(6 years, 4 months ago)
Lords ChamberWhere I live, in a reasonably rural area, water was not laid on to houses until relatively recently. I think most people today think that running water in your home is a requirement. I take my noble friend’s point. He may not want superfast, let alone ultrafast broadband, but more and more people do, and it is important for the economy. More people need it, so, gradually—as we said, by 2033—it will be available. Of course, he does not have to use it or sign up for it and therefore will not have to pay for it.
My Lords, further to that question, what does the Minister have to say to people in my former constituency—in, for example, the Ettrick and Yarrow valleys—who, far from waiting for fibre broadband cannot even get email services at present? Surely the Government should be concentrating on that as well as the future.
Many people in the noble Lord’s party have castigated us for lack of ambition. On the one hand, we absolutely understand that they should be able to get superfast broadband, but we are also ensuring that the universal service obligation, which comes in in 2020, will give them a legal right to a minimum speed which will allow them to have email and watch TV at 10 megabits per second. Our ambition, which we are talking about today, is to go much beyond that, as it is an accepted rule that most people require more capacity as time goes on—there will be the internet of things and many other examples of why we need more capacity. I take his point and we are addressing it in the universal service obligation.
(7 years, 4 months ago)
Lords ChamberMy Lords, I completely agree. This is a sort of philosophical question that should really have a debate. It is a question of cost versus value and priorities. I would point out that the Labour Party, in the discussions on the proposal to require these issues to be published, thought that it was a bad idea and that the proposal should be withdrawn.
Does the Minister not agree that it is outrageous that any individual is paid more than £2 million from licence fee money?
It is a very large amount—but why draw the line at £2 million as opposed to any other amount?
My noble friend is correct. Of course the Government are prepared to take criticism if criticism is due, but in this case it is not. We must also remember that it was not this Government who paid the purchase price but a previous Government who had to deal with a crisis situation brought on by, among other things, the chaotic system of bank regulation. If this Government are prepared to deal with that in a way that can provide an overall profit to taxpayers, they should be—as I am sure they will be—duly given the praise they deserve from all parts of the House.
My Lords, the Minister has said several times that it will take some years before the whole sell-off is complete. Will he confirm that, while the Government remain responsible for the administration of RBS, it is their intention to press ahead with the disengagement between the investment side and the retail side? I ask that because RBS has recently, in Scotland, announced the closure of some of its small branches. That runs against the whole history of the Royal Bank of Scotland. As my noble friend Lady Kramer said, the local branches under the authority of a branch manager used to be a positive help to small, local businesses. Unfortunately, that has long since gone, and I hope we can get it back.
My Lords, the Government have legislated to implement the Vickers ring-fencing recommendations through the banking reform Act, and it is now up to regulators to finalise those detailed rules. The Government remain committed to the implementation of the ring-fencing regime by 2019. The ring-fencing of retail banking services will help to make sure that taxpayers are not on the hook again if the bank fails in future.