Chuka Umunna MP

Val Shawcross AM, who represents Lambeth and Southwark in the London Assembly, will be Ken Livingstone’s running mate in the May 2012 London mayoral election it has been announced today.

Commenting on the announcement, Chuka Umunna MP, whose constituency is located within the area Ms Shawcross represents, said: “I am absolutely delighted that Ken has appointed Val as his running mate. She has done a first rate job representing the wonderful people of Lambeth and Southwark since the GLA’s creation and I know she would do the same for the whole of London.”

“As a former London Council Leader, Chair of the London Fire & Emergency Planning Authority and now a member of the Metropolitan Police Authority, Val brings a huge breadth of experience to the role – far more than Boris when he was elected – which will stand her in good stead.”

Lloyds Banking Group chief executive Eric Daniels was unapologetic about the large interest rates and charges applied to authorised customer overdrafts while giving evidence to MPs on the Treasury Select Committee this morning.

The hearing was part of the Committee’s inquiry into competition and choice in the retail banking sector.

According to the Bank of England’s monthly statistics on quoted interest rates, in October the average interest rate on overdrafts stood at 19.09%.

Mr Daniels was asked by Labour MP Chuka Umunna how he could “possibly justify” charging 38 times the Bank of England base rate in overdraft, and in response said:

“By and large overdrafts are a very low return product. They are not something that we make a lot of money from. We use the product as a service to our customers, but it’s not necessarily something that we would greatly enjoy – in other words, it’s not a high return product.”

Lloyds Banking Group Executive Directer Helen Weir, who was also giving evidence, when asked by Mr Umunna whether

When Mr Umunna put it to the bank bosses that customers felt ripped off by the charges, Lloyds Banking Group Executive Directer Helen Weir said that “it is not a product that delivers excessive returns”, but went on to confirm that they are “profitable”.

Commenting after the hearing, Mr Umunna said: “It is outrageous that ordinary customers are being required to pay such high rates on overdrafts when the Bank of England base rate remains at a record low.

“It is clear that banks are making profits from overdrafts, and the government needs to do more to ensure that banks treat consumers fairly, particularly given the taxpayer’s stake in the UK’s leading banks.”

Chuka’s expense claims, along with all Members of Parlaiament, have been published online this week by the Independent Parliamentary Standards Authority. To view details, please follow this link.

Commenting, a spokesman for the Office of Chuka Umunna MP said:

“One of Chuka’s key election pledges was to open an office in the heart of the constituency and he was elected in May on this promise. Since then, he has become the first ever MP for Streatham to have an office here, bringing the area’s representative to people’s doorstep and helping us work closely with local schools, businesses, voluntary organisations and community groups.

“Our constituency has more challenging social problems than many others and will be hit disproportionately hard by this government’s cuts. Inevitably, this will increase our workload as the cuts begin to bite and it is right that the area’s MP should be able to provide constituents who are affected with assistance and representation.”

Help with heating bills

In the current cold snap, millions of people are missing out on free help with their energy bills. According to recent research, as many as 5.2 million households across the UK could claim free insulation grants and reduced energy bills from their suppliers.

The range of help available includes grants for cavity wall and loft insulation, reduced energy tariffs, flexible payment schemes. If you think you could be missing out, the Home Heat Helpline on 0800 336699 provides free advice on the help which is available or visit the Home Heat Helpline website

Transport situation

I have been in contact with the constituency’s major train operators about the terrible disruption we’ve all been experiencing – I am urging them to do all they can to bring services back to normal for you as soon as possible.

Southern, which operates services from Streatham, Streatham Hill, Streatham Common, Balham and Tulse Hill stations is operating a revised timetable.

Currently, a half-hourly service is running in each direction at Streatham Hill, Balham and Streatham Common to and from Victoria but Southern services from Streatham and Tulse Hill stations are currently suspended.
There are currently no First Capital Connect services from Streatham or Tulse Hill stations.
For further updates on the transport situation before you travel, please visit www.southernrailway.com, www.firstcapitalconnect.co.uk and www.tfl.gov.uk

Winter fuel allowance

Winter fuel payment is available to those aged over sixty and provides between £125 and £400 depending on your situation to help with energy bills during the winter months. For an application form to claim the payment, please follow this link.

Cold weather payments

Cold weather payments of £25 are triggered by periods of very cold weather like the cold snap we are currently going through, and are paid to those in receipt of certain benefits including those receiving jobseekers’ allowance or income support with a child under five or pension credits. To find out whether you are eligible, please visit the DirectGov Cold Weather Payments page.

I hope you find the above useful.

Warmest wishes,

Chuka

Chuka Umunna MP