his involvement in Football Index. Those would be considered if he were to make a new application for a personal licence. The commission also wrote to Abdullah Suleyman, the former head of trading at Football Index, to confirm the nature of his involvement in KiX. Following the letter, he surrendered his personal management licence on Monday 22 April.”
“Member for Blaydon raised the issue of StocksFC. The Gambling Commission is engaged with StocksFC and is monitoring the company at this moment. I will write to the commission for further information on that product and ensure that everything is being done to monitor it.”
“I was going to come on to that point. I reassure colleagues that the commission will continue to take a very active role in the monitoring of this product, and the FCA is also looking into the KiX business and will take appropriate risk-based action if it identifies that any of its activities fall into the FCA’s remit. However, I will raise this issue with both organisations again to ensure that everything is being done, because, like everybody else here, I do not want this to happen again. I hope I can reassure the House that the commission has been monitoring the market for several years for potential products that attempt to replicate Football Index. It has intervened in several instances. Although it would not be appropriate for me to name those businesses, that demonstrates the commission’s proactive work in this area. The hon.”
“However, in order to get this right, I am more than happy to speak to colleagues in other Departments to ensure that no cracks still exist.”
“I understand the hon. Lady’s point, but it is important that these things are looked at properly, under the remit of the existing legislation. The Gambling Commission has done a lot of work in this space to try to deal with the grey area that the hon. Member for Inverclyde (Ronnie Cowan) mentioned. I want to come on to that point, because the cryptoasset side of things brings in another area of work. I assure Members here that I will speak to my Treasury colleagues to highlight this issue, and to ensure that we do not find ourselves in a position like this again and address each of these issues. I am confident that the relationship between the Gambling Commission and the FCA is much improved and that the regular meetings between the two organisations will ensure that there is not a slip again.”
“This debate has been invaluable for me to ensure that we consider all the issues that need addressing and speak to colleagues across Government so that we do not see this awful situation happen again.”
“I think it would be worth more than my life’s worth to commit Treasury colleagues to a policy, but I understand the hon. Lady’s point. I have seen that suggestion and I am sure that Treasury colleagues will have views on it. I will raise that with them and write to hon. Members following their response. I thank everyone who has contributed to the debate. I hope that I have been able to provide clarity about some of the lessons that have been learned from the collapse of Football Index and the action that has been taken by the Government, the Gambling Commission and the FCA as a result. I understand the real consequences that people have felt.”