Banking Reform

Debate between Greg Clark and Alun Cairns

Monday 4th February 2013 Commons Chamber

[Greg Clark]

I think it important for the responsibility exercised by remuneration committees in particular to have regard to the experience of ordinary working people up and down the country. I see no reason why the way in which bonuses are thought about in boardrooms in the City should be any different from the way in which they are thought about in any other industry.

[Alun Cairns (Vale of Glamorgan) (Con)]

I welcome the Minister’s statement, which confirmed the Government’s policy on ring-fencing the banks and its extension to electrification. Does the Minister agree that some of the products or derivatives of investment banks—particularly fixed-rate mortgages—can offer certainty and security to retail customers, and that we need an intelligent debate about the issue?

[Greg Clark]

My hon. Friend is right, but I think we have already had the intelligent debate. The Government asked the commission to look into that issue in particular and to make recommendations, and the commission expressed the interim view that it was reasonable—as my hon. Friend says—for simple derivatives to be provided from within a ring-fenced bank. However, it wants to reflect further on whether any of its inquiries into the culture of banking may have implications for that. We will await its conclusions.

Localism Bill

Debate between Greg Clark and Alun Cairns

Tuesday 17th May 2011 Commons Chamber

[Greg Clark]

I understand the hon. Lady’s point, but I hope she accepts that we have stated clearly that we are very comfortable with the classic definition of sustainable development, which will be prominent—in fact, it could not be more prominent—in the planning policy framework. She has no grounds for concern. Her Committee asked for an assurance that sustainable development would continue to be part of planning policy, and I take that point.

[Alun Cairns (Vale of Glamorgan) (Con)]

I wish to return to the point that my hon. Friend the Member for Crawley (Henry Smith) made about places of worship. From my discussions with the Minister, I know that he has spoken warm words, but will he use this opportunity to place on the record his broad thinking about how places of worship can be accounted for in planning policy?

[Greg Clark]

I will resist the temptation to stray from the proposed changes before us. There are amendments that deal in particular with sustainable development, but I say in passing that the opportunity for communities to have and to promote places of worship is a reflection of their sense of community, and we would be wholly in opposition to the direction of the Bill if we had any intention of restricting that—quite the reverse. I do not think that my hon. Friend has any cause for concern.

The previous Government promoted the five principles of sustainable development—living within environmental means, ensuring a strong, healthy and just society, achieving a sustainable economy, promoting good governance and using sound science responsibly—in the sustainable strategy. I have no difficulty with that, and without going into too much detail I would expect those principles to be reflected in planning policy, where they always have been. That has been the place for them.

The challenge from new clause 2—to require sustainable development to be put forward after a period—also carries an important virtue. The national planning policy framework will be subject to consultation, and it is quite right that we should give people the chance to see our definition—I have given a pretty broad steer as to what it will be—and to comment on it, rather than simply capturing something in the Bill now. I would be perfectly relaxed about doing so, but we should give people the chance to reflect on and to add to the definition.

Oral Answers to Questions

Debate between Greg Clark and Alun Cairns

Monday 28th February 2011 Commons Chamber

[Greg Clark]

I am grateful for my hon. and learned Friend’s question. He will know that the Localism Bill will give communities the right to be heard and to set out a vision for their community in future. They have not had that before and when the Bill gets Royal Assent, they will have it for ever.

[Alun Cairns (Vale of Glamorgan) (Con)]

17. What steps he is taking to increase transparency in local government.