Financial Services Bill

Debate between Baroness Kramer and Lord Lucas

Wednesday 25th July 2012 Lords Chamber

[Lord Lucas]

My Lords, all of us in this House wish for that sort of reply from my noble friend, although some of us are not so lucky. I am sorry that the noble Lord, Lord Peston, was not present to hear that so that his scepticism on this matter might have been calmed. It was indeed an excellent reply from my noble friend and I very much hope that my colleagues will be able to take advantage of it.

Perhaps I may draw my noble friend’s attention to an organisation called lendwithcare.org, which is an excellent example of how to do things right in this area. It is concentrating on micro-lending in the third world but the pattern it follows would fit very well the sort of projects that my noble friend Lady Kramer and others have outlined. It takes proper steps to make it absolutely clear to those who lend that there is a serious chance that they will never get back any money. That is crucial. There is far too much opportunity here to induce in those who sell something as a loan the idea that they have a reasonable chance of getting their money back, and that can be very dangerous in unregulated investment.

[Baroness Kramer]

I join in thanking the Minister for a very positive reply. It sounds as though we have real hope of making progress in this area. I very much appreciate the process that the Government have gone through to get to this point.

I also appreciate the comments of my noble friend Lord Phillips. I read into them that, with his legal-eagle mind, he and some of his colleagues may now be turning to this clause and to this area of the legislation to work out an amendment which, if properly drafted, could both address the issues which I, together with my noble friends Lord Hodgson and Lord Phillips and others, have raised and cover the absolutely fair and relevant point made by the Minister, which is that we have no wish to expose people to scams or to create an opportunity for this to be used as a back door to taking unfair advantage. That is extremely important.

Feeling very positive about all these issues, I beg leave to withdraw the amendment and I look forward to the summer discussions.

Transport for London (Supplemental Toll Provisions) Bill [HL]

Debate between Baroness Kramer and Lord Lucas

Wednesday 29th June 2011 Lords Chamber

[Lord Lucas]

My Lords, I am very grateful to the noble Baroness for so eloquently moving the Motion that the Bill do now pass and for any influence that she might have had in securing the amendments that she described. I am quite content with the Bill as it is now, partly because TfL is a much more benign institution under current management than it was. Where it finds levels of misbehaviour, it seems interested not in immediately slapping down fines but in exploring the reasons for it, amending signage and handing out warning notices beforehand. I find it a civilised and easier-to-deal-with institution these days. I am also comforted by the level to which the Secretary of State will be involved in granting TfL any substantial powers under the Bill. I thank the noble Baroness and Transport for London, and wish this Bill good luck.

[Baroness Kramer]

I shall be brief in my comments on the Bill. I was a member of the board of Transport for London when the congestion charge was brought in and chaired all the public meetings on that issue. I have been an open opponent of the Thames Gateway Bridge, so am very glad that that project has been scuttled.

I should like to ask two questions about the Bill, just by way of seeking confirmation. Do all the usual processes of planning, consultation and approval remain in place, even though this mechanism provides the funding for any new river crossing that might be tolled? Secondly, could this framework apply to other projects carried out by Transport for London? For example—since we have had many discussions on air quality—if there were to be a low-emissions zone and it was decided to toll cars that did not meet the relevant emissions standard as they entered the zone, could this framework again be used for that purpose? It is a framework that London might turn to, particularly at the time of the Olympics. Although I seek confirmation on those matters, I am very supportive of the Bill.