The Minister of State, Ministry of Defence (Earl Howe) (Con)
My Lords, we have time for both speakers who have been on their feet. We shall start with the Conservative Benches and then go over to the Labour Benches.
Lord Tugendhat
My Lords, does my noble friend the Minister agree that the range and diversity of markets and services in the City of London, and the extent to which overseas institutions participate in them, means that it would be very difficult to produce a paper of the sort that the noble Baroness opposite has demanded without going into a gross oversimplification, and that it would be much better—as my noble friend Lord Lamont said—to allow these negotiations to progress?