Prime Minister: Meeting with Prime Minister of Canada

Debate between Baroness Chapman of Darlington and Baroness Altmann

Wednesday 12th March 2025 Lords Chamber

[Baroness Chapman of Darlington (Lab)]

Canada is a very close ally of the UK in defence, security and intelligence. I am sure that, when the Prime Minister meets Mark Carney, they will discuss in some depth the issues that my noble friend raises since, as many noble Lords have mentioned, this relationship is now more important than ever.

[Baroness Altmann (Non-Afl)]

Canada and Canadians feel more alone than ever right now. Does the Minister agree that Canada is not just a friend or ally but part of a family that we are supposed to belong to? The President of the United States has used, if you will forgive the expression, trumped-up charges—completely specious reasons—for imposing these tariffs on Canada. That country is under attack. Talking to people in Canada, it seems there is a real risk that they feel abandoned by us. They may be considering abolishing ties with the monarchy and even leaving the Commonwealth. What are we and our Commonwealth partners doing to support Canada when it is under such attack?

[Baroness Chapman of Darlington (Lab)]

We are close friends, allies and family members inside the Commonwealth with Canada, as the noble Baroness quite rightly reminds us. That closeness is unshakable. It is for the people of Canada to decide what they wish to do in terms of their sovereignty and all those issues, and we respect that, but there is no need for Canada to feel isolated. It will always have a strong friend, ally and family member in the United Kingdom.

Financial Services and Markets Bill

Debate between Baroness Chapman of Darlington and Baroness Altmann

Report stage
Tuesday 6th June 2023 Lords Chamber

[Baroness Altmann (Con)]

My Lords, I support all the work that the noble Lord, Lord Tyrie, has put into this amendment. He has worked for so many years and has so much knowledge on this subject. If my noble friend cannot accept the amendment today, I urge her to come back at Third Reading if possible, perhaps with the Government’s own proposals for at least a consultation, which would be a reasonable compromise. There is a strength of feeling on this issue.

As the noble Lord said, the FCA has already been clipping the RDC’s wings. We can see dangers and that there is huge support for proper independence on a statutory basis. We do not want the City to become an oligopoly; we need to protect some of these smaller firms for healthy competition. What is the Government’s objection to this proposal?

[Baroness Chapman of Darlington (Lab)]

My Lords, we commend the noble Lord, Lord Tyrie, on his amendment and on using it to raise important questions. We understand that concerns have been raised about the perceived watering down of the RDC’s role within the FCA. While we know that the Government respect the operational independence of the FCA, we hope that the Minister is able to say something about the regulator’s recent decisions on the RDC, which are causing substantial concern.

The FCA believes that the current balance of responsibilities is correct and that the recent reforms were necessary to ensure quicker decision-making. However, it would help if the Minister could outline what steps, if any, the Treasury might take in future, should it come to the view, if it has not today, that the system is not quite working in the way that it should.