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Full Parliamentary RDR debate request turned down

A request from two MPs for a full parliamentary debate on the RDR’s impact on IFAs has been turned down.

Conservative MP Mark Garnier says the back benchers business committee rejected the request because of its proximity to last week’s Westminster Hall debate on the subject and the fact that the RDR has recently come up in a Treasury select committee evidence session.

Garnier said: “They suggested coming back in a month when some time has fallen between the debates and our request, we are not going to let this go.”

Treasury select committee member Garnier is calling on IFAs to lobby their local MPs and has written to 50 who contacted him on the subject asking them to do so.

He says: “They need to get in touch with their MPs and say this debate is something which may happen and would they support it.”

Garnier offered his support in seeking a full debate after last week’s initial parliamentary RDR debate in Westminster Hall, secured by fellow Conservative MP Harriett Baldwin.

During the debate, Garnier said: “The interest that I have encountered is certainly unprecedented.”


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There are 11 comments at the moment, we would love to hear your opinion too.

  1. paolo standerwick 26th October 2010 at 4:43 pm

    corruption of the highest order!

  2. No big surprise

    Democracy clearly does not exist in this country any more.

    I am still awaiting a response from a meeting I had with my MP (the Attorney General) in July who has always listened and had genuine concern and he passed my concerns and letter on to George Osborne on 26th July but I have still to get a response.

    MP’s and the FSA seem to have no interest in debate or addressing the concerns many have, just their own objectives are what counts.

    You either do what they say or leave the industry, they don’t care one way or the other at least that is the impression they seem to be giving.

    Strange coming from a Government who told us in the Queens speech that we can expect and I quote “My Government’s legislative programme will be based upon the principles of freedom, fairness and responsibility.”

    Do we really have that in financial services?

  3. This is not “no never” this is “no not now”. This will give ALL IFAs time to write to their MP and ensure this motions is supported.

  4. Ah well! tea break over back on your heads………..

  5. What the FSA and those MPs need to remember is thoe who leave the indsutry after not being listened too may be even more of a pain in the proverbial form them than if they listen (two ears one mouth for a reason) and take on board what is being said out the timeline of the RDIP rather than putting those who disagree on the timeline in the “naysayers” camp, when in fact it is more a timing and consumer detriement issue

  6. Like MIchael Fallas, I e-mailed not my MP but Mark Hoban, Financial Secretary to the Treasury, on the 19th August about concerns I had with RDR. This was acknowledged by his secretary but, despite two reminders to the secretary and a repeat of the e-mail to Hoban, I have heard absolutely nothing. Big Society??

  7. Jennifer Nicholls 27th October 2010 at 10:16 am

    I have emailed my MP and Mayor, awaiting reply, just asking for understanding. It maybe a too complex issue for them I fear.

  8. Lets face it we do not count in the eyes of Policitians. Let down by this new governement and the AIFA is an unerstatement. Shambolic springs to mind.

  9. As someone above said this is not a ‘no’.

    Contact every IFA you are friends with and make sure their firm/network/business services provider gets the message out to the other members.

    Siomply ask your MP to support a 3 hour debate in the chamber of the house regarding the RDR.

    The MPs are very well versed in the issues and there were many of them considering that was a small back bench meeting.

    Dont give up you have their ears for once.

    Remember in addition there are hundreds of jobs going preparing for the RDR already, Skandia shed a few hundred jobs, Aegon is shedding jobs, part of AXA is going or has gone, the Co-operative bank has sold its IFA arm, the CIS is up for sale, this could empty that huge building in Manchester thousands of jobs and billions of pounds cost on an idea which is more than likely doomed to fail.

    The potential job losses on the MP’s doorsteps will be helping the cause.

  10. Telling limited truths is being used to imply in a letter that anyone who disagrees with RDR is lying, rather than stating valid concerns.
    This is what you are up against…..

  11. The cofidence that MP’s will respond or even care is beyond belief. Reports of MPs not reponding have been tenfold or have you not been reading the responses to the many headlines?

    I wrote to my new Conservative MP some 6 weeks ago but to date have not received even an acknowledgement You would think would’nt you that he might want to make an impression having won the seat from Labour.
    TCF for IFAs seems to be ignored.
    I would suggest all those misguided people who have faith in the Government should think again.

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