Commons Sense

House of Commons · Ministers' Questions

Freedom of Speech: Financial Sector

Tuesday 5 September 2023 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 3 Partly answered 0 Not answered 0

Key points

  • Minister met with banking executives to discuss debanking and freedom of expression during recess.
  • Minister agrees banks should focus on core functions and treat customers fairly, not engage in political agendas.
  • Government agrees no one should be denied banking facilities due to lawfully expressed religious beliefs.

Topics (select to filter)

Questions & Answers

Q1 Marco Longhi
Culture, Media & Sport Standards & Ethics
Context

Discussions about banks debanking customers based on political views have raised concerns about freedom of expression.

Question

What discussions has the Minister had with representatives of the financial sector regarding freedom of speech and debanking customers due to political views?

Answer from Andrew Griffith

During recess, I met with banking executives to discuss debanking and lawful freedom of expression; they have committed to comply with changes published on 21 July. The Financial Conduct Authority is conducting an urgent review of debanking practices which will report back to the Chancellor in the next couple of weeks.

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Q2 Marco Longhi
Context

There is concern that banks and corporations are taking sides in politically contentious matters rather than focusing on their primary functions.

Question

Does the Minister agree with me that banks and the corporate world should follow the police example of focusing on their core business instead of engaging in political agendas such as cancel culture?

Answer from Andrew Griffith

My hon. Friend represents the views of his constituents in this place clearly; he is right: although they are private entities, banks benefit from a privileged place in society and should focus on doing their core functions brilliantly, treating customers fairly, making sustainable returns for shareholders, rather than taking sides on politically contentious matters.

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Q3 Jim Shannon DUP Strangford
Religion & Faith
Context

There are concerns that individuals with different religious beliefs might face discrimination from banks, similar to the issue of political views.

Question

If ever the day came when banks censured anybody because they had a different religious belief, I would stand up against that. Does the Minister agree?

Answer from Andrew Griffith

Let me be clear: yes, the Government agree with that; no one should be debarred from access to banking facilities in our society because of a lawfully expressed view. If he and other hon. Members wish to make representations, the Financial Conduct Authority is currently conducting a review of this matter.

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