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Abena closes the debate on Financial Services and Markets Bill

We recognise that regulatory divergence from the EU will produce opportunities for the Financial Services sector.   Labour is committed to supporting the City to retain its competitiveness on a world stage and supporting the UK to remain a global financial centre outside the EU. This should not, however, mean any compromise on financial stability or consumer protections.

The debate also highlighted how small and medium-sized businesses, such as hairdressers and nail salons, rely on cash payments.   All too often, the most vulnerable in our society are unable to afford or are denied access to financial products and services that meet their needs.  The Government  should recognise that the Bill is an opportunity to rethink how financial resilience, inclusion and wellbeing issues are tackled in the UK.

You can watch my speech using the following link here, and you can read my speech here

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Parliamentary business continues despite crisis

I hope you are staying home and keeping safe at this very challenging time. I’m working from home where my job as your MP continues. My team and I continue to support local people with a range of casework, from helping people to access financial support as a result of Covid-19 to assisting those stranded overseas. I’m also still holding the Government to account and demanding answers where their strategy is failing.

Parliament will be meeting virtually for the duration of the lockdown and business will continue as much as it possibly can. I’m taking the concerns you’ve raised with me directly to Ministers. 

This week and next at Parliamentary question time I’ll be asking the Culture Secretary about the support available for self-employed people working in the digital, culture, media and sport industries affected by Covid-19. I’ll also be asking the Justice Secretary about the very serious challenges facing our prisons at this time and what action is being taken.

Next week, my Housing, Communities and Local Government select committee will be questioning Secretary of State Robert Jenrick. I’ll be asking him how he is ensuring local authorities like Greenwich and Bexley get the financial support they need at this time of crisis. Councils have faced massive cuts and the Government must step up to ensure they meet all of the costs associated with delivering social care and other vital local services.

My committee, with my support, will also be launching an inquiry into the impact of Covid-19 on homelessness and the private rented sector. I and many of my colleagues have serious concerns about the short and long-term impact on homelessness and those in insecure housing and we want to hear from those affected and organisations supporting them in order to make recommendations to Government. You can submit your views to hclgcom@parliament.uk.

If you have an issue you need my help with or if you have any questions or concerns to put to me, please don’t hesitate to get in touch and my team and I will get back to you as soon as we can.

Abena Oppong-Asare

MP for Erith & Thamesmead

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Covid policy response for self-employed in creative industries

The measures required to contain the spread of COVID-19 (coronavirus) are unprecedented and demand a national effort. But more support needs to be offered for those who are in the creative industries and therefore self-employed.

The Government announced a set of emergency measures outlining financial support during the coronavirus outbreak. Since I wrote to the Chancellor, Rishi Sunak MP, calling on the government to introduce further emergency financial measures the Government has announced the self-employment support scheme.

However, this does not go far enough to guarantee the income of workers who are self-employed in the creative industries and do not qualify for this scheme.

Our creative industries are worth a total of £117bn to the economy, much of this is due to the talent in its workforce. The creative industries have vanished overnight due to the coronavirus pandemic and so this workforce should be treated with the same support as those in secure jobs.

The latest Government response to those who do not qualify for the self-employed support scheme due to working within creative industries is: “We recognise that there are challenges for the creative industries in accessing government support. The Fed team is in ongoing conversation with the government to ensure that this support better fits the needs of the creative industries.”

In the meantime, I am doing all I can to make sure those in the creative industries get the support they need from the Government. This issue has been highlighted to the Government and is one myself and my colleagues are working on ways to pressure the Government into acting on urgently.

My colleague has contacted the Chancellor, Rishi Sunak MP, to raise these concerns which you can read here: https://bit.ly/3azWSnK.

Things are changing fast and so I would ask that you keep an eye on the Governments official website for updates on any changes to the financial offer for those in the creative industries. You can find that here: https://www.gov.uk/coronavirus

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