October 2025

Parliamentary appearance by Mark Ferguson

It is a pleasure to serve under your chairmanship, Mr Turner. Please do not adjust your sets: I am not the Economic Secretary to the Treasury. But I am very pleased to be here on her behalf for my first stint at the Dispatch Box. [Hon. Members: “Hear, hear!”] Thank you. I am grateful to my hon. Friend the Member for Oldham West, Chadderton and Royton (Jim McMahon) for securing this important debate. He is a huge asset not only to our party and his constituents but to the Co-operative party, whic

My hon. Friend intervened on my maiden speech, which is slightly irregular, and now he has intervened on my first outing at the Dispatch Box. Co-operatives have a wide variety of uses in the economy and I am sure that the Department and the Government more broadly will consider them. Their importance in community cohesion is certainly not lost on me or, I am sure, on other Members here. On the shadow Minister’s question about cash ISAs, cash savings are important for people looking to put cash a

That point is very well made, and my hon. Friend is right to be proud of his forebears, who were doughty working-class politicians and representatives of his area, as he is. The Rochdale principles, established by the Rochdale pioneers, have formed the basis of modern ideals for the operation of co-operatives across the globe. The UN General Assembly declared 2025 to be the International Year of Co-operatives, recognising the positive impact that co-operatives have around the world. The Governme

I have to make progress—sorry. Additionally, the Government asked the Financial Conduct Authority and the Prudential Regulation Authority to produce, by the end of 2025, a report on the wider mutuals landscape, which is well under way. The Government are continuing to fund the Law Commission’s independent review of the legislation that governs co-operative societies in Great Britain, which is expected to be published later this year. That review will consider ways to update and modernise the leg