Capital Requirements (Amendment) (EU Exit) Regulations 2018

Lord Berkeley Excerpts

Wednesday 19th December 2018 Lords Chamber

[Lord Bates]

The responsible thing to do would have been for Her Majesty’s Opposition to support the deal on the table. Then we would not need these no-deal statutory instruments.

[Lord Berkeley (Lab)]

My Lords, the European Commission has today published a paper entitled Preparing for the Withdrawal of the United Kingdom from the European Union on 30 March 2019, which gives various scenarios for financial services, transport, air and everything that we discussed yesterday. It says that it will allow a certain time for arrangements to be put in place, provided that the UK Government match it with similar concessions the other way with UK residents on the continent and everything else. How will the Minister and the Government deal with the responses to that paper and have them debated in your Lordships’ House?

[Lord Bates]

The usual channels will arrange for these discussions to take place and have debates on them. We are debating the Motion standing in my name on the Order Paper. The regulations have been reviewed by the committees, as has been referred to. They have been reviewed and debated in Grand Committee and passed without objection, which is why they find themselves on the Order Paper.