Future of Financial Services

Debate between Lord Agnew of Oulton and Lord McNicol of West Kilbride

Wednesday 11th November 2020 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, I am not involved in the intricacies of the trade discussions between the US and ourselves. There is a very simple principle with any trade agreement: the more you try to agree in one go, the harder it is. If you include something as complex as financial services, then it will be very difficult. I am sure that that is why the EU has still not been able to negotiate its own deal with the US. However, we will continue to engage with it as practically as we can.

[The Deputy Speaker (Lord McNicol of West Kilbride) (Lab)]

My Lords, that is all we have time for in the 20 minutes.

Finance Bill

Debate between Lord Agnew of Oulton and Lord McNicol of West Kilbride

2nd reading & Committee negatived & 3rd reading & 2nd reading (Hansard) & 2nd reading (Hansard): House of Lords & 3rd reading (Hansard) & 3rd reading (Hansard): House of Lords & Committee negatived (Hansard) & Committee negatived (Hansard): House of Lords
Friday 17th July 2020 Lords Chamber

[The Minister of State, Cabinet Office and the Treasury (Lord Agnew of Oulton) (Con)]

My Lords, with the leave of the House I will also speak to the remaining Motion standing in my name on the Order Paper.

[The Deputy Speaker (Lord McNicol of West Kilbride) (Lab)]

The question is that the Bill be now read a second time. I call the next speaker: the noble Lord, Lord Livermore.

Covid-19: Economic Package

Debate between Lord Agnew of Oulton and Lord McNicol of West Kilbride

Wednesday 13th May 2020 Lords Chamber

[Lord Agnew of Oulton]

My Lords, the newly announced Self-employed Income Support Scheme, which opened today, will be kept open as long as it is needed. That is what we have said all along: we will do what is needed. We need to see how successful it is and how many people it gets to. I am not aware of any advanced thinking on a pay freeze on the public sector or any other measures. As my right honourable friend said yesterday, it is too early for us to be looking at these measures. We need to get through this stage of the crisis. On the noble Baroness’s third question, we have been increasing the number of lenders available on all schemes since they opened. I am sure that this will continue.

[The Deputy Speaker (Lord McNicol of West Kilbride) (Lab)]

I remind all noble Lords to please ask brief questions.

--- Later in debate ---

[Lord Agnew of Oulton]

My Lords, my right honourable friend in his Statement yesterday extended the existing terms of the furlough scheme until the end of July. I think we will have better knowledge of the disease and our ability to contain it by then, but I take on board the noble Lord’s comments and I will take them back to my colleagues in the Treasury.

[The Deputy Speaker]

My Lords, the time allotted for the Statement is now up. Today’s Virtual Proceedings are complete and are adjourned. Good night.

European Union (Withdrawal Agreement) Bill

Debate between Lord Agnew of Oulton and Lord McNicol of West Kilbride

Committee: 3rd sitting (Hansard continued) & Committee stage & Committee: 3rd sitting (Hansard continued): House of Lords
Thursday 16th January 2020 Lords Chamber

[Lord McNicol of West Kilbride (Lab)]

My Lords, I am grateful to the noble Lord, Lord Storey, for tabling Amendment 38 and affording me the opportunity to probe the Government’s intentions with regard to excellent Erasmus+ scheme.

As we have heard, the current Erasmus+ scheme has benefited thousands of our young people and given tens of thousands of EU young people the opportunity to spend time in the United Kingdom. Despite previous statements that the UK will consider options for continued participation, the Government may be tempted to make a clean break. That would be a mistake. If we were to leave Erasmus+, current participants would be able to wind up their placements but other young people would be denied the opportunity to study, to work and to volunteer, which has become so commonplace. We on these Benches very much hope that this will not be the case. It would be a huge mistake to walk away from a scheme that has led not just to better employment outcomes but to an increase in the participants’ confidence, independent thinking and cultural awareness.

The Prime Minister has indicated that the UK will seek to continue participating in Erasmus+. As the noble Lord, Lord Storey, and others who have participated in this debate have said, we support the Prime Minister in that position. I hope the Minister can confirm that this is definitely the Government’s intention, as well as outlining what discussions—if any—have already taken place with the EU 27.

If I may abuse my position for just a second, could the Minister also confirm whether any progress has been made on our continued participation in the Horizon research programme, which is similar in many respects?

[The Parliamentary Under-Secretary of State, Department for Education (Lord Agnew of Oulton) (Con)]

My Lords, I am pleased to respond to this amendment moved by the noble Lord, Lord Storey, and I will try to respond the comments made by the noble Earl, Lord Clancarty, the noble Lords, Lord Wigley and Lord McNicol, the noble Duke, the Duke of Somerset, and the noble Baronesses, Lady Coussins and Lady Blower.

I appreciate that in recent days there has been a great deal of interest in, and confusion about, the UK’s participation in the next Erasmus+ programme. International exchanges are strongly valued by students and staff across the education sector. That is why we published our international education strategy in March 2019, setting out our ambition to increase the value of education exports to £35 billion a year, and to increase the total number of international students hosted by UK universities to 600,000 by 2030. The numbers of international students and EU applications are at record levels. The total number of international students, EU and non-EU combined, studying in the UK increased from 442,000 in 2016-17 to 458,000, and the most recent figure is 486,000 for 2018-19.

The most recent mobility analysis shows that Erasmus accounted for less than half of all mobility activities. I agree with the noble Baroness, Lady Coussins, and the noble Lord, Lord McNicol: there is evidence that students who have spent time abroad as part of their degree are more likely to achieve better degree outcomes, improved employment prospects, enhanced language skills and improvements in their confidence and well-being. I must gently point out to the noble Baroness, Lady Blower, however, that it was a Labour Government who removed the requirement that modern foreign languages be a compulsory subject. As soon as that happened, participation collapsed and we have fought hard over the last nine years to increase it.

I would like to clarify the Government’s position and explain why the proposed new clause is unnecessary. As several noble Lords have said, the Prime Minister made it clear at Prime Minister’s Questions yesterday that we will continue to participate in the existing programme. Our future participation will be subject to our negotiations on the future UK-EU relationship, but we have in our elected Prime Minister, almost uniquely, a person steeped in European culture. He was educated in Brussels for part of his childhood, at the European School, and is bilingual in French. This is not a person who is going to turn his back on European education and its institutions.

We believe that the UK and European countries should continue to give young people and students opportunities to benefit from each other’s best universities. Our exit from the EU does not change this. As several noble Lords have said, we are not leaving Europe. The withdrawal agreement ensures that UK organisations, students, young people and learners will be able to continue to participate fully in the remainder of the current programme.

On the question of future participation in the next Erasmus programme, which runs from 2021 to 2027, we have been clear that we are open to continued co-operation on education and training with the European Union. We remain open to participation in the programme, but the amendment is not necessary. The next generation of EU programmes, including the proposed regulation for Erasmus 2021-2027, is still being discussed in the EU and has yet to be finalised. How can we comment on something that does not yet exist? The existing scheme is nearly seven years old and as the noble Baronesses, Lady Blower and Lady Coussins, said, the new programme will be different. It will be bigger and, until we see the substance of those proposals, we simply cannot be sure what the next stage of the Erasmus programme will look like. On this basis, it is not realistic for the Government to commit ahead to participation in a programme yet to be defined.

As set out in the political declaration, we have said that if it is in the UK’s interests we will seek to participate in some specific EU programmes as a third country. This includes Erasmus+ but this will of course be a matter for upcoming negotiations arising from our future relationship with the EU. We are considering a range of options with regard to the future of international exchange and collaboration on education training, including potential domestic alternatives. This is a significant moment in our history. In two weeks’ time, we will begin to pivot to become a more outward-facing country. We do not need just an EU university scheme but a much wider one.

I hope that we will have a global programme, encompassing all continents. We have many small schemes. Time is too short here to list them all but I will ask officials to attach an addendum to Hansard. I shall mention one: the Chevening scholarships scheme, which offers some 1,600 postgraduate scholarships and fellowships for potential future leaders. Last year, we doubled the number of scholars coming from Argentina. To celebrate this, I held a dinner for them in Lancaster House and was joined by the Argentinian ambassador—and before noble Lords worry about a taxpayer-funded junket, I can reassure them that I paid for this myself. I did this because I want Britain to have a wider window on the world.

This Government will look carefully at all available opportunities to fund international co-operation on education matters, including with the EU. I hope this explanation demonstrates why the proposed amendment is not necessary and I ask that the noble Lord, Lord Storey, withdraws it.