(8 years, 11 months ago)
Westminster HallWestminster Hall is an alternative Chamber for MPs to hold debates, named after the adjoining Westminster Hall.
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What the hon. Lady said is what I should have said. I thank her for that most excellent intervention—I shall endeavour to visit Hansard and memorise it for next time. I am surprised we got this far without that coming up, but I notice one or two Eurosceptics in the Chamber. The important point to make is that, all along, the SNP has championed the regional approach to fisheries, and we will continue to do so. The system is not perfect, but we shall work hard to make it better.
There is another important point, which my hon. Friend the Member for Argyll and Bute (Brendan O'Hara) was going to raise, but unfortunately he cannot be here today. There are real problems recruiting local crews to work on boats, on the west coast in particular. For some time that has been addressed by employing staff, notably from the Philippines, who have a specific employment classification. Without them, some boats simply would not be able to put to sea. We already see the impact of that.
Is my hon. Friend aware that the Irish Government have just announced that they will give up to 500 permits for such fishermen, and will guarantee that those who come from outside the European economic area will be given the minimum wage? Should the Westminster Government not do that as well?
I thank my hon. Friend for that intervention. His example shows that where there is political will, a solution can be found. The Government’s clear focus is on reducing immigration numbers, which is why they are starting to clamp down on those personnel, but the important classification of international seafarers is notably different. The answer given to many skippers—to look to recruit from eastern Europe—will make things worse. Next Wednesday, a number of us are attending a meeting with the Minister for Immigration. I ask the Minister present today to speak in support of this endeavour to ensure that we keep our boats in the water.
Finally, I was disappointed not to see sea fish levies in the Smith commission proposals. I encourage the Minister to look at how the issue could be devolved to the Scottish Parliament as a matter of urgency. There has been some discussion, but I would welcome his input and support for that. That would address the bewildering and anomalous situation whereby Scottish levy money is used to promote Norwegian fish in the UK market.
(9 years ago)
Commons ChamberIt is a pleasure to speak in this debate. I should declare that I am an ex-banker but one reformed, once described as a humble crofter on the Isle of Skye.
I thank my hon. Friend.
I am grateful to the hon. Member for Edmonton (Kate Osamor) for securing this important debate, and I commend the hon. Member for Wycombe (Mr Baker) who provided the House with great detail about how he views the financial issues surrounding the Royal Bank of Scotland.
We keep hearing from the Government about their long-term economic plan, but to have any kind of effective economic plan we need a dynamic banking sector that is fit for purpose and engages in appropriate and responsible consumer and business lending. It is therefore important that we pay cognisance to what is happening to the money supply, and in particular the definition of broad money or M4.
Figures released by the Bank of England for the year to end September 2015 are a cause of some concern. Money supply fell by 0.6%, although I concede that that was largely a result of a fall in wholesale deposits. Worryingly, however, lending fell by 0.1%. There is concern that availability to bank lending for businesses and consumers is running below the rate that can be considered sustainable, and certainly below the level that is consistent with the delivery of sustainable economic growth.
There is also a legitimate debate about what kind of lending we should have, and about interaction with savers—many speakers have already raised that point. We must encourage industrial and commercial investment that focuses on innovation and skills, driving up wages and living standards, and we must have less focus on consumer debt. In Scotland, Scottish Enterprise has a limited but successful investment bank, and we must consider how to support and grow that model elsewhere in the UK.