17:00 Sir Peter Bottomley (Worthing West) (Con)

I am pleased that the right hon. Member for Kingston and Surbiton (Mr Davey), who is also the Secretary of State for Energy and Climate Change, and I had meetings with the OFT that have led to the decision this week to investigate. There is more to come. Bluntly, it is wrong that were I a convicted fraudster who came out of jail yesterday, I could set up as a managing agent today without having to meet necessary and obvious standards. Such standards are not just for those who live in big flats on the Thames—those with lawyers and expensive flats—but for small people who cannot get anything other than a leasehold property of their own in which to live, hopefully without undue cost.

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