Dear Constituents,

Thank you for taking the time to read my newsletter.

We have just passed the 100-day milestone since July’s general election and I have been working hard to represent my constituents and make sure that this Government delivers on its promises.

A commitment to our public services like the NHS is what inspired me to get involved in politics, and the Royal Free hospital in my constituency is where I have seen the health service at its best. The staff there work so hard to provide the very best care for their patients. However, record-level waiting lists, staff shortages, and years of mismanagement by the last government has put serious pressure on health workers and let patients down.

My Labour colleagues and I have already taken action to fix the health service, by ending the doctor’s strike and publishing a 142-page report, by top surgeon Lord Darzi, to identify exactly where the problems lie. Having spoken to constituents on the doorstep and in hospitals, staff and patients know best about which areas of the NHS needs the Government’s attention. That’s why the Government is inviting the public, NHS staff, and experts to share their experiences, views, and ideas for fixing the NHS, through an online consultation. I would encourage all my constituents with experience of the health service to get involved by submitting your thoughts through the online portal (change.nhs.uk).

I am also pleased to have voted for the Government’s Employment Rights Bill this month, which will deliver the biggest upgrade to workers’ rights in a generation and save workers in the lowest paid, most insecure jobs up to £600 a year. For years, I have campaigned for greater access to flexible working, as it leads to greater employee retention, job satisfaction and work-life balance. One of the key measures in the Bill is to change the law by making flexible working the default for all, in all reasonable cases. In particular, this will make it easier for parents and carers to work. There are many forms of flexibility at work and, thanks to our campaign, I am proud that this Government recognises the benefits for both the employee and employer and is taking action to make sure flexible working is a right for all, rather than a perk for the few.

As City Minister, it has been a busy month meeting with European officials, speaking at conferences, and connecting with businesses. I particularly enjoyed attending the Government’s International Investment Summit, where a record breaking £63 billion of investment in the UK was secured. These projects will create close to 38,000 new jobs across the UK. Investment on this scale is essential to our mission of growing the economy and improving living standards. The Summit was a great opportunity to fit in some important meetings, and I was glad to be able to connect with the Lord Mayor of London (in the City), Managing Director of Google, Head of Investment Banking at Deutsche Bank, and others including my friend the Mayor of London Sadiq Khan.

As part of my ministerial duties this month, I met with the Association of Financial Mutuals to discuss the important role member-owned organisations play in our communities. Following on from this, I met with the former CEO of Nationwide and Chair of the independent Future of Payments review Joe Garner, to discuss how the UK payment landscape can be more efficient for consumers. I also spoke to regulators at the Financial Conduct Authority’s reception in Parliament about their role in facilitating growth. It was great to meet the CEO of Citizens Advice about how we can work together to better protect vulnerable customers in debt. I also met with the Chief Executive of the charity, Mencap, where to discuss the multiple levels of financial exclusion experienced by those with learning difficulties. As well as other events you can read about below, I was delighted to speak at the London Stock Exchange about the importance of sustainable finance.

Beyond financial services, I was so glad to welcome a group of constituents from St Mungo’s to Parliament for a tour. This charity does so much in the constituency, supporting people experiencing homelessness and rough sleeping. Ahead of International Day of the Girl, I met with Brownies and others from the charity Girlguiding – a special opportunity to show that women and girls belong in places like Parliament to drive positive change.

Please read on to see more of what I have been up to both in Parliament and locally. Thank you again for taking the time to read my newsletter this month and please do be in touch if I can be of any personal assistance.

Best wishes,

Tulip Siddiq MP
MP for Hampstead and Highgate

Regulating Buy Now Pay Later

As part of my role as City Minister, I am responsible for ensuring that financial services firms can innovate and that consumers are protected. Millions of people use Buy Now Pay Later (BNPL) products to manage their finances, but the previous Government’s dither and delay left the industry without certainty and customers without regulatory protection. According to the Financial Conduct Authority, last year 14 million people used BNPL services, and frequent users were four times more likely to have recently missed a payment for a bill or credit commitment than those who had not used the loans.

Before the last election, I pressed the then-Chancellor to take action and regulate the sector, and I am now spearheading this legislative change as part of the new Labour Government. Our plan is to introduce new levels of protection not currently offered for BNPL services. The significant change for consumers is that they will receive credit card-like protections, independent complaints handling, and clearer information about their purchase. To find out more, you can read my interview with Laura Purkess here. My announcement was also covered by the Financial Times, City AM, The Mirror, the Independent, Bloomberg, and The Guardian.

Visiting Carbon Neutral Social Housing in Camden

This month, Anne Clarke AM and I were given a tour of 5-7 Belsize Grove, a council owned property which provides 58 bedsits and self-contained flats in converted 19th Century villas. Camden Council has invested in a major retrofit to upgrade insulation and install solar panels to keep residents warm and bills down, as well as helping to tackle the climate crisis. The team from Ameresco had clearly worked hard to make sure that the changes were in keeping with the building’s Victorian heritage, whilst providing a much needed 21st Century update. Sash windows, mouldings, and new rendering ensures that the building is in keeping with the area, whilst providing vital improvements to the lives of residents.

I was particularly struck by the positive relationship between the residents and the retrofit team. The project required significant disruption with residents needing to move around whilst work was done on each flat. The warm relationship between residents and the retrofit team was a testament to how much work had gone into involving and supporting the residents through the process. My colleagues in Government and I are working hard to deliver the changes that are needed to solve the climate crisis. Camden Council have shown that everyone can be part of this effort.

Supporting Women Entrepreneurs

I firmly believe that women entrepreneurs are key to driving innovation and regional growth. However, only 1.5% of global FinTech firms are founded solely by women, and receive just 1% of total venture funding. I was therefore delighted to speak to the Athena Festival, hosted by LiftedVentures, about the importance of supporting female founders across the UK.

As you may know, I have campaigned for many years about improving women’s access to the workplace and equal pay. It was fantastic to discuss breaking down these barriers with Tanuj Kapilashrami, Head of Strategy and Talent at Standard Chartered, and how we can achieve long-term change across the industry.

Championing Financial Inclusion

I am passionate about breaking down barriers to accessing finance. Currently, around 14 million people in the UK have less than £100 in savings. It means 14 million people have no money aside for a rainy day and no opportunity to plan ahead for retirement or invest in their families’ future. This month, I have spoken at conferences, forums and with business leaders about tackling this problem.

Firstly, I had the privilege of delivering the opening keynote speech at the ‘Innovation Driving Growth Conference’ this month. It was inspiring to see FinTech companies come together to discuss how the industry can create more inclusive financial services. As part of the conference, hosted by Innovate Finance, I spoke at the ‘Fintech as a force for Good’ forum. I heard directly from sector leaders and we discussed how we can work together to drive growth, jobs and opportunities.

I also had the pleasure of speaking at the Access to Credit Symposium, hosted by the Finance and Leasing Association. I was excited to see stakeholders from the sector and consumer groups come together to tackle financial exclusion. Similarly, I was delighted to support the Wagestream Financial Wellbeing Forum which brought together FinTech employers to drive change.

Welcoming a Homelessness Charity to Parliament

This month I had the pleasure of welcoming a group of service users and staff from St Mungo’s to Parliament for a tour. I receive a lot of casework from constituents experiencing or at risk of homelessness. St Mungo’s offer life-saving support to many in my constituency and beyond who are caught up in the housing and cost-of-living crises facing the UK. It is so important to have a charity like St Mungo’s operating in Camden, offering support and a lifeline to so many. St Mungo’s also do great work at a policy level to fight for an end to homelessness. They are supporting this Government’s Renters’ Rights Bill, which will protect renters and help stem the tide of ‘no-fault’ evictions that drive homelessness.

Meeting European Leaders

I want to reset our relationship with our European neighbours, and I know how important this is for my constituents in Hampstead and Highgate. The EU is our closest trading partner, and we are undeniably stronger when we work together to solve collective challenges. The Prime Minister, Keir Starmer MP, and I are determined to put the Brexit years behind us and establish a more pragmatic and mature relationship with our partners. I had several meetings with European leaders this month to do just that.

Alongside the Chancellor, Rachel Reeves MP, I met with the EU Commissioner for Financial Services, Mairead McGuinness, to discuss our work with European partners and support global financial security. It was a pleasure to meet with Sweden’s Minister for Financial Markets, Niklas Wykman, and the Swedish Ambassador to the UK, Stefan Gullgren. We emphasised the vital role that financial services play in economic growth and importance of financial stability. I also spoke with Daniela Stoffel, State Secretary for International Finance of Switzerland, to discuss the UK-Swiss financial services relationship. Daniela and I are working together on the implementation of the Berne Financial Services Agreement, and I look forward to increased financial cooperation between our two countries.

Maggie’s Centres Crash Menopause Campaign 

Did you know that some cancer treatment can cause an early treatment-induced crash menopause? 60% of people do not know that could happen. It was therefore a pleasure to be a part of Maggie’s Centres campaign to raise awareness and highlight the support women are entitled to. You can watch the video that I feature in, alongside a variety of inspirational women who want to keep the conversation about menopause going.

Maggie’s is a cancer charity very close to my heart, and they do an incredible amount of important work in the constituency, including through their centre at the Royal Free Hospital. Their centre offers people a space that makes them feel at home. They can drop-in and speak to one of their cancer support specialists, an experienced psychologist, receive financial and practical support, and join support groups for people going through similar experiences. I want to pay tribute to the work of their CEO, Laura Lee, who has been relentlessly campaigning to raise awareness of how cancer treatment can cause early onset menopause and how this information can be made more available. To find out more information about the local services Maggie’s provide, click here to find their website.

Tackling Fraud as City Minister

Fraud is the most common crime in England and Wales, representing more than a third of all reported crime. I believe the best way to protect innocent people is to prevent the fraud before it takes place. As City Minister, I announced this month that banks will be given an additional three days to delay suspicious payments and investigate them. This has extended the investigation window to up to four working days.

While this is a much-needed change, more needs to be done in the future. I am working across government, with all ministers, on how we improve our approach to ending the fraud epidemic.

Durga Puja Celebrations at Swiss Cottage Library

It was a privilege to be with the London Durgotsav Committee for their 61st year of celebrating Durga Puja in Camden. This annual Hindu festival celebrates the triumph of the goddess Durga over Mahishasura. The full festival runs for 4 days and I was pleased to be able to join the community again this year at their celebrations in Swiss Cottage. The large events room (where I held my General Election campaign launch!) was totally transformed with food, decorations and shared worship.

Attending every year is an important opportunity to be reminded of the contribution that Hindu communities make to the rich diversity of my constituency. I would like to thank Mainak Roy from the London Durgotsav Committee for inviting me again this year and I look forward to joining again next year.

Christmas Card Design Competition

I am delighted to announce that I’ll be running a Christmas Card competition this year. The competition is open to all primary school-aged children who go to schools in Hampstead and Highgate or live in the constituency. The winning design will feature on my online Christmas Card to be sent to local councillors, community organisations, MPs and others! Entries need to: be A5, landscape, and in .jpeg or .png format; include the entrant’s full name, age, full address with postcode, and the contact details of a parent, carer or teacher; either be submitted by email to tulip.siddiq.mp@parliament.uk by 15th November, or submitted by post to ‘Office of Tulip Siddiq MP, House of Commons, London, SW1A 0AA’ by 8th November.

I will also be hosting a reception for all the winners and runners-up (and their parents and teachers) in Parliament on Thursday 12th December. This is a wonderful opportunity to share the world of Westminster with children in the constituency and show them that it is available to all of them. I look forward to seeing the designs and hopefully welcoming some of you to Parliament in December.