Local Enterprise Partnerships: Funding

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Monday 11th December 2023 Lords Chamber

[Baroness Penn (Con)]

That is exactly what the Government are doing; they are seeking to combine the devolution of greater power with greater funding and greater responsibility for the funding. There are the trailblazer deals that look to integrate the different streams of funding for local areas into something much closer to a single settlement. That will allow those areas to make decisions at a local level about what should happen in their area.

[Lord Kirkhope of Harrogate (Con)]

My Lords, surely all this bureaucracy and red tape is not the answer for some parts of our country that are in need of development. As one of those involved in the establishment of development corporations in the late 1980s, I think we should be proud of such a model. Frankly, is it not about time we allowed local businesses and local people to have a stronger say in what they want to renovate and rejuvenate zones of that kind?

[Baroness Penn (Con)]

My Lords, by integrating LEPs into local authorities and mayoral combined authorities, we are looking to streamline the processes by which business can engage in their local areas. As a part of our devolution deals, we are also giving combined authorities the power to set up development corporations so they can use the voice of business to drive development and economic progress in their local areas.

Income Tax Threshold

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Tuesday 4th July 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, we have worked hard to put tax cuts in place for working people, which is why we have raised the personal allowance. The increase to the starting threshold for paying national insurance was raised last year by the largest single amount, helping people who are currently facing challenges with the cost of living. The noble Baroness mentioned the changes we have made to pensions tax. That is to try to keep experienced professionals in our public sector workforce, from doctors to head teachers and members of the military. Those changes were made for the right reasons and will have the right effect.

[Lord Kirkhope of Harrogate (Con)]

My noble friend is quite right about the need to tackle inflation above all else. In the same way as the Government are discouraging excessive wage demands because they are inflationary, is it not correct that any attempt to change the tax system to chase inflation would be equally dangerous for the economy?

[Baroness Penn (Con)]

My noble friend is absolutely right. That is why, when we have looked at what support we can put in place for people, our number one aim is not to make the problem of inflation worse. We were able to do that through announcing the mortgage charter, which will provide important relief to people struggling with higher interest rates while not making the problem worse.

Banks: Closures and Shared Banking Hubs

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Thursday 27th April 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, the Government are not considering changing the framework. As I said in response to the Question, we expect the pace of delivery to pick up. Shared banking hubs are one initiative to ensure that communities can continue to access banking. I mentioned the Post Office as being another route: 99% of personal and 95% of business banking customers can carry out their everyday banking there, with more than 11,000 branches across the UK.

[Lord Kirkhope of Harrogate (Con)]

My Lords, my noble friend will recollect, no doubt, an earlier Question asked by my noble friend Lord Holmes about the nature of the facilities provided by ATMs and banks, particularly for those with disabilities. Will my noble friend therefore confirm that, in the establishment of these hubs, there will be a requirement on them to be careful to provide the sorts of facilities that are suitable for people with disabilities, as the banks were starting to do?

[Baroness Penn (Con)]

My Lords, in taking forward this work, I am sure that that is a consideration the banks have in mind. The banking hubs came out of a pilot programme that allowed banks to test out this model to ensure that it was accessible to all their customers. Of course, they are subject to the equality duty, which also means that they need to make proper provision for those with protected characteristics.

European Structural and Investment Funds and the European Agricultural Guarantee Fund

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Tuesday 21st March 2023 Lords Chamber

[Lord Kirkhope of Harrogate]

To ask His Majesty’s Government whether they have matched the funding previously provided by the European Union to the United Kingdom for the European Structural and Investment Funds and the European Agricultural Guarantee Fund in 2014–20; and if not, what is the extent of the shortfall.

[The Parliamentary Secretary, HM Treasury (Baroness Penn) (Con)]

The 2021 spending review announced the £2.6 billion UK shared prosperity fund, which improves on the European structural funds by empowering local places. The Government have also introduced farming and rural support worth a cumulative £3.7 billion annually over this Parliament and £33 million annually to support fisheries. This meets our 2019 manifesto commitments to maintain the levels of funding for farmers, fisheries and local economic growth in ways that are less bureaucratic and better targeted at local priorities.

[Lord Kirkhope of Harrogate (Con)]

I thank my noble friend for that partial reassurance, but I ask her to consider very carefully two elements. One is the farmers and members of agricultural communities, who are seeing an erosion of direct payments right now against a future sustainable farming incentive, and their deep concern to keep food production at a high level. The other is structural funding; many local authorities and regions in our country have had expectations for the new UK shared prosperity fund, but that is not coming in for some time. Can my noble friend give us further reassurances that these gaps will be filled?

Financial Services and Markets Bill

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Committee stage
Monday 13th March 2023 Grand Committee

[Baroness Penn (Con)]

My Lords, to deal with the question of the risk assessment undertaken as part of this work, as I have already said, the Government have engaged closely with law enforcement and the intelligence community to inform our understanding of the risk in this area. It is a difficult area, and it is not particularly appropriate to go into detail on the contents of the risk assessment, given the sensitive nature of the information. As I also set out, the context is that there is potential for those in positions of influence to make domestic PEPs targets for influencing behaviour by serious and organised criminals and hostile state actors. The potential links between domestic PEPs and criminal activity vary, including abuse of political position for personal gain or links to overseas corruption.

I very much understand the desire by those directed by the regulation to hear more about that risk assessment. It was a question that I anticipated and to which I sought to get as full an answer as possible for the Committee. I am under constraints, but I shall none the less take away the requests from noble Lords to see whether there is any more I can do to provide more information on that point.

[Lord Kirkhope of Harrogate (Con)]

I follow up the inquiry of my noble friend Lord Attlee about statistics—whether parliamentarians have actually fallen foul—and take it one stage further. With regard to the particularly appalling way in which family members are implicated here, do we have statistics on how many family members of parliamentarians have fallen foul? Surely, they are implicated simply because they are related to someone who is classified as a PEP. We have mentioned human rights, but this provision cannot be fair or proper and should surely be removed.

[Baroness Penn (Con)]

As I said, I shall take away the point about what further I can say about the work on the risk assessment. The focus has been on looking at risk, and my understanding is that, in considering that, the question of close associates or family members—I believe that is the terminology in the regulations—has also been considered.

Wales: Additional Financial Resources

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Wednesday 18th January 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, the Government have set out their plans for the shared prosperity fund and how they intend to keep that commitment. Taking into account the tail of EU contributions and then the UK top-up, the levels of funding remain those we committed to in the election manifesto.

[Lord Kirkhope of Harrogate (Con)]

My Lords, I am following on from my noble friend Lord Forsyth’s point. While we are discussing the Barnett formula, a considerable number of people in England, particularly in parts of England quite close to the Scottish border, have always been concerned about the preferential treatment given to Scotland through the Barnett formula in terms of public spending. Does the Minister not think it is time for the Government to review that, but also look at other areas of England, when they look at improving expenditure?

[Baroness Penn (Con)]

I do think it is important that, when we look at our public spending, we take into account the needs of the various areas. I have described how we do that when it comes to the Welsh Government. We also have that process when we look at, for example, funding for local government. That is a principle that the UK Government will continue to support in our approach.

Financial Services

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Wednesday 11th January 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, I recognise the strong interest in this area. As we debated last night, the previous Financial Services and Markets Act put an obligation on the FCA to look at it. It has brought forward its new consumer duty and believes that that fulfils the same function. I am sure that we will discuss this further in Committee.

[Lord Kirkhope of Harrogate (Con)]

My Lords, I declare a partial interest in that a member of my family is involved in designing, constructing and introducing ATMs and other retail technology. Does my noble friend think that enough is being done on the relationship and connection between organisations that represent those with disabilities, the Government and the manufacturers and designers of this equipment?

[Baroness Penn (Con)]

I would certainly be interested to hear what more could be done in that area. On ensuring that everyday banking is accessible to customers, LINK, for example, publishes on its cash locator information on ATMs with audio assistance and those that are wheelchair-accessible, so that consumers are aware of what locations are suitable for them. We are always interested to hear about what further work we can do to promote financial inclusion.

Money Laundering Regulations: Politically Exposed Persons

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Monday 28th November 2022 Lords Chamber

[Baroness Penn (Con)]

I would be very happy to meet with the noble Baroness and other interested Peers to see what more we can do. I will clarify one point. The review of the money laundering regulations concluded earlier this year. One of the outcomes was that there was more work to do to better understand the risk profile of domestic PEPs. That work is ongoing. When we have a better understanding of the risk profile and any potential consequences of changing the classification of domestic PEPs, we will take our work forward accordingly. In the meantime, it is important that people are treated fairly by the financial institutions that they work with. We have included a list of points of contact for some of the major banks so that people who are having problems can receive help where it is needed. If Members have issues, I encourage them to make use of the Financial Ombudsman Service, if they need to, as a route to address any problems.

[Lord Kirkhope of Harrogate (Con)]

My Lords, I thank my noble friend the Minister for her letter, which clarifies the current position to some extent. As one of those who was involved for a long time in drafting these regulations in Brussels, it was absolutely required that we should put “proportional” into them—unusually for regulations in Brussels. Can the Minister do more to force the FCA and the financial institutions to take some notice of that proportionality? Can we please make sure that this indiscriminate application to public servants—and their families, including my own—of draconian measures can be put aside, and that we can take a sensible and proper view towards anti-money laundering arrangements?

[Baroness Penn (Con)]

I absolutely agree with my noble friend on the importance of that word and of a proportionate approach being taken in the implementation of these regulations. I know that concerns have been raised in the past. We have convened previous meetings with the FCA and the banks to make this message known to them. Hopefully, the points of contact that we have provided will provide a further remedy to any noble Lords who are affected. We are also looking at the broader system to see whether we can change the designation of domestic PEPs. However, we need to look very carefully at this and take our time to make sure that we do that work properly.

Money Laundering Regulations: Politically Exposed Persons

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Tuesday 5th July 2022 Lords Chamber

[Baroness Penn (Con)]

My Lords, my understanding is that the original measures on PEPs were put into UK law in 2017, so the timescale is slightly different from that set out by the noble Lord, but I absolutely take his point on action that needs to be taken. That is why we have continued to follow up with banks about taking proportionate action under the current regulations and are looking at whether they can be amended, but we need a strong evidence base to take that action.

[Lord Kirkhope of Harrogate (Con)]

My Lords, as one of those involved in the drafting of the anti-money laundering directives—and, unfortunately, often described by colleagues as an expert in money laundering, as opposed to anti-money laundering—I point out to my noble friend that we fought very hard to ensure that the implementation of the directive would be proportionate. That word was as the result of British initiatives. It seems to me that the Financial Conduct Authority, in its further directions to our banking institutions, has failed to carry through the importance of proportionality and has therefore allowed the banks and others to behave in the way they are now, which is utterly unreasonable.

[Baroness Penn (Con)]

My Lords, after the original transposition of the regulations, further guidance was issued by the FCA to emphasise exactly the point my noble friend makes about action being risk-based and proportionate. Clearly, there are still issues in taking that forward. That is why we continue to engage with the FCA and banks on this. We will also be engaging with parliamentarians on the route to contact their banks where they think they are not following the very sensible, proportionate approach for which the UK advocated in the EU.

Insurance Industry: Travel Premiums

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Tuesday 28th June 2022 Lords Chamber

[Baroness Penn (Con)]

There are several elements to that. It is for the market to determine the provision but, if that market is not functioning, it is for the regulator to take action; if it is not functioning properly, that is what we expect the regulator to do. I pointed to one example where the regulator acted in needing to signpost consumers to alternative providers if the insurer it had approached could not provide reasonable cover. The role of the Government is to look at policy; that is where the Financial Inclusion Policy Forum comes in—we work with the market and the regulator to ensure that we get the right outcomes.

[Lord Kirkhope of Harrogate (Con)]

My noble friend should surely be concerned about this level of age discrimination, which applies not only in this field but particularly in that of car hire. I understand that some good drivers over the age of 70 are being denied the opportunity to hire a car, the reason given being a failure to obtain insurance. Is this not unacceptable, bearing in mind the statistics on the safe driving of older drivers?

[Baroness Penn (Con)]

Age can be a risk factor in the provision of insurance. It is right for the market to take that into account but, where there are examples of discrimination that go beyond assessment of the risk factor, that is for the FCA to consider as the regulator of the market.

Sudden Adult Death Syndrome

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Wednesday 9th June 2021 Lords Chamber

[Baroness Penn (Con)]

My Lords, that is not the current position of the Government. The effectiveness of pre-participation screening for athletes is not proven by clear-cut evidence; there is mixed evidence out there. Its potential to reduce deaths is likely to be low because of the poor detection rate. There is also the counterbalancing potential for psychological harm due to the potentially high number of false positives, which could be particularly debilitating for professional athletes and those whose lives are centred around sport and participation.

[Lord Kirkhope of Harrogate (Con) [V]]

Every time this syndrome strikes, it leaves a terrible situation for all those connected to the victims, including sometimes feelings of guilt that somehow in individual cases it could have been avoided. Does my noble friend think that sufficient research is being carried out, especially in the field of genetic causation, and what more could the Government do to support and enhance such work and research?

[Baroness Penn (Con)]

My Lords, there is an opportunity now, with the implementation of the genomic laboratory hubs across England, to explore the systematic introduction of post-mortem genetic testing for SAD, which could vastly help us in this area. A programme was launched last year between NHSEI and the British Heart Foundation to do that, and seven sites are developing pathways to improve testing in this area.

Special Educational Needs

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Thursday 26th November 2020 Lords Chamber

[Baroness Penn (Con)]

My Lords, without pre-empting the results of the review, I can give the noble Lord that reassurance. The aim of the review is to improve outcomes for children and their families across the country, deliver on commitments that we have made in legislation and improve value for money for the investment that we are putting in.

[Lord Kirkhope of Harrogate (Con) [V]]

My Lords, following the recent, welcome feasibility study and its conclusions, is it not nevertheless now even more difficult to design comparable but specific plans everywhere for individual children and young people with EHC needs?

[Baroness Penn (Con)]

The feasibility study findings re-emphasise that there are diverse levels of support needs and differing approaches to meeting these needs. The challenge that this presents is something that the SEND review is addressing. The findings confirmed that it is feasible to undertake a value-for-money assessment in the near term, and also outlined how to fill existing evidence gaps in order for the department to complete more value-for-money assessments over the longer term.

Tax Avoidance: Base Erosion and Profit Shifting

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Monday 2nd November 2020 Lords Chamber

[Lord Kirkhope of Harrogate (Con) [V]]

My Lords, I suggest that there is a lack of consensus, especially relating to the new proposed OECD framework. In view of that, what progress has been made on action 14—the peer review process, which ends in 2021—to improve dispute resolution between jurisdictions?

[Baroness Penn (Con)]

My noble friend is right. These negotiations are complicated, and they involve more than 100 jurisdictions. Although it is difficult, I welcome the progress that we manage to make. My noble friend is also right about action 14: the peer review process is under way. More than 45 jurisdictions have been reviewed so far and around 990 recommendations issued as a result of that process.

Covid-19: Furloughed Space Grant Scheme

Debate between Lord Kirkhope of Harrogate and Baroness Penn

Monday 15th June 2020 Lords Chamber

[Baroness Penn]

The noble Baroness will be aware that local authorities are obliged to borrow and invest with caution and prudence. On borrowing to invest in social housing, of course this Government have released the cap on borrowing to invest in precisely that.

[Lord Kirkhope of Harrogate (Con) [V]]

My Lords, I refer to my interests as set out in the register. Even without the Covid crisis, does my noble friend agree that the trading position of many of our high streets has become problematic? Will the Government consider amending the proposed business rates holiday to benefit property owners with vacant premises by extending the current short exemption period while new tenants are found for those premises?

[Baroness Penn]

The noble Lord is right to say that we need to do more to support our high streets. That is why we have a £1 billion Future High Streets Fund. On business rates, the Government committed to and published the terms of reference for a fundamental review of business rates in the March 2020 Budget.