Oral Answers to Questions

Douglas Alexander Excerpts

Tuesday 29th November 2011 Commons Chamber

[Mr Lidington]

I think, as my hon. Friend would admit in private, the idea that the eurozone can somehow be dismantled in an orderly manner is rather far-fetched. The collapse of the euro and a prolonged recession in the eurozone would do profound damage to hopes for growth and job creation in the United Kingdom. It is our largest single trading partner.

[Mr Douglas Alexander (Paisley and Renfrewshire South) (Lab)]

Could the Minister for Europe tell the House how work on the Government’s stated aim of repatriating powers from the European Union is progressing?

[Mr Lidington]

My right hon. Friend the Prime Minister made it clear to the British people in his Mansion House speech the other week that we need a rebalancing of responsibilities in the European Union, with some things being done, yes, at the centre, but more things being done by member states in future. That work is ongoing.

[Mr Alexander]

Perhaps the Minister for Europe could be a little more forthcoming. How many staff in the Foreign Office are working full-time on this endeavour, will there be a White Paper on the repatriation of powers, and when, indeed, could the House expect such a publication?

[Mr Lidington]

I am afraid that the right hon. Gentleman will have to contain his excitement for a little longer. That work is ongoing, and of course, we shall keep Parliament acquainted with progress on it.

--- Later in debate ---

[Mr Hague]

It is very important, as we discussed a moment ago, that both sides embrace the opportunity of negotiations and respond to the Quartet timetable of substantive proposals by 26 January. In my view, that requires Israel to make that decisive offer, but it also requires Palestinians not to set preconditions for entering into such negotiations, and both sides to have the necessary spirit of compromise.

[Mr Douglas Alexander (Paisley and Renfrewshire South) (Lab)]

I join the Government in deploring the Iranian Government’s recent threats to downgrade diplomatic relations between Iran and the United Kingdom, and I welcome the sanctions imposed by the Chancellor of the Exchequer, which cut all ties with Iranian banks. Will the Foreign Secretary confirm whether those recent measures cover foreign subsidiaries of British banks, and foreign banks operating in the UK?

[Mr Hague]

The measures apply to the UK financial sector—to credit and financial institutions here in the United Kingdom. They do not, therefore, apply to foreign banks that happen to operate in the United Kingdom. Of course, the necessary defining measures will set that out in detail. The sanctions will be quite far-reaching, particularly as we are joining the United States and Canada in the measures, and I expect other countries to join in as well.