British Business Bank
Baroness Caine of Kentish Town Excerpts(2 weeks, 3 days ago)
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Baroness Lloyd of Effra (Lab)
I may have to come back on those precise questions. The British Business Bank produces annual reports and has recently published an impact report which addresses some of the questions that the noble Lord specifically asks around job creation. That is an important aspect of its accountability for the funding it gets.
Baroness Caine of Kentish Town (Lab)
My Lords, the creative industries is a priority sector for the modern industrial strategy but not for the National Wealth Fund, as business structures seem to be better fitted to investment from the British Business Bank. Can my noble friend provide reassurance that the bank has the expertise and criteria that fit businesses such as those in the creative industries whose value lies in intellectual property, particularly while its protection is currently uncertain? In due course, can she share the comparative levels of investment made in the last two years in the key growth sectors?
Baroness Lloyd of Effra (Lab)
My noble friend is right to mention consistency with the industrial strategy. It was only in October last year that the Government gave the British Business Bank a new mandate, including to align with the industrial strategy’s priority sectors and making available £4 billion to support those areas. In setting out the priority sectors, the Government have outlined ways in which they expect the British Business Bank to meet that—for example, using specialist fund managers or tailored approaches for the specific financing and other requirements of those subsectors. Creative UK has committed to providing a single gateway to help those creative industries that need access to finance to navigate between the various sources of finance available from the Government.
International Women’s Day
Baroness Caine of Kentish Town Excerpts(2 weeks, 6 days ago)
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Baroness Caine of Kentish Town (Lab)
My ladies and Lords, it is a pleasure and a privilege to welcome my noble friend Lady MacLeod of Camusdarach and congratulate her on an excellent maiden speech. It vividly described her cultural background and journey to the Lords from Glencoe and made clear her determination to effect greater mutual understanding and respect between these corridors in Westminster and the Highlands.
Torcuil Crichton, the Western Isles MP, said of her appointment to this place that
“for many years she has given voice to other people ... Now it is time to hear her own voice”.
Her own voice is of a highly respected, honest, articulate, positive and politically committed woman, with a very different Highland background from those from there who up till now have sat on these Benches.
What of the years when she gave voice to other people? A talented editor and journalist, she is best known for her work as Alistair Darling’s spad. My noble friends Lady Nye and Lady Hunter worked with her during those times. They describe her as
“a really loyal and politically astute advisor and as the rock that Alastair depended on during the difficult and tumultuous times of the global economic crisis in 2007”.
I know that Scottish noble Lords will concur that she commands affection and respect for that work, and within Scottish Labour ranks for playing a key role in keeping the Scottish Labour flame alive in the darkest days after the 2014 independence referendum, in which she worked tirelessly to support keeping the union. All these and more are reasons why a recent Sunday Times interview noted that her ennoblement has been lauded as a significant asset in this upper House, something that I fully concur with. I am sure that, like me, noble Baronesses and Lords across the House will join me in welcoming her, and that we all look forward to hearing much more from her as she goes forward in this House.
I turn to the debate and to one of my noble friend’s countrymen. In 1558, John Knox published his polemic work, The First Blast of the Trumpet Against the Monstrous Regiment of Women. He argued that rule by women was unnatural, that men were suited to leadership and women to obedience, and that women ruling would bring chaos, conflict and ruin. His thoughts appear to have had some influence in this place, with membership of the House of Lords down the centuries being strictly male and overwhelmingly hereditary. With support from the Lords spiritual and the Law Lords, they ensured that women were barred from sitting in this place until the passing of the Life Peerages Act 1958, a full 50 years after women from all walks of life were allowed to stand as MPs.
Barbara Wootton, a renowned academic who sponsored the successful Bill to abolish capital punishment in the 1960s, and Stella Isaacs, founder of the Women’s Voluntary Service, were the first women to be sworn in on 21 October 1958, with three others joining them to see out the 1950s. Sitting alongside 900 men, they made 0.5% of the total. Let us hear it for them.
Now, in this decade of the 2020s, I can say—with thanks to the wonderful Lords Library—that up to 4 March 2026, 95 Baronesses have been appointed alongside 147 Lords, bringing the total ever appointed to this place over eight decades to 405, with the position today being 588 men and 283 women, 34.5% of the total. In addition, the excellent Leader of our House and Deputy Chief Whip are women, and there are many highly talented and hard-working others serving on the Front Benches as Ministers and Whips. So we have made significant progress, but there is still much more to do, particularly in relation to diversity.
However, if John Knox is looking down on us today, he will see me blasting my trumpet with pride with all my fellow baronesses, past and present. In my view, it is a magnificent regiment of women who have brought wisdom and expertise to the service of our country. I would give an extra toot to the noble Baroness, Lady MacLeod, and the three other baronesses making their maiden speeches this day. May we celebrate today and always remember to use the privileged positions we hold, as we have heard today, to improve the lives of girls and women from all backgrounds in this country and internationally—both now and in the future.