Future of Financial Services

Baroness Hayman Excerpts

Wednesday 11th November 2020 Lords Chamber

[Baroness Hayman (CB) [V]]

My Lords, I declare my interest as co-chair of Peers for the Planet. I very much welcome the emphasis in the Statement on green recovery and the ambition to lead the world in green finance. I have a couple of questions on TCFD and the decision to mandate climate disclosures. Could the Government not be a little bit more ambitious on the 2025 deadline, given the number of companies that are already taking on these responsibilities and have acted on disclosure? In the run-up to COP 26, will the Government take this as an exemplar and persuade other countries to act in a similar fashion so that we can have an even playing field across countries?

[Lord Agnew of Oulton (Con)]

The noble Baroness asks important questions. I certainly take on board her desire to try to accelerate the mandatory implementation date. I will feed that back to the Chancellor and see if it can be done. It is always a matter of balance between doing these things too quickly and being slow-footed. The TCFD is a key component of our international efforts at the G7, which we are hosting, the G20, COP 26, which the noble Baroness mentioned, and the Coalition of Finance Ministers for Climate Action. Making this announcement will mean that we can set this as an example for other countries to emulate and harmonise approaches on disclosure.

House of Lords: Number of Members

Baroness Hayman Excerpts

Wednesday 16th September 2020 Lords Chamber

[Lord True (Con)]

No, my Lords. The cardinal facts of this House—which is unique, and that is one of its splendours—are that it is unelected, its Members sit for life and it cannot be dissolved. In those circumstances, the question of a cap raises profound constitutional questions, which, as the previous Prime Minister said, deserve reflection.

[Baroness Hayman (CB) [V]]

My Lords, when numbers in your Lordships’ House go up, public respect for the House goes down. The Minister said that the previous Prime Minister did not endorse a cap on the size of the House, and that is quite correct, but she did commit to restraint in appointments. Given how seriously the House takes the issue of reducing numbers, can the Minister tell me what conversations the noble Baroness the Leader of the House—the whole House—has had with colleagues in the House, with the leaders and the Convenor, and with her right honourable friend the Prime Minister, about this issue? If he does not have that information to hand, perhaps he could write to me.

[Lord True (Con)]

My Lords, as that question is about the Leader of the House, I think that she would have to address it herself. So far as the numbers are concerned, I dispute that there is any correlation between the size of the House and the respect in which it is held. I remember the very great respect in which the House was held before 1999.

Income Equality and Sustainability

Baroness Hayman Excerpts

Wednesday 6th May 2020 Lords Chamber

[Baroness Hayman (CB)]

My Lords, this crisis has made us reflect on what matters to us and on who matters to us—the people we love and cannot be with, but also the strangers on whose courage, compassion and service we as a country have depended literally for our survival. We frequently express our gratitude to these people in words. After this, we need to express it in deeds, in reality, in changes and in a fairer system of income and taxation. However, we also owe it to the generations that come after us to be fairer. When we rebuild our economy, we need to do so in a way that is sustainable. We need to look at a greener future, with an economy that does not pollute or endanger the future of the world in the same way.

Today, the Committee on Climate Change has written to the Prime Minister setting out six key principles for rebuilding an economy that is stronger, cleaner and more resilient for the future—not a hair-shirt economy but one from which we can benefit as a community. Will the Minister assure me today that those recommendations will be taken very seriously?

House of Lords: Membership

Baroness Hayman Excerpts

Tuesday 5th May 2020 Lords Chamber

[Lord True]

My Lords, I certainly agree with the point on scrutiny. The Government have made it very clear that they do not consider piecemeal reform of this House to be sensible. However, I repeat that there is no substance in this story. I am not sure whether it was a case of the ill informed meeting the inventive or perhaps one or the other, but I repeat that it is not government policy.

[Baroness Hayman (CB)]

My Lords, reducing the size of the House is obviously not a priority for the moment but it is something that we need to do. Will the Minister confirm that the Government will consider putting a cap on the size of the House, allowing its numbers to be reduced along the lines of the Burns report? However, as other noble Lords have said, the priority now is surely to enhance and increase both the scale and the effectiveness of the scrutiny that we as a House can bring to the conduct of the Government during the current crisis. Are there plans to expand the role and function of the House from their limited forms at the moment?

[Lord True]

My Lords, I welcome scrutiny and think that it is vital for a democracy. Obviously, the arrangements made by the authorities of the House are beyond my remit; I am here to answer for the Government. The Government do not currently intend to put a cap on the size of the House; indeed, their position is that from time to time the House will need refreshing. That has always been the position; it has never been a static House.

EU: Negotiations

Baroness Hayman Excerpts

Tuesday 17th March 2020 Lords Chamber

[Lord True]

My Lords, I have a good deal of sympathy with what my noble friend said.

[Baroness Hayman (CB)]

My Lords, the Minister talked about the ongoing discussions and the coronavirus emergency in his Answer. Could he tell the House what discussions are going on about relationships with the European Medicines Agency? I hope that we will have new vaccines and new medicines, which need a speedy, combined and accepted recognition and licensing process. It would be a great shame, since we no longer have the European Medicines Agency here, if we were not in the closest co-operation with it over this very urgent matter.

[Lord True]

My Lords, this is a global challenge; Her Majesty’s Government are in contact with Governments around the world on the best methods of dealing with coronavirus.