Lord Strathclyde
My Lords, there is plenty of time for both noble Lords to speak. Let us hear from the noble Lord from the Cross Benches.
Lord Elystan-Morgan
My Lords, is it not the case that the whole economic and financial landscape has changed so fundamentally over the past 30 years that a rough and ready yardstick of calculation, as it was then, now becomes something utterly inequitable; and that if there is no radical change, parts of the United Kingdom, such as the land and nation of Wales, will suffer the perpetuation of this inequity? Is it therefore a matter not of waiting for events to happen but of radically tackling a massive injustice?
Lord Strathclyde
My Lords, this always works very well when we take it in turns. Could the noble Lord, Lord Peston, sit down?
Lord Strathclyde
My Lords, we cannot both stand up at the same time. I think that I have the Floor. The noble Lord, Lord Oakeshott, should be given an opportunity to speak.