Business of the House

Debate between Baroness Noakes and Lord Myners

Thursday 4th April 2019 Lords Chamber

[Baroness Noakes]

I am not entirely uncritical of the Prime Minister, and in particular of her handling of Brexit. Anybody who has heard me speak before will know that.

[Lord Myners (CB)]

I do not wish to quote the Prime Minister to embarrass her, but to remind colleagues in the House that the Prime Minister has, perhaps belatedly, recognised that there is a need to reach across and hear the views of others to facilitate a consensus in what most of us would agree is a moment of crisis. That is not a word I use frequently, but we are in the eye of the storm and I would like this House to be seen to be playing its role in taking things forward and facilitating agreement on a strategy.

The debate of the noble Lord, Lord Forsyth, is on a matter of considerable importance. Nobody who suggests that it might properly be delayed until early next week should be accused of, in some way, belittling the issues involved. The nation is now genuinely looking to this House to have a mature and proper debate on a matter of great importance. It reflects badly on the House and the institution if we are seen to become besotted with procedure, thereby denying the vital need to address the issue. We will not address the issue until we move on from matters of process to matters of substance.

[Baroness Noakes]

Indeed, but there are important issues of process that we do need to address. I was saying that the Prime Minister had not always made a success of Brexit to date, but she has been persistent throughout in trying to achieve the will of the majority, the 17.4 million people who voted to leave in the referendum, and we have to give her credit for that. She has also acted throughout with integrity, and I hope that no noble Lord would suggest otherwise. In some ways, the Bill suggests that we cannot trust the Prime Minister, and I resent that.

As the noble Lord, Lord Myners, pointed out, the Prime Minister has now engaged in discussions with the Opposition. We understand that they are constructive; whether anything comes of them remains to be seen. To date, the Leader of the Opposition has shown no interest in doing anything other than pursuing a political line on Brexit. He even refused to go into cross-party discussions which my right honourable friend set up last month because he could not walk into the same room as Chuka Umunna, one of the MPs who had left his party and was a founder member of the independent group—the TIGers. It is of great credit to the Prime Minister that she is now reaching out to try and reach some consensus on a deal that the Commons can align around when it goes back to them. This Bill is saying that we do not trust the Prime Minister to do that. That is an unfortunate thing, and why the Bill is unnecessary.

The next reason for not agreeing with the Motion in the name of the noble Baroness, Lady Hayter, is that it is unnecessary to apply exceptional procedures. Your Lordships’ House has good procedures to allow it to do its job as a revising Chamber. The House normally prides itself on its ability to scrutinise legislation carefully. The reason we do this—

Bank of England and Financial Services Bill [HL]

Debate between Baroness Noakes and Lord Myners

Tuesday 15th December 2015 Lords Chamber

[Lord Myners]

My Lords, I also congratulate the Minister and the parties involved on finding a pragmatic and workable solution to a problem identified in earlier discussion in this House. I also echo the point made by the noble Lords, Lord Higgins and Lord McFall. Proposed new Section 7E starts:

“The Bank and the Comptroller must prepare and maintain a memorandum of understanding”.

There is no mention of the word “publication”, yet in proposed new subsection (2)(d) “publication” is used. On the face of it, the absence of “publication” from the beginning of the section is intentional. As such, that surely should be unacceptable. I therefore urge the Minister at some later stage to persuade his colleagues in the other place that “publication” should be included, and to give this House some reassurance now that it is his intention that the memorandum of understanding should be published. Otherwise, the public will not have the confidence that they seek in clarifying this issue.

[Baroness Noakes (Con)]

My Lords, the Comptroller and Auditor-General and the National Audit Office are in agreement with this, but I would like to clarify the effect of proposed new Section 7E(2)(d). It allows for the publication of views where a matter in dispute cannot be resolved. That implies that there would be no agreement as to whether a particular audit could take place. That allows the Bank of England a backdoor power of veto if the arrangements are such that there is a possibility that even a dispute resolution procedure, as provided for under proposed new paragraph (c), results in there not being agreement. Therefore, is it possible that the Bank could de facto operate a veto?

Financial Services Bill

Debate between Baroness Noakes and Lord Myners

Monday 11th June 2012 Lords Chamber

[Baroness Noakes]

My Lords, it is a great pleasure to be in complete agreement with the noble Lord, Lord Foulkes, which is not an occasion I find often to celebrate.

Having been in his position for many years, I understand completely the noble Lord, Lord Eatwell, who expressed earlier his view that we could have a more intimate discussion about issues with the Minister in Grand Committee. Equally, when I was in his position, I always took the view that Bills of major significance, which this one is, should be considered in the Chamber.

There is a particular reason for that. When a lot of issues have to be debated and decided, the only time you can divide in Committee is when a Bill is considered by the whole House, not in Grand Committee. In Grand Committee you have one fundamental opportunity to test the opinion of the House, which is on Report because there is a restricted ability to test matters at Third Reading. So for a Bill like this, with quite a lot of issues, it would be much better for the whole House to consider them so that we can settle them in Committee. Otherwise we will have one of those invidious things where we have to consider how many issues we can deal with by 7.30 in the evening before people go away. You have to take things over from Grand Committee to the whole House on Report.

This Bill is very significant and covers many issues. That has been reflected in our debate over the past seven hours or so. It is our responsibility as a revising Chamber to do this in the proper way by considering it not in Grand Committee but by the whole House.

[Lord Myners]

My Lords, I rise briefly to add my support to the views expressed by the previous speakers. There are significant issues in this Bill which require attention. They are not issues that divide on party political lines, and it is clear from today’s debate that there is a wealth of information and understanding in the House. Having previously taken legislation through Committee both in the House when I was a Minister and in Grand Committee, I have no doubt that this Bill should be appropriately considered by the whole House in order to be able fully to draw upon the knowledge and expertise of your Lordships. I would enjoin the Minister to withdraw the Motion that the Bill be taken in Grand Committee in order to allow further time for discussions through the usual channels—taking into account the views which have been expressed this evening from all sides of the House.

Budget Responsibility and National Audit Bill [HL]

Debate between Baroness Noakes and Lord Myners

Monday 6th December 2010 Grand Committee

[Lord Myners]

Further forecasts on the economy are made in government. I believe that the Department for Business also produces its own economic forecasts. Almost as many forecasts are produced in government as are produced in the private sector.

The noble Lord, Lord Higgins, makes an important point. This might not be the right forum in which to discuss this, but the balance of intent behind the decisions currently being made by the Monetary Policy Committee is more focused on the words that come after “and subject to that” in its remit than on controlling inflation—that is to say that, in an environment in which fiscal policy is reducing demand in the economy, the onus for sustaining demand is coming from monetary policy, with considerable risk, in my judgment, of inflation.

There is no recognition in the Keynesian thinking of this document about the importance of monetary policy. We have what the Americans call a saltwater analysis of economics rather than the freshwater or Chicago school analysis associated with the monetarist view. It will be interesting to hear the Minister’s view on where monetary policy comes into the OBR’s thinking.

[Baroness Noakes]

But not today.

--- Later in debate ---

[Lord Myners]

I am not sure that the answer is entirely satisfactory. The Chancellor described this as an audit. He went beyond the language used by the OBR. We are asking the Minister of the Crown, based in the Treasury, to give us a sense of how this scrutiny was conducted. I am beginning to feel that the Minister does not know the answer. If that is the case, it would be helpful if he said, “I have no idea how this was scrutinised”, after which the Committee could form its own view.

[Baroness Noakes]

My Lords, the Opposition are getting overexcited this afternoon. The small phrase in the announcement made by my right honourable friend the Chancellor that there has been an audit of the AME savings is being considerably overinterpreted. As my noble friend suggested, it would be helpful if Mr Robert Chote were asked to say how he conducts this aspect of his work. I am sure that if there are then further questions that noble Lords wish to raise, they will be able to. It would be helpful if my noble friend references any material that is already publicly available. However, it is not reasonable to go beyond that this afternoon.