Brexit: Trade

Debate between Lord Bridges of Headley and Lord Harrison

Thursday 2nd February 2017 Lords Chamber

[Lord Bridges of Headley]

I absolutely agree with my noble friend, and I will go somewhat further. It is absolutely in our mutual interest—both that of our country and of the countries of the European Union—that we not only come to an agreement on the issues before us but do so mindful of the fact that for generations to come, just as for generations past, this country has faced similar challenges to those faced by countries right across Europe. We therefore need to be in a position to continue to co-operate and collaborate with our European partners in the years and decades ahead.

[Lord Harrison (Lab)]

My Lords, has the Minister read the House of Lords report on EU financial services, which fears that New York may predominate in the future as the global financial services centre—including, of course, those services which will gravitate to Frankfurt and Paris?

[Lord Bridges of Headley]

I have seen it, and it is clear that although some thought that it was a zero-sum game between London and the capitals of Europe, that is not strictly true. However, I point to what I said at this Dispatch Box last week—that there is a growing recognition, not just in this country but in others, that London will remain a very important financial centre, no matter what happens.

Brexit: Constitutional Reform and Governance Act 2010

Debate between Lord Bridges of Headley and Lord Harrison

Tuesday 13th December 2016 Lords Chamber

[Lord Bridges of Headley]

I am terribly sorry to say that the noble Viscount is going to have to wait for the plan on that point.

[Lord Harrison (Lab)]

Are the Government frit?

[Lord Bridges of Headley]

I am certainly not frit: I am here to answer questions and I will remain here to answer questions from the noble Lord and others.

Economy: Productivity

Debate between Lord Bridges of Headley and Lord Harrison

Tuesday 12th April 2016 Lords Chamber

[The Parliamentary Secretary, Cabinet Office (Lord Bridges of Headley) (Con)]

My Lords, productivity growth represents a serious challenge for all advanced economies, and the UK is no exception. The Government last year published our productivity plan, Fixing the Foundations. In last month’s Budget, we went further—for example, announcing additional reductions in corporation tax to incentivise investment, and giving the green light to infrastructure projects such as Crossrail 2 and High Speed 3.

[Lord Harrison (Lab)]

Indeed, my Lords. Given that productivity levels in the UK are lower than when the previous Labour Government were in office, and given that in the G7 only Japan stands worse than us, would it not be a good idea if, with some enthusiasm and gusto, the Government actually pursued their plan of fixing the foundations and building homes, rebalancing the economy and taking timely decisions about our transport infrastructure? Indeed, can they apply the enthusiasm with which they quarrel among themselves about Europe to addressing the real problems of the United Kingdom?

[Lord Bridges of Headley]

My Lords, I am bursting with enthusiasm and full of energy to get things done. I cannot claim that this Government will not encounter some of the problems that previous Governments down the ages have encountered when implementing their plans, but I refer the noble Lord to chart 2.B in the National Infrastructure Delivery Plan, published a fortnight ago, which shows that, of the 602 projects that the plan sets out and are in the pipeline, 61% are in construction, 50% will have been completed by 2020-21 and a further 49% will by that point be either under construction or part of an active programme. So we are full of enthusiasm, full of energy and we are getting going.