Financial Services: Regulation

Debate between Lord Bates and Lord Tomlinson

Wednesday 6th September 2017 Lords Chamber

[Lord Bates]

We have to recognise that the review that took place in light of the situation that occurred 10 years ago, with the financial crisis, necessitated a wholesale reform of consumer protection and also of the strength and stability, including the systemic strength, of the financial services industry. That was why these radical reforms were brought forward: to put consumer protection at the heart of this and to improve the conduct and authority of the mechanism by which that is done. That comes at a cost, and the cost has to be borne, ultimately, by consumers. That is one reason that it is important that the FCA pays attention, which it does, to the fact that it is required, as well as protecting consumers, to create an efficient and effective market for consumers so that they get good value for money as well as protection.

[Lord Tomlinson (Lab)]

Will the Minister undertake to tread very carefully in this area? We all know what we have been through in the last decade; it was as a result of being seduced by appeals for lighter-touch regulation, and we do not have any desire to go through that sort of process at all. Any change will have to be justified, not just because the industry wishes it but as a way of respecting the needs of consumers in this country to have a properly regulated financial sector.

[Lord Bates]

The noble Lord is absolutely right. Virtually every adult in the United Kingdom is a consumer of financial services, be it for mortgages, credit cards, loans, insurance products or pensions. It is essential that consumers continue to have confidence in the institutions that provide those services so that they continue to do those things, which are very much a social and economic good for this country.

Overseas Development Assistance

Debate between Lord Bates and Lord Tomlinson

Tuesday 4th July 2017 Lords Chamber

[Lord Tomlinson (Lab)]

My Lords, does the Minister agree that his view on the Secretary of State is a view on her present pronouncements about development, not on her former pronouncement that the department ought to be abolished?

[Lord Bates]

I think it is always best to judge politicians by their actions. When you look at what the Secretary of State is doing, what she has announced, the places she has been and the focus she has given to economic development, disability rights and family planning, in all these areas she has been at the forefront of humanitarian aid. The fact that she does so with an edge of demanding realism rather than sentimentality in approaching these things strengthens the delivery of the product.

Migration

Debate between Lord Bates and Lord Tomlinson

Monday 29th February 2016 Lords Chamber

[Lord Bates]

We changed the rules on that in legislation. We said that we wanted to attract the brightest and best. We want people to apply on a points-based system so that those with qualifications and people who could add something to the British economy through expertise and skills are able to come here, but other people are not. There would be restrictions on their families as well.

[Lord Tomlinson (Lab)]

Does the Minister accept that there has not only been a change in the rules, but a change in some of the language? Today, he did not reaffirm the commitment of the Prime Minister to reduce net migration to tens of thousands rather than hundreds of thousands. Today, his words were “to sustainable levels”. Are sustainable levels the level that the Prime Minister promised?

[Lord Bates]

Yes, they are. That is what we set out in our manifesto. We believe that we can get the numbers down but some extraordinary circumstances are occurring at the moment. The principal driving force is the imbalance in growth across the European economy in terms of employment. This has been picked up and identified as a principal factor by the Migration Advisory Committee, the independent group of labour economists. We would like to see greater growth and reform within the eurozone economy so that jobs would be created in those communities and people would not have to travel, but these things are not totally within our control.

Syrian Refugees: Settlement in the UK

Debate between Lord Bates and Lord Tomlinson

Monday 7th December 2015 Lords Chamber

[Lord Bates]

In terms of moral responsibilities, it should be recognised that we have committed to take 20,000 refugees by the end of the Parliament, which represents a significant upscaling of the scheme. The Prime Minister said last week that he would look at this issue again. He is doing so, but a key group that is concerned here is the UNHCR, which we are working closely with. It is concerned that if we offer special treatment to unaccompanied minors, that may encourage more of them to be trafficked or might take them away from the region where they would actually stand more chance of remaining with their families. In fact, that is being exploited by the people traffickers, who send the children first in the hope that they might be resettled, and that others may follow afterwards. The Prime Minister is looking at this again because on the face of it, there is a compelling humanitarian case. However, no decision has been taken yet.

[Lord Tomlinson (Lab)]

Will the Minister reflect on the fact that another of the Prime Minister’s pledges was to reduce net migration from hundreds of thousands to tens of thousands? Can he update your Lordships’ House on the statements made by the Chancellor of the Exchequer last week, in which he seemed to suggest that the Government are minded to take migration for the purposes of higher education out of the net migration count?

[Lord Bates]

I have two thoughts on that. First, of course, it is absolutely right that there needs to be downward pressure on the wrong sort of immigration into this country. We have got to get those numbers down, precisely so that we can also offer more generous support to the genuine refugees and asylum seekers. On the specific of students, whatever the change in the calculation of the numbers, it will make no change to the student policy. There is no cap on the number of students who can come here for genuine courses at genuine universities, and that will remain the case.

Channel Tunnel: Migrants

Debate between Lord Bates and Lord Tomlinson

Tuesday 1st December 2015 Lords Chamber

[Lord Bates]

There is a certain displacement happening here. As the security at Coquelles gets stronger and tougher, and as we then provide greater security around the port of Calais and move along to Dunkirk, Le Havre and other places, there will be displacement. People are going to be forced into the smaller ports and airfields that have been mentioned. That was the reason why we said that there was an increased threat there that needs to be responded to. Part of that was announced by the Chancellor last week when he announced £9 million for additional aviation security just to tackle that problem.

[Lord Tomlinson (Lab)]

My Lords—

--- Later in debate ---

[Lord Bates]

Under the Dublin regulations, they have to apply for asylum in the first safe country that they arrive in. If that is France, that is where they must apply for asylum. There are regulations under Dublin III, which the noble Baroness will be familiar with, that deal with family reunification. Where the individual applies for asylum in France but actually has strong family links in the UK, we will enter into discussions with our French counterparts to see how that arrangement can be resolved in a way that keeps the family together.

[Lord Tomlinson]

Would the Minister agree that it is about time that he changed the Answer he gave the House recently and revisited the role that identity cards can play in the fight against terrorists and illegal immigrants, and, by doing that, in the fight against the gangs that are organising these activities?

[Lord Bates]

The answer I gave to the House, which I acknowledge it did not fully accept—perhaps that was to do with the way I presented it—was that we had tried that before.

Police and Crime Commissioners

Debate between Lord Bates and Lord Tomlinson

Wednesday 3rd June 2015 Lords Chamber

[Lord Bates]

There is a limit because we have to control expenditure. However, the noble Lord makes a very fair point, which is that these are elected and accountable individuals. In Bedfordshire, for example, under the rules permitting a referendum to take place, there was a referendum on raising the precept beyond 2%. That was defeated by two-thirds to one-third just last month on a 65% turnout. I think that demonstrates that we support that principle.

[Lord Tomlinson (Lab)]

My Lords, as the Government are going to bring forward proposals laying down minimum turnouts in strike ballots for trade unions, does the noble Lord have any proposals to establish minimum levels of turnout to establish the legitimacy of police commissioners?

Population: International Migration

Debate between Lord Bates and Lord Tomlinson

Monday 16th March 2015 Lords Chamber

[Lord Bates]

I certainly assure the noble Baroness that that contribution is not underestimated and that it is not going to stop. We want people who want to come here to study, to work, to invest and to visit. We want all those people to come. What we are doing is drawing a line to say that we must get much tougher with those who want to come here and abuse our openness.

[Lord Tomlinson (Lab)]

My Lords—

--- Later in debate ---

[Lord Tomlinson]

My Lords, will the Minister explain to the House how the Prime Minister got immigration figures so stunningly wrong when looking at this country’s need for overseas students? He promised us that immigration would be controlled at tens of thousands rather than hundreds of thousands. His words in emphasising that were, “No ifs, no buts”. If he can get those figures so stunningly wrong, why should we believe any of the statistics that are coming from the Government on immigration?

[Lord Bates]

It could well be that when the Prime Minister made those remarks the country was in the depths of despair in 2010. Since then, we have had a jobs miracle. We are creating more jobs than the rest of Europe put together. As a result of that, not surprisingly, the place where people want to come to find work is the only place where the jobs are being created. That is in the UK.

EU Council

Debate between Lord Bates and Lord Tomlinson

Monday 27th October 2014 Lords Chamber

[The Parliamentary Under-Secretary of State, Home Office (Lord Bates) (Con)]

The noble Lord was not here for the beginning of the Statement.

[Lord Tomlinson]

He came in during the Statement.