(13 years, 10 months ago)
Lords ChamberMy Lords, I rise to speak in support of the amendment proposed by my noble friend Lady Hayter—Amendment 85C—and I endorse the very wise observations made from the opposition Benches by the noble Lord, Lord Jenkin of Roding.
These are now the government Benches. Perhaps the noble Lord has forgotten.
I think that we regard you as at best temporary occupants of the Spiritual and Temporal Benches on the opposite side.
As I look to the opposite side, I see many people who, like me, have enjoyed a career as a result of the great focus of skill that we have in the City of London. I look to those who have represented the City of London, such as the noble Lord, Lord Brooke, who was for many years my Member of Parliament—I may not have agreed with his politics, but he was an extremely good constituency MP—and to the noble Baroness, Lady Wheatcroft, who was a City editor.
Without wishing to inflame the views of those behind me, I would say that the City is the City of London. We do not use the term “the City” as shorthand for Birmingham, Manchester or Truro, where I come from. The City is the City of London—the square mile—which is a source of great excellence and a centre of economic prosperity. Of course, some firms based in the City have experienced recent difficulties, but we must not forget that many sectors of activity conducted within the City of London, under the supervision of the Corporation and the guidance and framework that the City of London provides, have continued to prosper. I think here particularly of fund management and of insurance.
The City is the square mile, and we cannot see this great centre of excellence divided as part of a rounding error to make weight for adjacent constituencies with wholly different profiles. To ensure continuing effective liaison among Guildhall, the City Corporation and Parliament, it is important that the City resides within a single parliamentary constituency. That is why I support the amendment of my noble friend Lady Hayter.
I was fortunate to be offered a ministerial position in the previous Government. My formal title was Financial Services Secretary to the Treasury, but the office was commonly referred to in the press and elsewhere as “the City Minister”. I endeavoured at all times to recognise that I had a particular responsibility to speak for the activities that took place in the City. Other centres such as Edinburgh, Manchester, Norwich and Bristol also have great centres of excellence and skill in financial services, but above all else that exists in the City of London and the square mile. I urge the Minister to recognise in this amendment that the City is a very special place. Frankly, it will not be understood in the City or elsewhere if the City is just parcelled out among other constituencies.