Oral Answers to Questions

Debate between Antoinette Sandbach and Harriett Baldwin

Wednesday 20th March 2019 Commons Chamber

[Harriett Baldwin]

My hon. Friend is absolutely right that solar energy, particularly in sunny places, is a very good idea. Indeed, there is some very windy coastline where offshore wind energy would also be very helpful. In addition to the event that we held for African Energy Ministers the week before last, we have come up with some remarkable inventions using some of our overseas development assistance—for example, a solar-powered fridge.

[Antoinette Sandbach (Eddisbury) (Con)]

Will the Minister outline the steps the Department is taking to improve biodiversity and habitat enhancement, particularly through the recent investment in the Darwin initiative?

[Harriett Baldwin]

My hon. Friend will be glad to know that I work closely with my counterparts at the Department for Environment, Food and Rural Affairs and the Department for Business, Energy and Industrial Strategy to join up the work we are doing to tackle biodiversity, specifically the contribution we have made to the global environment fund.

Oral Answers to Questions

Debate between Antoinette Sandbach and Harriett Baldwin

Wednesday 4th July 2018 Commons Chamber

[Harriett Baldwin]

The hon. Gentleman is absolutely right to draw attention to the challenges posed by climate change, particularly to the countries nearest the Sahara. UK Aid is working very closely with them, and investments in technology are helping to address that and provide drinking water for many hundreds of thousands of people in sub-Saharan Africa.

[Antoinette Sandbach (Eddisbury) (Con)]

The development of the M-Pesa payment system in Kenya with the help of DFID has absolutely transformed the economy, particularly for small traders. What other steps and similar developments can my hon. Friend outline that would improve the Kenyan economy?

[Harriett Baldwin]

This is another great example of how UK Aid can work to unlock a payment system that in many ways leapfrogs what we have here in the UK: people can pay from their mobile phone for a range of technologies and goods. Recently we had a solar fridge in DFID, and M-KOPA Solar is helping poor people in Kenya and other countries to pay for those fridges by using that technology.

Royal Bank of Scotland

Debate between Antoinette Sandbach and Harriett Baldwin

Thursday 11th June 2015 Commons Chamber

[Harriett Baldwin]

I thank the right hon. Gentleman for his kind words.

As the Chancellor made clear in his Mansion House speech last night, he was responsible for the decision point yesterday and for articulating a future path away from the situation he inherited. The right hon. Gentleman will remember that the Treasury predictions at the time of the interventions were that they would cost the taxpayer between £20 billion and £50 billion overall. The situation has moved on and the economy has recovered substantially from the largest recession in our peacetime history. It is time to put the banking sector into a new settlement, and to have a new settlement for our financial services.

[Antoinette Sandbach (Eddisbury) (Con)]

Sir Mervyn King, the former Governor of the Bank of England, said:

“Why…did the Bank of England not do more to prevent the disaster? We should have. But the power to regulate banks had been taken away from us in 1997. Our power was limited to…preaching sermons.”

Will my hon. Friend confirm that the Bank of England now has the power to do more than just preach sermons?

[Harriett Baldwin]

I welcome my hon. Friend to the House and congratulate her on an excellent question. The tripartite arrangements for bank regulation put in place by the former Member for Kirkcaldy and Cowdenbeath let the country down. The work of the last Parliament was to reframe our financial services regulation, so that the Bank of England could take responsibility, and so that we have a single point of regulation for the financial sector overall, supplemented by the important work of the Financial Conduct Authority on behaviour, and by the Prudential Regulation Authority. It is incredibly important that we have moved on from the tripartite arrangement. We do not want another situation in which the British taxpayer has to bail out a bank.