Callum Anderson MP: speeches

Speeches

• 15 Sept 2026 · Topical Questions · Hansard source

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  Court backlogs in the south-east have trebled over the last decade, placing extreme pressure on our criminal justice system. A new justice quarter in Milton Keynes could provide extra capacity that would deliver faster access to justice for my constituents in the Buckingham and Bletchley constituency and a modern justice hub in one of the fastest-growing cities in the UK. Will my right hon. Friend grant me a meeting, alongside my Milton Keynes colleagues, to discuss how we can take that proposition forward?

• 15 Sept 2026 · Topical Questions · Hansard source

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  T1. If he will make a statement on his departmental responsibilities.

• 14 Sept 2026 · Curriculum and Assessment Review · Hansard source

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  An important feature of the curriculum and assessment review was the recognition of and the commitment to strengthening financial literacy as a vital life skill for young people. To ensure we can deliver on that ambition, participating in the OECD’s PISA financial literacy assessment will help us to both measure our progress and identify gaps in that progress. Can the Secretary of State set out what assessment she has made of the merits of UK participation in 2029, and will she meet me to discuss it?

• 7 Sept 2026 · Topical Questions · Hansard source

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  T3. The Government’s renewed commitment to devolution is welcome in Bletchley and Milton Keynes; we are eager to deepen our partnership with the neighbouring local authorities in Luton and Bedfordshire, with whom we share a strong labour market and a broader economic geography. In that vein, will the Minister meet me and parliamentary colleagues to discuss how we can create a combined authority, with a directly elected mayor, at the very heart of the Oxford-Cambridge growth corridor?

• 7 Sept 2026 · Economic Growth · Hansard source

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  The Chief Secretary to the Treasury is right that the UK has a vibrant ecosystem of innovative companies, but too many are looking to go overseas to realise their scale-up potential and become globally consequential companies, so I very much welcome the focus on using the state as a strategic partner to help them do that. That was exactly the message I heard from the chief executive officers and founders of companies whom I met in the summer. How will the Treasury work across Whitehall and the wider public sector to help drive that cultural mindshift?

• 3 Sept 2026 · Business of the House · Hansard source

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  Over the summer recess, I had the pleasure of visiting the Florence Nightingale Hospice Charity shop in Winslow, which celebrated 25 years in the town. In that time, hard-working volunteers and local people have helped raise over £1.5 million for the hospice. Will the Leader of the House join me in thanking and congratulating local people on this achievement, and might he consider making Government time for a general debate on how we can deliver a secure future for our hospice sector, especially as hospices provide such compassionate care at the most difficult times?

• 3 Sept 2026 · Topical Questions · Hansard source

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  T3. Nearly 60 years ago, a Labour Government designated Milton Keynes a new town. Today, we are one of the fastest growing cities in the United Kingdom. Millions are also drawn to attractions such as Bletchley Park, the MK Gallery and our international festival. I cannot think of a better candidate to be the UK city of culture. Does the Minister agree with me that culture and economic growth go hand in hand? Will she meet me and my Milton Keynes colleagues to discuss the merits of our bid?

• 1 Sept 2026 · Topical Questions · Hansard source

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  T2. I welcome the Foreign Secretary’s decision to show personal leadership in acting as the UK Governor to the World Bank, given the wildfires that we have seen in Europe across the summer and the flooding in Nepal. Will he tell us how he intends to use the UK’s influence to ensure that adaptation and resilience finance is accessible much more quickly to those countries that need it most?

• 1 Sept 2026 · UK Financial Services · Hansard source

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  I beg to move, That this House has considered the future of UK financial services. It is a pleasure to serve under your chairmanship, Mr Twigg. Before turning to the topic of this debate, I congratulate the Economic Secretary to the Treasury, my right hon. and learned Friend the Member for Northampton North (Lucy Rigby), on her reappointment. In her first spell in the position, she was a formidable advocate for UK financial and professional services, so we are all very fortunate that we have her back for a second act. I wish her well for the time ahead. Today, I want to make a positive case for the future of the UK’s financial services sector. I will say why it should lie at the very heart of this Government’s strategy for backing Britain’s wealth creators, standing behind the entrepreneur with a bright idea and ensuring that we channel capital toward the innovators and builders who will drive growth in every part of this country, while also ensuring that the sector provides people, wherever they live and whatever their circumstances, with the tools to participate fully in a modern economy and a modern society through a bank account that works, savings and investments that build real financial security, and insurance that protects families, homes and businesses when life throws its inevitable curveballs at them. With financial and professional services employing around one in every 13 workers across the UK, two thirds of them outside London, they are no longer a niche interest in the UK or a City of London story alone. They are a genuine national endeavour. When I meet in Parliament the people I represent from Buckingham and Bletchley—from the owners of small businesses to the families who I also meet on the doorstep and the staff at Allica Bank or Santander UK, both of which have their headquarters in Milton Keynes while serving customers the length and breadth of Britain—I see the same thing: a national industry built for all of us. In the time available, I will set out five challenges and opportunities facing the sector in the years ahead. First, there is the need to go even further in mobilising a greater share of domestic capital toward domestic assets, in particular high-growth businesses and especially those aligned with the eight sectors set out in the industrial strategy and infrastructure development. I welcome the Mansion House speech in July by the former Chancellor, my right hon. Friend the Member for Leeds West and Pudsey (Rachel Reeves), and the progress that this Government have made against the financial services growth and competitiveness strategy one year after its publication, building on the progress made by the previous Government. We have seen that £28 billion of equity capital has been raised in London since the start of last year. The Pension Schemes Act 2026 was also passed in the last parliamentary Session, which is expected to deliver an additional £29,000 in pension savings over an average career. Eight firms have now been authorised to provide targeted support to savers, benefiting around 18 million consumers—our constituents—over the coming decade. All of that is welcome progress in turning the overly cautious British saver into the responsible investor, but I believe that we can—indeed, must—go even further in unlocking our largest pools of pension, insurance and retail capital. When we were debating the Pension Schemes Act earlier this year, the case against mandating UK investment rested on two grounds: first, the principle that Government should not tell institutions or individuals where and how to invest; and, secondly, that if UK investments were good enough, funds would already be backing them. However, what I think that argument missed is the trend towards passive global indexing that we have seen over the last few decades, which has mechanically reduced UK equity allocations to around 4%, regardless of the underlying fundamentals. I suspect that without further intervention, that trend will increase, leading to further declines in the years ahead. That risks creating a self-reinforcing cycle of declining investment in British companies by funds, regardless of where they are domiciled, depriving UK plc of domestic patient capital, and it would ultimately weaken our public equity markets and the strength of the London stock exchange. In the light of that, I encourage the Government to look again at how they can actively incentivise our largest pools of domestic capital. For instance, we could build on the Pension Schemes Act by requiring default pension funds to adopt a UK-weighted approach to listed equity, with UK equities making up, say, 20% to 25% of listed holdings in order for them to continue enjoying the various tax reliefs on offer, but giving funds and individual savers full agency to opt out. According to the New Financial think-tank, that could unlock as much as £75 billion of additional investment into UK companies. I am aware that this idea is held by a number of right hon. and hon. Members in this House, as well as Members of the House of Lords. We could also scale up the British Business Bank’s British growth partnership so that it is more in line with the scale of France’s Tibi initiative, while giving the British Business Bank and the National Wealth Fund complementary mandates to crowd in capital for the larger funding rounds. We could support UK scale-ups—which my right hon. Friend the Prime Minister just mentioned in his statement in the main Chamber—with the British Business Bank focusing on those companies from series B to C, and the National Wealth Fund acting as a direct investor in later-stage companies. Finally, we should maintain our focus on unlocking some proportion of the £600 billion of retail capital currently held in cash, in individual savings accounts or other savings accounts. With the right mix of financial education, a simpler ISA product framework, tax incentives and, crucially, accessible investment research, we can ease access to capital from growing domestic companies while enabling British people to own a greater share of our economy’s future success.

• 1 Sept 2026 · UK Financial Services · Hansard source

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  I could not agree more with my hon. Friend. In this space and across many policy areas, what business and investors require and demand from us as policymakers—regardless of which party happens to be in power—is policy certainty. When we risk lurching in various directions, with various priorities and changing timelines, the only result is that investors withdraw or deploy their capital in other countries. Frankly, with regard to the clean energy transition, that will ensure that other countries, be they our competitors or our foes, will have a massive, global competitive advantage over us. I do not think it is a good idea for us to enable that. Changing tack, the UK also faces the challenge of our constituents accessing affordable financial services and products. We need to honestly confront the barriers that still prevent too many of our constituents from opening a basic bank account, building even a very modest savings buffer for when times are hard, and accessing safe and affordable credit or securing the insurance that protects people from life’s shocks.

• 1 Sept 2026 · UK Financial Services · Hansard source

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  I could not agree more. Since entering Parliament in 2024, my hon. Friend has been a leading voice for the role that co-operatives and mutuals can play in the broader ecosystem of UK financial services. He will know well that the Government are committed to doubling the size of the co-operative and mutual sector. Financial services should play a big role in helping to deliver that agenda. I started my career supporting the development of credit unions and community development financial institutions, which have many similar economic and social objectives to building societies, co-ops and mutuals. My conviction is as strong as it was 15 years ago that they have an important role, not to replace or be a substitute for mainstream high street banks but to be part of the integrated financial ecosystem described by my hon. Friend the Member for Peterborough (Andrew Pakes). The UK has a lot to learn from other countries, such as Germany, Canada and Australia, about how best to do that in a sustainable way. The Government can already be proud of a strong record, from last November’s financial inclusion strategy to the commitment to roll out 350 banking hubs across the UK. My constituents in Buckingham and the surrounding rural communities greatly value the hub that opened just before I was elected in 2024, and the expansion of the reach of the Help to Save scheme to more than 3 million people through universal credit. Specifically on the financial inclusion strategy, although it is no doubt thoughtful and well considered, I encourage the Government to go even further and prepare clear, measurable performance indicators against all six of its pillars, so that we can see in a year or five years how far it has advanced the UK in being financially more inclusive or otherwise. Government, industry, regulators and civil society can then best identify where the barriers to inclusion continue to lie. I am conscious that I have spoken for almost 20 minutes, so my final point is about skills. Skills gaps in the financial services sector, if left unaddressed, not only threaten the sector’s productivity and future global competitiveness but, most importantly, its collective ability to innovate, grow and best serve our constituents, who are ultimately the customers of those companies. I commend the financial services skills compact, which according to my latest research is now signed up to by more than 20 firms, covering more than 250,000 employees. Although such industry-led initiatives are crucial and valuable, the Government also have an essential role to play. Two things would strengthen that essential private-public partnership. First, Government can be much more ambitious in using the flexibility of the growth and skills levy to fund dedicated conversion pathways into financial services for adults outside London, perhaps matched by employer-funded boot camps in regional clusters, be that in Bournemouth, Edinburgh, Leeds or Belfast. The talent pipeline should grow where the jobs already exist and are growing. Secondly, Government and industry, through the Financial Services Skills Commission, should build a shared live map of regional skills gaps, which would allow apprenticeship places, training, investment and further educational funding to target the specific shortages that each region faces, rather than rely on a slightly arbitrary national formula that takes no account of where the sector actually needs people. Those are just a few of my summer observations on the future of UK financial services. The underlying drive and rationale are ultimately the same, starting from a familiar place. The UK already has a lot of the ingredients that allow it to be a global leader in so many parts of financial services. However, if we are to stay ahead of the other great global financial centres, be that New York, Frankfurt, Singapore or Hong Kong, we need the Government and Parliament to work together with industry to provide the right regulatory framework, the spirit of innovation and the commitment to making our constituents’ money work better for them so that the financial services sector itself can further strengthen the UK’s economic, energy, industrial and national security and sovereignty. I look forward to the contributions from Members across the House this afternoon and I would be happy to meet the Economic Secretary later this autumn to discuss any of the points I have raised if that would be helpful.

• 1 Sept 2026 · UK Financial Services · Hansard source

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  I confess I have not read the Conservative party’s full recommendations in this regard. The Government are clear that the Financial Ombudsman Service needs reform; it is not working for the sector, consumers or the UK’s international competitiveness. The Conservative party will put forward its recommendations, and the Government will make their considerations as part of the Financial Services and Markets Bill, which will be debated in the House of Commons Chamber in October. I recognise the downsides that the hon. Gentleman identified in his intervention, so I thank him for it. The Minister already knows my views on retail capital. There is an excellent opportunity in the months ahead—certainly, in the run-up to the Budget in October—for the UK to establish a long-term retail investment strategy that is co-designed by industry, Government, civil society and regulators to be the best mechanism to realise the full potential of UK investors’ savings. The second challenge that I want to turn to lies in how we manage artificial intelligence, which I became very familiar with when I was Parliamentary Private Secretary at the Department for Science, Innovation and Technology, and the broader digital revolution in financial services. Distributed ledger technology and tokenisation are having an ever-increasing influence on the international financial ecosystem. The UK should continue to act as a global leader and embrace that change now so that regulators, industry, investors and consumers alike can benefit from lower costs, widen access to capital, deliver a more efficient industry and enjoy the benefits of more productive investment. At the same time, that requires us to fully build the infrastructure, regulatory framework and market confidence to allow innovators to scale safely and responsibly. I welcomed Chris Woolard’s first report as the UK’s wholesale digital markets champion. It marked an important step in delivering the Government’s wholesale financial markets digital strategy, but we now need to shift up a gear. I would focus on two immediate priorities. First, the Government should publish a clear road map for DLT-enabled capital markets. UK financial markets—and global financial markets more broadly—need certainty about the sequence of reforms, the regulatory framework that the UK proposes to put forward and how new infrastructure will connect with the systems that are already in use by market participants. Second, we should use DIGIT—the digital gilt instrument—to build momentum across the market by setting a clear timetable for regular, benchmark-scale digital sovereign bond issuance so that we are properly mainstreaming UK Government debt in the financial market system. On artificial intelligence, it is right that AI can transform productivity, investment management, fraud detection and customer service across the economy and society. But those opportunities also bring new and unfamiliar risks, from automated decision making that leads to unintended consequences to cyber-attacks by belligerent forces and operational disruption due to a greater dependence by industry on a small number of technology providers. With that in mind, I was proud to partner with Community trade union, which I should disclose that I am a member of, in May to launch its responsible AI charter for financial services; Zurich UK was its first signatory. The charter sets out practical principles for ensuring that AI is adopted responsibly, transparently and with people at the heart of its deployment. The Bank of England’s recent work makes it clear how quickly the risks that I just identified are growing. That is why we must maintain the urgent momentum on implementing the financial services AI adoption plan. The third challenge facing the sector, which I want to address briefly, concerns the clean energy transition. I will not discuss the benefits or otherwise of which energy sources we may like to prioritise, but in my view, net zero cannot be delivered by public investment alone, however committed the Government are to that mission—and rightly so. Long-term, patient private capital also has a crucial role to play in supporting tomorrow’s energy infrastructure, from onshore and offshore wind and grid upgrades to next-generation nuclear power. In order for that capital to be committed effectively, I would welcome an annual published pipeline of investable clean energy projects so that firms and asset owners can plan and deploy investment at the scale and pace that our net zero commitments demand.

• 1 Sept 2026 · UK Financial Services · Hansard source

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  I will keep it short, so that we do not overexcite ourselves on the first day back after summer recess. I can only thank right hon. and hon. Members from all parties for their contributions and for adding extra dimensions to the debate. I thank the Liberal Democrat spokesperson, the hon. Member for Witney (Charlie Maynard), the shadow Economic Secretary to the Treasury, the hon. Member for Wyre Forest (Mark Garnier), and my right hon. and learned Friend the Economic Secretary to the Treasury for their constructive contributions. It is clear that we have a united front and a shared collective recognition, not only of the value of UK financial services in their own right, but of their importance for all our constituents. Question put and agreed to. Resolved, That this House has considered the future of UK financial services.

• 9 Jul 2026 · Topical Questions · Hansard source

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  Farmers in north Buckinghamshire have raised queries with me regarding the transition from environmental land management agreements that expired this year to the funding available through the much-welcomed sustainable farming incentive 2026. Will the Secretary of State set out how the Government are supporting farmers through the transition, so that there are no unintended funding gaps for those who want to deliver positive environmental outcomes?

• 9 Jul 2026 · Topical Questions · Hansard source

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  T1. If she will make a statement on her departmental responsibilities.

• 2 Jul 2026 · Youth Employment · Hansard source

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  Small and medium-sized enterprises are often best placed to kick-start a young person’s career, but when I met a group of small business owners at the Crown pub in Granborough, many told me that the up-front costs of training and supervision often act as a barrier to taking on young people. Will the Secretary of State update the House on what support the Government are providing to incentivise small and microbusinesses in helping to give opportunities to young people?

• 2 Jul 2026 · Business of the House · Hansard source

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  This weekend, more than half a million people from around the world will descend on the Silverstone circuit—half of which is located in the Buckingham and Bletchley constituency—hopefully to see another British win at the British grand prix. The race will also allow Buckinghamshire to showcase its status as a hub for high-performance engineering in which more than 8,000 people are employed by 1,700 businesses. Will the Leader of the House join me in wishing British racers the best of luck this weekend, and might he find time for a debate on the contribution of Formula 1 and motorsport to the UK economy?

• 4 Jun 2026 · Cost of Fertiliser · Hansard source

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  Buckinghamshire farmers are hugely exposed to the global volatility in the fertiliser market, and many farmers in my constituency have faced increased costs of over 14%. Will the Minister update the House on what other efforts the Government will make to support the supply chains for farmers in Buckinghamshire so that they can be competitive and sustain domestic food production?

• 18 May 2026 · Backing Business to Create Economic Growth · Hansard source

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  The urgent need for, and the strategic imperative of, economic growth matters nowhere more than in Buckingham and Bletchley. My constituency lies at the heart—the engine room—of the Oxford-Cambridge growth corridor. If we get economic growth right, it will enable us to support high-growth businesses across my constituency and beyond, strengthening the local economies of Buckinghamshire and Milton Keyes and enabling the UK to develop a strategically important economic region. It will build a globally competitive, modern British economy, with higher wages and more opportunities for the families and communities I represent in Parliament. In addition to the measures that the Government introduced in the first parliamentary session, I established the Bletchley investment taskforce, bringing together local leaders, employers and investors, as a vehicle to attract the businesses, investment, jobs and apprenticeships that communities in my constituency need. In the coming weeks we will publish our first investment prospectus for Bletchley, and I am grateful to colleagues from across Government who have been supporting our work. In Bletchley, firms such as Pulsar Fusion and Carnot Engines are developing innovative technologies that are global leaders. On the other side of my constituency, the advanced engineering cluster surrounding Silverstone is home to a number of world-leading Formula 1 teams, again showing that when Britain invests in its people we can be global leaders. There are also parts of my constituency that are home to a number of rural enterprises, family farms and small independent businesses, which are all contributing to local growth and prosperity. Those businesses are asking not for special favours but for the right conditions to grow: access to capital and talent, fair regulations, and lower barriers to trade. That is why I welcome a number of the measures in the King’s Speech. The regulating for growth Bill is particularly welcome because over the last 25 years Britain has become a country, as Members across the House have mentioned, where the regulation system is too slow, too fragmented, and poorly suited to confront the pace of modern technological change. Other Members have also mentioned the enhancing financial services Bill and the wider Leeds reforms that will come with it. I congratulate the Chief Secretary to the Treasury, my hon. and learned Friend the Member for Northampton North (Lucy Rigby), for all the work she did to lay the foundations of that Bill. Financial services are one of Britain’s great strengths, providing the investment that drives growth across all sectors of our economy. That is particularly relevant to Milton Keynes, as it is home to a growing suite of financial and professional services firms such as Santander and Allica Bank, both of which employ people in my constituency. A globally competitive financial services sector is imperative in enabling high-growth companies in my constituency to access the capital that they need to innovate and create jobs. However, we also need to mobilise more British capital towards British assets, particularly high-growth companies. As many Members debated in the last parliamentary session, it is now important that the Government focus on implementing the Pension Schemes Act 2026. I also welcome the small business protections Bill. Late payments and non-payments continue to damage firms of all types and sizes across the country, including in Buckingham and Bletchley, particularly those operating within tight margins. The stronger protections in the Bill for smaller companies will help local firms across my constituency. I will not be as effusive about the European partnership Bill as some other Members who have spoken, but I believe it is in the national interest to take the required measures to reduce unnecessary friction for exporters and businesses trading with our European neighbours, regardless of whether they are farmers or other high-growth companies. The success of the King’s Speech in the coming months will depend on whether we match it with the ambition of local companies, such as the ones in my constituency. I look forward to playing my part in ensuring that those measures are implemented as soon as possible.

• 27 Apr 2026 · Topical Questions · Hansard source

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  Around half of working-age people are under-saving for retirement, which is why I welcomed the relaunch of the Pensions Commission last year. Can the Minister update the House on how the commission’s forthcoming interim report will set out a credible path to raising contribution rates, in a sustainable way, for those who need that most?

• 23 Apr 2026 · Topical Questions · Hansard source

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  T3. The UK rightly committed 1.5% of GDP to boosting our national resilience, along with our NATO partners. Ahead of the next NATO summit in Ankara in July, can the Minister confirm whether the Government will publish a departmental breakdown of how the UK will meet its commitments?

• 26 Mar 2026 · Topical Questions · Hansard source

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  T7. Residents across Winslow and Bletchley are increasingly frustrated at the lack of East West Rail passenger services. Can the Secretary of State update the House on what discussions the Government are having with rail partners to resolve the outstanding issues, and on when my constituents will get a clear timetable for when they can use that vital rail link?

• 26 Mar 2026 · National Savings & Investments · Hansard source

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  I thank the Minister for providing an update. Many families across the country will be incredibly anxious about this news. Can he tell us a bit more about how he will hold the new executive and non-executive teams to account, to ensure that lessons are learned and there are no more systems failures in the future? Beyond the two Select Committees he mentioned, how will he keep the House up to date?

• 24 Mar 2026 · Topical Questions · Hansard source

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  T7. I recently visited the Gawcott Fields Community Solar project, which is a local solar farm that uses the income from the clean energy it produces to invest in energy saving and environmental projects, and it is anticipated that it will invest £2.8 million over 25 years. Can the Minister update the House on how the Government will use the local power plan to ensure that even more of my communities—particularly rural and low-income ones—can take control of their own energy?

• 19 Mar 2026 · Sustainable Farming Incentive · Hansard source

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  I was pleased to welcome my right hon. Friend to Adstockfields, a great small family farm in the Buckingham and Bletchley constituency, for a rural summit. As she knows, the SFI came up frequently. Can she set out for the House the steps that she has taken to ensure that farmers with SFI 2023 and countryside stewardship mid-tier agreements that are expiring this year can move on to SFI 2026 agreements, without losing any support?