Trade Bill

Debate between Baroness McIntosh of Pickering and Lord Bates

Committee: 4th sitting (Hansard): House of Lords
Monday 4th February 2019 Lords Chamber

[Lord Bates]

I am very happy to give further detail on that in the general update between Committee and Report, but, as the noble Lord knows, the schedules were tabled in December followed by a 90-day consultation period. There can be a variety of perspectives on them before they are finally adopted. I will get an update as to where we are on that before Report.

[Baroness McIntosh of Pickering]

To clarify, my concern is about British companies establishing their services in what will be a third country, another EU country. I would be happy for my noble friend to write to me.

[Lord Bates]

I am grateful for that clarification. I shall make sure that that is what is addressed.

Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2018

Debate between Baroness McIntosh of Pickering and Lord Bates

Tuesday 22nd January 2019 Lords Chamber

[Baroness McIntosh of Pickering (Con)]

My Lords, I should like to make one point before my noble friend replies. I had great difficulty in attending the debate on these statutory instruments last week. For two weeks running, through an unfortunate circumstance of timetabling, these statutory instruments were discussed when an EU item was being debated on the Floor of this House, and I hope that that can be avoided as far as possible. I support the point that has just been made. It is placing us in a very difficult position to take these statutory instruments on trust when we could wait to discuss and pass them once we have the impact assessment before us.

[Lord Bates]

I hear what the noble Lords and my noble friend have said. The Government will of course use their best endeavours to ensure that the impact assessments are always in place. We are not entirely in control of the process—there are other relevant bodies—but we will always try to make sure that all the information is there for the relevant committees, which do outstanding work in processing these SIs. I certainly undertake to take back noble Lords’ comments.

Capital Requirements (Amendment) (EU Exit) Regulations 2018

Debate between Baroness McIntosh of Pickering and Lord Bates

Wednesday 19th December 2018 Lords Chamber

[Lord Bates]

I would be very happy to commend it.

[Baroness McIntosh of Pickering (Con)]

My Lords, there is a statutory instrument available in the Printed Paper Office this week entitled the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations. Has this already been considered? If not, what is the proposed timetable for considering this instrument?

[Lord Bates]

There is an agreed procedure in Section 8(8) of the EU withdrawal Act, which sets out exactly what can be done. We are following exactly that course of action, with proper scrutiny and a huge amount of work being done by your Lordships’ House and our terrific civil servants in preparing for this eventuality, and doing so professionally, openly and transparently. That is why we commend the regulations to the House.

Disaster and Emergencies Preparedness Programme

Debate between Baroness McIntosh of Pickering and Lord Bates

Monday 18th December 2017 Lords Chamber

[Lord Bates]

On the last point about the Harvard review, yes, we have it on DevTracker, which is a website for all contracts: all the reports are listed there. On the 45 NGOs that play an important part in delivery, DfID chairs that committee, so they were informed at the meeting in October or November. We underscored our commitment to this area and the significant amount of money we are putting in to humanitarian response, but also underlined to them our concern about some of the overhead costs that might be attributed to the complexity of the scheme as it currently stands.

[Baroness McIntosh of Pickering (Con)]

My Lords, will my noble friend take back to his department and the whole DfID team that the loss of Rebecca Dykes in these circumstances is felt very deeply? Can we pay tribute to the work that she and all the DfID team do, often in very dangerous circumstances, particularly at this time of year, for humanitarian purposes?

[Lord Bates]

We can certainly do that. It is obviously a very distressing time for Becky’s family but also for the people who worked with her. It reminds us of the sacrifice made by over 1,200 DfID personnel who work around the world, often in the most difficult and dangerous environments. The family have asked that we respect their privacy at this time and allow the facts to be established. We will of course recognise that wish.

Sterling: Euro Exchange Rate

Debate between Baroness McIntosh of Pickering and Lord Bates

Monday 9th October 2017 Lords Chamber

[Baroness McIntosh of Pickering]

To ask Her Majesty’s Government what assessment they have made of the impact of the relative value of the euro to the pound sterling on individuals and businesses.

[The Minister of State, Department for International Development (Lord Bates) (Con)]

My Lords, the UK has an inflation target, not an exchange rate target, and the Government do not express a view on the level of exchange rates. The value of sterling adjusts flexibly in response to economic conditions and market forces and sentiment. The Government will continue to monitor economic developments closely, while at the same time taking steps to promote economic growth and to support individuals and businesses.

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[Baroness McIntosh of Pickering (Con)]

My Lords, since 2015 the pound has lost between 20% and 30% of its value against the euro, leading to the loss of Monarch Airlines and Air Berlin, among others, in the last few months. Does my noble friend the Minister believe that the quantitative easing programme embarked upon by the Bank of England to shore up the level of the pound and keep interest rates down is sustainable? Will the Treasury come clean on what the real cost to the UK economy—to individuals and businesses—will be if the United Kingdom crashes out of the European Union without a deal?

[Lord Bates]

We can certainly say that a number of those elements are, rightly, matters that are independent of government. The Bank of England has been given the UK macroeconomic mechanisms to make those judgments on interest rates. Interest rates are at an historically low level. Exchange rates can have a negative effect on imports but a positive effect on exports. It is important that we emphasise that the fundamentals of the British economy remain strong. Employment is at record levels and we continue to grow and expand, and we want to see that continue. That is very much the positive outcome we want from this complex negotiation.