Ukraine
Debate between Geraint Davies and Jeremy Quin(2 years, 5 months ago)
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Jeremy Quin
My hon. Friend makes an acute observation. He is absolutely right to draw the House’s attention to the matter, which is of profound concern. We were in a bad situation with food supplies even before war in Ukraine; we are in a worse situation now. My right hon. Friend the Minister for Europe and North America informs me that, unsurprisingly, the matter was discussed at the meeting of G7 Ministers; it has also twice been the subject of conversations between the Prime Minister and President Zelensky. It is very much a focus for the Government, and we are in discussions with our NATO allies in the Black sea and others. It is a complex situation, as my hon. Friend the Member for Harwich and North Essex (Sir Bernard Jenkin) reminds us, but I assure him that we are very focused on it.
Geraint Davies (Swansea West) (Lab/Co-op)
Given the phenomenal impact on world food supplies, the cost of living crisis here, and the forecasts, which are now increasing, that the global economy will shrink by something like £750 billion thanks to this war, why is more not being done to invest in armoury and defence weaponry to basically kick Russia out of Ukraine? I understand that something like £7 billion of military aid has been provided. Is that enough? Should the world not be doing more, in its own self-interest?
Jeremy Quin
I remind the hon. Gentleman that I said at the start of my remarks that the world has never been more united over the past few decades. We have committed more than £1.3 billion of military equipment. The people who are doing the heavy work are the gallant defenders of Ukraine, the members of the Ukrainian armed forces; they are being supplied by this country and by many allies around the world. We have organised two donor conferences; I was at a donor conference earlier this week. Military supplies and defensive equipment are coming in from all over the world, in addition to a vast package of economic sanctions against Russia.
Jeremy Quin
We have supplied significant funds directly to Ukraine to help it through this incredibly difficult period. I cannot lay my hands on the exact amount, but the House may be blessed with the figure later in my remarks. We are also working with the G7 and others. Clearly, Ukraine is suffering from extraordinary problems at present, and the international community recognises that. It also recognises that Ukraine is standing up for a cause that means so much to us all, so the hon. Gentleman’s point is well made.
If I may, I will move on to our economic response. We are escalating our sanctions regime still further to stymie the Russian war machine and isolate Putin. The UK has now sanctioned more than 1,000 individuals and 100 entities, including oligarchs with a net worth of more than £100 billion. In recent days we have focused on his inner circle and the shady financial network surrounding him. This is alongside the asset freezes, trade bans and tariffs that we and other G7 nations have imposed in recent months. Over time, this economic contraction and the restriction of access to complex components will have an ever-deepening impact on the Russian war machine. As time goes on, despite their daily dose of propaganda, it will be harder and harder for the Russian people to ignore the evidence that their leaders are betraying them and their interests.
Jeremy Quin
I am conscious that other hon. Members want to speak, but I will of course allow the hon. Gentleman to intervene.
Geraint Davies
The Minister is probably aware that Putin signed a deal at the Olympics in Beijing for Russia to provide 10 billion cubic metres of gas per year from 2025, compared with 1.25 billion a year now, and that it is supplying more to Indonesia and India as well. Would he accept that, by working with China, Russia will be able to avoid the impact of sanctions over time, and that the imperative is to provide military assistance to get Russia out of Ukraine?
Jeremy Quin
There is an overall strategy to achieve the objective to which the hon. Gentleman refers. It is part defensive military aid, part economic and part diplomatic, and all those parts have a role in achieving our overall objective. Analysts are suggesting that, as a result of the economic package of measures delivered by the global community against the Russian economy, there has been a contraction of 10% to 15% in Russian GDP. That is extraordinary contraction. It takes the Russian people back to where they were before the Putin regime commenced, which has to have a direct impact—not only on them and the way that they think about the regime that is betraying their interests, but on the Russian war machine.
Oral Answers to Questions
Debate between Geraint Davies and Jeremy Quin(3 years, 9 months ago)
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Geraint Davies (Swansea West) (Lab/Co-op)
The Minister for Defence Procurement (Jeremy Quin)
Sustainability is considered at all the appropriate stages of the acquisition lifecycle, from setting requirements to disposal. In addition, we are improving sustainability in the defence estate, which offers a significant opportunity for the future.
Geraint Davies [V]
We face a climate crisis, and we must build back greener out of the pandemic. Will the Government undertake to do more to increase investment in research and development in low-emission planes and ships, working in collaboration with the civil sector? Will he meet me and Airbus, and others, to discuss the opportunities to boost innovation and production of non-military planes and ships—like the US does with Boeing—to help us meet our net-zero obligations? Will he boost exports, so that defence expenditure can be used to defend us against climate change?
Jeremy Quin
We are focused on the Government’s world-leading commitment to net zero 2050, and defence will, without doubt, play its part. A lot of work is ongoing regarding how we can increase our activity in that sphere, but we have discussions with commercial entities and throughout the MOD about how we can tackle carbon emissions throughout the armed forces. That includes, recently, clearing MOD planes to use up to 50% sustainable aviation fuel. That is a good step in the right direction, and others will undoubtedly follow.
Oral Answers to Questions
Debate between Geraint Davies and Jeremy Quin(4 years ago)
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Geraint Davies (Swansea West) (Lab/Co-op)
The Minister for Defence Procurement (Jeremy Quin)
We have maintained a close and ongoing dialogue with defence manufacturers throughout the pandemic to ensure that companies are effectively supported. I am pleased to confirm that orders have continued to be placed throughout the crisis.
Geraint Davies [V]
Airbus and Tata Steel in Neath Port Talbot are strategically important to the Welsh economy. Is the Minister ensuring that procurement is brought forward in terms of buying aircraft and building ships to help British steel and Airbus? Boeing, for example, has a lot of orders in America that supports it as a primary competitor, and we see such support in Europe as well. What is the Minister doing for Airbus and Tata Steel?
Jeremy Quin
There are elements of programmes that are being brought forward. The prime focus now, however, is on supporting the cash flow of the companies and suppliers. We have the means of doing so and we have been doing so. We have also been encouraging primes to support their own supply chains. From what I hear from trade bodies, that has been happening. I am pleased by the way the whole of industry has leant in during this ongoing pandemic and the support they have been given right the way across.
EU-Japan Economic Partnership Agreement
Debate between Geraint Davies and Jeremy Quin(6 years, 4 months ago)
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Geraint Davies
The WTO did get involved, but the essential point—[Interruption.] No, let us get this clear. The essential point of these arbitration courts is that investors invest, and if Governments change the rules and doing so changes their future profits, investors can sue for compensation, as was the case with the sugar tax. That would be the case if there was a plastics tax, for example, or if there was a diesel tax, and so on. That is why people are very worried, and the Government must not trade off the environment, the public interest and wider considerations of public law. Thankfully, there has been concern about this in Europe, which is why such an unnecessary system has not been applied in the Japan deal.
On Japan, 40% of its inward investment into Europe is to Britain. Why? Is it because the Japanese love British people? We do speak English, which is their second language, but it is basically because we are a platform, through the customs union and the single market, into the biggest market in the world. These are the facts. If we are not in the single market and the customs union, which we will not be after the transition period—if we go ahead with the barmy negotiation that is being suggested—that foreign direct investment will go to mainland Europe, and we may just be left on our own.
This is the situation we face. In particular, as has been said, President Trump basically has an America first policy. He does not recognise anything except a zero-sum game. We have had a conversation about imports and exports.
Geraint Davies
I will take the hon. Gentleman’s intervention in a moment.
The hon. Member for Stone (Sir William Cash), who is sadly no longer with us—I mean he is not in the Chamber—has always argued that we have to get out of the EU because we have more imports than exports, yet that is the case in Japan, as has been pointed out. There is a bigger picture here, because cheaper imports are often inputs that make our products less expensive relative to elsewhere, and there is a balance in relation to foreign direct investment as well. These are complicated issues, and I do welcome the deal. I will take the intervention of the hon. Member for Horsham (Jeremy Quin).
Pensions Auto-enrolment
Debate between Geraint Davies and Jeremy Quin(6 years, 8 months ago)
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Jeremy Quin (Horsham) (Con)
I am grateful for the opportunity to speak, Mr Davies. I am most grateful to my hon. Friend the Member for Chippenham (Michelle Donelan) for calling this debate. Too often, we come to the Chamber to have a good moan about things, but I sincerely hope that we have cross-party agreement today. Auto-enrolment should be warmly praised on both sides of the House, because it has been a great success. Some 19 million people are now enrolled in qualifying workplace pensions, 9 million of whom came through auto-enrolment. That means that we have increased by a quarter the percentage of the population who are in qualifying schemes. That is a success on any terms.
In addition to the policy being a success, its execution has been a success. My right hon. Friend the Member for Preseli Pembrokeshire (Stephen Crabb) was too modest to refer to his role in that, but a succession of Secretaries of State, both Conservative and Labour, oversaw the successful introduction of a good policy. For 1 million employers to be part of the scheme—including, I am proud to say, 1,860 in my constituency—and for opt-out rates to be as low as they are is a success.
I will dwell on that success for just a second longer while I talk about the long-term implications of what we have done. It is estimated that by 2019-20 an extra £20 billion a year will be being saved in pensions, which will ensure that people have a more comfortable retirement than would otherwise have been the case. There is more success in the small print: the biggest increase in participation has been among those on lower incomes and those working for smaller employers.
Unfortunately, as we are all aware, that is not the end of the story. We have had such positive buy-in from employers that, like other Members, I am nervous about the increase in the contribution rate to 3% in April 2019, but that is clearly a risk we have to take. If we cannot take that risk and push that envelope at a time when we have record rates of employment, there will never be a time for it. Even from there, as has been alluded to by my hon. Friend the Member for Chippenham and by my right hon. Friend the Member for Preseli Pembrokeshire, a savings rate of 8% will still leave 12 million individuals undersaving for their retirement.
We all know the huge power of inertia. There is a real risk that if people are told that is what they have got to save, they believe that is what they need to save, but we in this House know that that is not the case. The evidence from Australia and elsewhere is that higher rates will be required. I welcome the scheduled review of contribution rates. It may be difficult and painful, but it is necessary. I also welcome some of the other proposed reforms over the next few years that have been alluded to, such as lowering the relevant age from 22 to 18, bringing an extra 900,000 workers into the scheme, and removing the lower earnings limit, which will add nearly £3 billion a year to benefit in particular lower earnings workers, those with a part-time job and those with a number of part-time jobs.
My hon. Friend the Member for Chippenham eloquently described the issues faced by the self-employed. I agree that a participation rate in that growing sector of 19% is far too low. That is rightly a matter of concern. She produced some interesting ideas, and I look forward to the ministerial response. She and I would agree that there needs to be a structure in place for the self-employed. Again, it comes back to default and inertia: as long as there is no structure in place, they will not feel a need to go in, participate and make the provision for retirements that they require.
Many good things are coming out of the review. Of course, I have extra questions to ask my hon. Friend the Minister. Has the Department made an estimate of the number of individuals with earnings below the trigger rate of £10,000 per annum who are opting into the scheme? That would be good to know, to work through whether the scheme can be usefully extended below that rate. Opt-out rates are particularly low, but less so for small and micro-employers. Is that a matter of concern for the Department? What is it doing to address that?
My hon. Friend the Member for Amber Valley (Nigel Mills) referred to the need to understand the position and what can be done about it. I would love to hear more from the Minister about the pensions dashboard, which he referred to in his intervention, which I want to see extended to cover not just pensions but more assets. I also want to hear more about the mid-life review. My hon. Friend the Minister is a mere spring chicken, so he may not be under any personal time pressure to implement a mid-life review, but an MOT, as recommended by John Cridland, would be an excellent way to help people, as the Minister said, understand where they stand.
Geraint Davies (in the Chair)
I call Paul Masterton— I think you have got time for your pension.