On 8th September 2016 the Bishop of St Albans, Rt Revd Alan Smith, led a debate in the House of Lords: “To ask Her Majesty’s Government what is their assessment of progress towards implementing the recommendations contained within the report of the Parliamentary Commission on Banking Standards, Changing banking for good.”
The Bishop’s opening speech is below, followed by the response of the Minister. Other members spoke in the debate, including the Archbishop of Canterbury (speech here) who had served on the Parliamentary Commission on Banking Standards.
The Lord Bishop of St Albans: My Lords, I start this debate by saying how pleased I am to see the Minister responding today in his last time in his present role, although I look forward to working with him when he takes up his new duties at DCMS.
We are now three years on from the publication of the parliamentary commission’s report Changing Banking for Good. Thanks to the decisions made by this and previous Governments, our banking system is taking tentative but important steps along the road to recovery. We must not forget, however, the blunt summary in the report which laid out the scale of the problems with banks over the previous decade:
“Banks in the UK have failed in many respects. They have failed taxpayers, who had to bail out a number of banks including some major institutions, with a cash outlay peaking at £133 billion, equivalent to more than £2,000 for every person in the UK. They have failed many retail customers, with widespread product mis-selling. They have failed their own shareholders, by delivering poor long-term returns and destroying shareholder value. They have failed in their basic function to finance economic growth, with businesses unable to obtain the loans that they need at an acceptable price”.
Continue reading “Bishop of St Albans leads debate on banking reform”
On 8th September 2016, the Bishop of St Albans, the Rt Revd Dr Alan Smith, asked Her Majesty’s Government “how they intend to address the gap between the remuneration of senior executives and their employees”. Baroness Neville-Rolfe responded for the Government. Her comments can be seen below, along with the follow up questions from other Members.
On 5th September 2016, the Archbishop of Canterbury, the Rt Hon. and Rt Rev. Justin Welby, paid tribute to the outgoing Lord Speaker and Deputy Lord Speaker, Baroness D’Souza and Lord Laming. Archbishop Justin also welcomed the new Lord Speaker, Lord Fowler, and the new Senior Deputy Lord Speaker, Lord McFall, to their roles.
On 5th September 2016 the Second Church Estates Commissioner, Rt Hon Caroline Spelman MP, answered a written question from Graham Allen MP about the Church of England’s response to a report on abuse at Kendall House, Gravesend.
On 5th September 2016 the Second Church Estates Commissioner, Rt Hon Caroline Spelman MP, answered a written question from Mark Hendrick MP about churches in the Diocese of Blackburn and the English Churches and Cathedrals Sustainability Review.
You must be logged in to post a comment.