Venture Capital Funds (Amendment) (EU Exit) Regulations 2018

Lord Trefgarne Excerpts

Tuesday 22nd January 2019 Lords Chamber

[Lord Adonis]

My Lords, I am sorry to labour the point but—

[Lord Trefgarne (Con)]

I believe this matter came before the Secondary Legislation Scrutiny Committee. I apologise that with 300 pieces of secondary legalisation I do not always remember every detail of every one of them but, be that as it may, the SLSC often asks for changes to the impact assessment, as I believe happened on this occasion. The impact assessment has therefore been published; it is just that a further edition has been asked for.

[Lord Adonis]

So it has been published and the noble Lord can therefore make it available to the House.

--- Later in debate ---

[Lord Adonis]

My Lords, the noble Lord was intervening on me. It is not a question of accepting the word of the Minister; the Minister has not replied to the point. Indeed, the noble Lord, Lord Trefgarne, has added further confusion because he said that the impact assessment is available and it has just not been laid before the House, whereas I took the Minister to say that the impact assessment was not available. He told the Grand Committee last week that it would be published shortly. He is clearly still not in a position to lay it before the House. The House is being expected to agree a statutory instrument that will have a vital impact on a major national industry and we do not know the basis on which we are agreeing it. There is confusion between the noble Lord who chairs the relevant committee and the Minister as to whether an impact assessment is even available. The point that my noble friend Lord Rooker made seems to be completely correct. Essentially, we are legislating in the dark this afternoon, and that is a wholly unsatisfactory situation.

[Lord Trefgarne]

My Lords, perhaps I may have your Lordships’ permission to speak once more. In fact, the initial impact assessment was, I believe, withdrawn with the promise of another one, and it is the second one that we await.

[Lord Adonis]

But is that one available either?