Financial Reporting Council: Annual Reports and Accounts
Debate between Baroness Wilcox and Lord Broers(13 years, 10 months ago)
Lords ChamberRead Full debate Read Hansard Text
Baroness Wilcox
That is a little wide of the Question and I do not have the information with me. As I said, we are having a wide-ranging discussion ourselves and will report back at the end of March. I have no doubt that there will be a reference to it there.
Lord Broers
Does the Minister agree with me that if somebody is trying to hide something in a long document, it is far, far easier to find it by searching a digital document than by paging through pages and pages?
Baroness Wilcox
My Lords, that is a fine engineering suggestion and I am absolutely sure that some would agree with the noble Lord on it. However, there are others who still prefer to clutch a piece of paper—as I am doing—for safety’s sake.
Design
Debate between Baroness Wilcox and Lord Broers(13 years, 10 months ago)
Lords ChamberRead Full debate Read Hansard Text
Baroness Wilcox
I think that the noble Baroness is referring to the work of the Commission for Architecture and the Built Environment. We recognise that good design of living environments can greatly enhance the quality of life for inhabitants. Following the decision by DCMS to withdraw funding from CABE, we are actively considering future arrangements for delivering its functions. An announcement is imminent.
Lord Broers
Does the Minister agree that, in many areas, design and engineering are inseparable? It seems strange to me that they have been separated in terms of university funding. Will she ensure that design plays an integral part in the new technology innovation centres?
Baroness Wilcox
Yes, I agree that design plays an integral part in pretty well all aspects of our lives. That is as far as I can go in answering the noble Lord’s question at this time.
Public Expenditure: Investment in Science
Debate between Baroness Wilcox and Lord Broers
Baroness Wilcox
I thank my noble friend for his support and encouragement. Of course, the Haldane principle, which is already established, is very important to us.
On the announcements by my right honourable friend in another place, which he hopes and predicts he will be able to make, unfortunately I can say nothing about them at this stage. Like my noble friend, however, I hope that these investments will go ahead.
Lord Broers
My Lords, I declare my interest as chairman of Diamond Light Source, and expenditure there will certainly be very beneficial. While the Minister has mentioned capital expenditures and the cuts, will she give us an idea of whether the Government will try to recover these capital expenditures before the four years of the CSR are up? These 50 per cent cuts in capital that have been handed to the research councils will progressively deplete our equipment and reduce our competitiveness.
Baroness Wilcox
My Lords, the questions of the noble Lord, Lord Broers, always leave me slightly gasping because he is such an expert engineer and has such experience in the field. He must know that all we can say at the moment is where we are and what we hope to achieve in the next four years. I can say no more on this subject at the moment.
Economy: Growth
Debate between Baroness Wilcox and Lord Broers
Baroness Wilcox
We are looking across the whole of the manufacturing sector and, in the next few days, we shall bring out a manufacturing strategy to ensure that we are taking our country forward in all areas and at all levels. Of course, the previous Government had some great successes—they should have done; they were in power long enough.
Lord Broers
My Lords, when does the Minister think that we will stop our slide down the manufacturing table? I know our output is up but, if she checks the numbers, I think she will find that we are not in fact in sixth position, but in seventh position. I checked that again this morning. The OECD numbers show that we are some 9 per cent behind France, which is in sixth position, and we are 20 per cent behind Italy, which is in fifth position. I am encouraged by what is happening, but I ask the Minister to assure us that this slide will be stopped. Brazil and Korea are snapping at our heels and we will soon be in ninth position unless we do something about it.
Baroness Wilcox
My Lords, obviously, we are delighted with any signs of growth and of going forward. The figures read out by the noble Lord are not encouraging, but that does not mean to say that we do not have to try to do the best we can. We know, for example, that advanced manufacturing growth is very important for us, and a review will be out very soon. We are reviewing all the areas in which we can find any growth at all, and I am sure that the noble Lord, fine engineer that he is, will help us in any way he can to encourage us in areas from which he thinks growth will come.
Sheffield Forgemasters
Debate between Baroness Wilcox and Lord Broers
Baroness Wilcox
There is no doubt about it: I shall have to answer again and again that this decision was taken on grounds of affordability. Nobody would argue that Sheffield Forgemasters is not an excellent example of a successful British manufacturing company. The Government wholeheartedly support what the company does and I place on the record our recognition of its excellent work. Once again, I tell noble Lords that the only reason why we took the decision was affordability and we had to take that decision because of the condition that the previous Government left us in financially.
Lord Broers
My Lords, in light of the fact that it is largely German and Danish companies that will build the hugely expensive offshore wind turbines, do the Government not think that they should do more to ensure that the same thing does not happen with regard to nuclear power plants?