Business of the House

Baroness Smith of Basildon Excerpts

Wednesday 8th January 2025 Lords Chamber

Moved by

[Baroness Smith of Basildon]

That, in the event of the Financial Assistance to Ukraine Bill having been brought from the House of Commons, Standing Order 44 (No two stages of a Bill to be taken on one day) be dispensed with on Wednesday 15 January to allow the Bill to be taken through its remaining stages that day.

[The Lord Privy Seal (Baroness Smith of Basildon) (Lab)]

My Lords, I beg to move the Motion standing in my name on the Order Paper.

[Lord Blencathra (Con)]

My Lords, I rise simply to seek assurance from the noble Baroness the Leader of the House that we can table amendments to this Bill when we consider it next Wednesday. The Bill asks us to provide taxpayers’ money to assist Ukraine. I entirely support that, as it is vital that Putin does not win. However, the West has immobilised about $300 billion of Russian assets, including about €210 billion immobilised in Europe. The United Kingdom has frozen about £18 billion of assets, and I understand that the United States has frozen only a few billion dollars. Nevertheless, the United States and Canada have passed legislation permitting their Governments, should they wish, to utilise those former frozen Russian assets for the reconstruction of Ukraine. The US legislation is called REPO: rebuilding economic prosperity and opportunity for Ukraine.

Last year the Parliamentary Assembly of the Council of Europe unanimously adopted a resolution calling on each state that holds Russian assets to co-operate in the transfer of those assets to an international mechanism to compensate Ukraine for the losses it has suffered. The United Kingdom Government—the previous Government and this one—have consistently said it is clear that Russia must be held responsible for its illegal war. That includes its obligations under international law to pay for the damage it has caused in Ukraine.

I simply want to table a very straightforward and short amendment to the Bill, giving the United Kingdom Government the same powers that Canada and the United States have taken—namely, after the words “money provided by Parliament”, to add, “or out of any assets, reserves or any other property held within the jurisdiction of the United Kingdom, directly or indirectly, by, for or on behalf of the Russian Federation”. I say to the noble Baroness and to the House that it is a simple permissive power. It does not force the Government to do it if they do not want to, but it would give us the same power to utilise those frozen Russian assets. I simply ask the noble Baroness whether it would be possible for me or any other noble Lord to table an amendment such as that to the Bill next Wednesday.

[Baroness Smith of Basildon (Lab)]

My Lords, the noble Lord is an experienced parliamentarian. He may be confusing the two Houses. This is a money Bill and the procedure in this House is that there are no amending stages on the Bill. It has already been debated in the other place, so when it comes to this House there will be no opportunity to table amendments.

Motion agreed.