(5 years, 4 months ago)
Commons ChamberI agree with my hon. Friend, and I congratulate and praise Sir James Dyson. He is one of our most brilliant inventors and entrepreneurs, and he makes a big contribution to our country, not only through the people he employs, but in the education training that he gives. I share my hon. Friend’s ambition for us to be able to attract Dyson to locate manufacturing facilities in the United Kingdom. We have the research, the brains, the skilled workforce and the facilities. I hope, in time, that we will be able to celebrate further opportunities that Dyson may have in the United Kingdom.
I do welcome this report, but I would welcome it a lot more if the Government had followed all the recommendations of the Committee on Climate Change, not just the ones that do not cause ideological indigestion. In particular, the committee recommended that the emission reduction effort needs to be done here at home, not outsourced to poorer countries. Carbon offsetting basically slows decarbonisation, and it deprives poorer countries of the low-hanging fruit that they need to meet their own reduction targets. Will the Secretary of State therefore review the decision to rely on dodgy loopholes, and will he ensure that the domestic action is all done here at home?
I am grateful to the hon. Lady for welcoming the commitment, but she knows that the Climate Change Act 2008 includes the use of credits. The Committee on Climate Change has not recommended that we should repeal that part of the Act, just that we should not aim to make use of them. We support, accept and agree with that recommendation, so we will not be making use of credits.
(6 years, 5 months ago)
Commons ChamberI am grateful to my hon. Friend and I agree with her that nuclear should be a part of our energy mix. To be resilient, we should have a diverse energy mix. It is important that the cost of any project should be acceptable and affordable for bill payers as well as taxpayers. That will be an important principle in the negotiations, but if we are successful in that, it will make the contribution my hon. Friend describes.
May I put it on the record that there is not cross-party consensus on nuclear power? My question is about renewables. Investment in renewables is at an all-time low. Funding streams for clean energy are at their lowest level since 2008, despite solar and wind being the cheapest form of new electricity generation. I want to ask the Secretary of State again how he can justify this multimillion deal to prop up an outdated and hugely costly technology. The chief executive of National Grid himself has said that baseload is an outdated concept because the cost of batteries will come down very quickly and that technology will be much cheaper than new nuclear by the time it comes on board. Renewables are much cheaper and safer, and they are ready now. Why does he not choose them?
The hon. Lady has, as she describes, a fundamental disagreement: she does not see any benefit from nuclear to the resilience and supply of our electricity. That has long been her view, but I am surprised that she would talk down our country’s achievements on renewables. She should know that as a result of decisions taken by this Government and our predecessor, we are now the leading nation in the world for the deployment of offshore wind. Taking a strategic approach and investing in the future with a pipeline, just as we propose for new nuclear, has resulted in jobs being created around the towns and cities, in particular the coastal towns, of this country. I would have thought she would recognise and welcome that.
(7 years, 12 months ago)
Commons ChamberMy hon. Friend is absolutely right. One of the changes that we have made, through the growth deals and local enterprise partnerships, has been to bring major investment in line with major infrastructure improvements.
(7 years, 12 months ago)
Commons ChamberMy hon. Friend is absolutely right. This House has had good reason to be proud of the protections we have given workers in this country over the years. We do not need to rely on protections from the EU. We have inaugurated them in this House, and have a proud history of doing so over the years.
The Secretary of State just said that he would guarantee all protections. Will he absolutely confirm that that is going ahead of what the Government have said in the past—that it would only be “wherever practical”? Will he also rule out the idea of the great repeal Bill having a sunset clause that would mean that all EU law expired unless it had been specifically endorsed anew by the Government?
I will be very clear that all of the workers’ rights that are enjoyed under the EU will be part of that Bill and will be brought across into UK law. That is very clear. There is no intention of having a sunset clause.
The hon. Gentleman knows very well that since the previous Government the number of homes being built has increased substantially. In fact, it has increased by over 50% since we came to office. Planning permissions, as I mentioned, are now running at almost 250,000 a year, for the first time in many years getting to the level we need to provide homes for the population as it rises.
Given that the Bill fails to include any legal commitment to replace social homes that are sold under right to buy on a one-to-one basis, does the right hon. Gentleman accept that selling off valuable council homes to fund the extension of right to buy means that we are losing two social homes to rent in return for just one social home to buy? That is an overall loss.
The hon. Lady will find that the rate of additional stock that is being provided in response to the reinvigorated council right to buy is running at over one for one, and the agreement that we have been able to reach with the housing associations—if she has not had a copy of it, I will make sure that she gets one—makes it very clear that these homes will be replaced on at least a one-for-one basis. I should not say “replaced”, because the homes continue to be occupied; they trigger an additional home that is being built.
(9 years, 1 month ago)
Commons ChamberT2. If he will make a statement on his departmental responsibilities.
I issued a written ministerial statement today to update the House on the main items of business undertaken by my Department over the summer. In the past eight weeks, we have introduced measures to boost house building and to support aspiring homeowners, including first-time buyers; our commitment to devolve powers from Whitehall to local people has prompted proposals across the country; and we have strengthened the planning system to tackle unauthorised development and ensure that all communities are treated equally. As the House has heard, the Home Secretary and I chaired a joint committee with local government to put in place the arrangements to settle Syrian refugees.
Concerns have been raised that the changes to planning policy guidance for onshore wind will undermine the Government’s community energy strategy. Will the Secretary of State tell us precisely what assessment he has made of the impact of that announcement on proposed community energy schemes as well as those already in the system? Will he agree to meet community energy groups to hear their concerns?
We have implemented faithfully and speedily a clear manifesto commitment that wind development should go ahead only with the consent of the local community. We have not hesitated in doing that, and it was one of the things we enacted over the summer.
(11 years, 3 months ago)
Commons ChamberI do not know whether the hon. Gentleman will be reassured or alarmed to learn that I had not left the subject of regional banking just yet. Indeed, I want to come to the precise subject he has just raised.
The Prudential Regulation Authority’s changed procedures were referred to—by, I think, my hon. Friend the Member for Wyre Forest. It is now possible to license new entrants, who could require up to 80% less capital up front than previously. That means that the time is now ripe for new banks in the regions to be established. The hon. Member for Brighton, Pavilion, in her new clause 15, and the hon. Member for Edmonton (Mr Love) refer to CDFIs—community development finance institutions. Some £60 million of wholesale funding for CDFIs is available through the regional growth fund. Tax relief up to 25% is already available on investments made by individuals and companies into CDFIs. Of course I will talk to my hon. Friend the Exchequer Secretary and carry forward the hon. Gentleman’s representation for further changes, but a significant set of advantages is available. Similarly, the more flexible rules for credit unions that have been introduced and the £38 million of funding for this movement have also created greater opportunities.
Does the Minister accept that constraints on the amounts that larger credit unions—such as the East Sussex Credit Union, which I know well—are allowed to accept in deposits or are allowed to lend are stopping them fulfilling their potential? Will he look at that again?
I am happy to take that forward. The hon. Lady will be aware that we have liberalised the rules for credit unions, but if problems are being caused, not least in East Sussex, I would be happy if she dropped me a line or came to see me.
We have great enthusiasm for the proposals that the hon. Lady makes, but what is required is not a study, but action. I make this commitment to her, and to any hon. Member who is interested in helping to establish a new regional bank in their area, that I will help them to do so. I hope that they will allow me to do that.
New clause 10 would require the Government to lay a report before Parliament before selling any banking assets. All hon. Members are aware of what the Chancellor said in his Mansion House speech about the next steps for Lloyds and RBS. For Lloyds, the Government are actively considering the options for how its shareholding can be returned to the private sector. Value for money for the taxpayer will be the overriding consideration, and there is no pre-determined time scale. Indeed, the disposal process may involve multiple stages over time, rather than a single moment.
For RBS, share sales are some way off. In line with the recommendation of the Parliamentary Commission on Banking Standards, the Chancellor has announced a review, to conclude in the autumn, into whether a bad bank should be set up for risky assets from RBS. Following the criteria suggested in the commission’s report, the review will assess whether creating a bad bank would accelerate the path back to private ownership, deliver benefits for the wider economy and be in the interest of taxpayers.
As I have mentioned, the OFT is looking specifically at the impact that new challenger banks created by the Lloyds and RBS divestments will have on competition in small business banking. UK Financial Investments has a remit to provide value for money in executing its requirement to devise the means of selling the Government’s shareholdings in the banks, and, in doing so, to pay due regard to maintaining financial stability and to act in a way that promotes competition. In doing so, UKFI and the Treasury must follow the value-for-money principles set out in the Green Book, and they will be accountable, through the Accounting Officer, to the National Audit Office and the Public Accounts Committee, as well as to the House and the Treasury Select Committee.
(11 years, 3 months ago)
Commons ChamberIt delights me to hear the hon. Gentleman refer to today’s publication; it confirms what I thought and hoped, which was that the publication would inform the debate. I think that tomorrow we will come on to clauses that deal with precisely those matters.
Does the Minister understand the disappointment of those, including me, who believe that the proposals do not go far enough, and that we should look at full legal separation of investment and retail banking, and not just ring-fencing? If we do not, we risk sending a message to the public that politicians still have a surprisingly high degree of trust in the very banks and bankers who caused so much harm to our economy.
I do not agree with that. We will come on to talk about what the commission referred to as the electrification of the ring fence, and whether it is appropriate to have a power to break up the whole system, so I will address that in a second, if I may. Amendments 6 to 10 concern that electrification of the ring fence, to use the memorable phrase of my hon. Friend the Member for Chichester—or, I dare say, the whole commission.
(11 years, 5 months ago)
Commons ChamberGiven the increasing evidence, such as last month’s Carbon Tracker report, showing that so-called unburnable carbon assets pose a serious risk to the financial system, will the Minister look seriously at the proposal that companies should be required to disclose the carbon emissions potential of their fossil fuel assets?
The first requirement is to assess the risk that the hon. Lady has described, and it is for the Bank of England to consider the systemic consequences. Should the Financial Policy Committee of the Bank of England conclude that investment in high-carbon assets poses a risk, it would have to report and explain that risk in its financial stability report.
(11 years, 7 months ago)
Commons ChamberThe Defence Secretary and the Foreign Secretary have given a voluntary commitment to making sure that we do right by our armed forces, and their intentions are absolutely clear—that we should not be putting at a disadvantage the men and women who serve our country overseas, in this case in Cyprus.
I am a bit surprised by the lack of moral outrage from the Minister on behalf of the people who live in Cyprus. He calls the measures vigorous and exacting, but are they not actually immoral and unfair? Will he simply say that it is wrong for the Cypriot authorities to pilfer the savings of ordinary people living in Cyprus?
Not having been part of the negotiations, it is difficult for any Member of this House to know what the alternative was. The elected representatives of the Cypriot Government clearly accepted what was proposed in contemplation of a fate that they considered to be worse, which was the collapse of the Cypriot banking system. This is a situation that none of us wants to be in. Thank goodness that in this country, as a result of being outside the eurozone and having introduced discipline into our finances, we are not going to be.
This debate on the NPPF is timely, because the Public Administration Committee today highlighted the dire absence of a strategic approach to complex challenges from the Government. Can the Minister begin to reassure us that he really understands the need for strategic leadership by telling us what resources, guidance and assistance he will provide to ensure that local authorities have the capacity to deliver carbon reductions in line with the Climate Change Act 2008, as foreseen by the NPPF?
The hon. Lady is absolutely right that, as we transfer power to local authorities, it is right to support them in producing local plans, including those on environmental matters, and setting ambitious standards that they expect for local buildings and contributions to the built environment, and we will support them in that. If she talks with her colleagues in the Local Government Association, she will see that they recognise that the engagement we have had has been very productive.
Let me make progress and mention some of the features of the new NPPF, which reflect the contributions that Members from both sides of the House have made. The NPPF makes it crystal clear, as most people recognise, that the local plan is the keystone of the planning system. It continues to protect our green belt and other areas, such as sites of special scientific interest and national parks, which are of great importance to us. It recognises the intrinsic value of the countryside as something we hold very dear. It establishes the importance of bringing brownfield sites back into use. It recognises and reinforces the importance of town centres. It embraces the five pillars of the UK’s sustainable development strategy, something that I know the hon. Member for Brighton, Pavilion (Caroline Lucas) pressed on us during the consultation, but it goes further, because that was not stretching enough, and it requires net gains for nature. It has the most exacting design standards ever seen in the English planning system, it allows councils to protects gardens, it provides robust protection for playing fields, it gives 12 months’ transitional arrangements and it ensures that no council is disadvantaged if it has done the right thing and prepared local plans.
There is little dispute over the need for new, sensibly located affordable housing. The dispute is over whether it is the planning regulations that are preventing it. Many of us do not think that it is. The draft NPPF stated that any conditions on development proposals must allow “acceptable returns” to be made. Will the right hon. Gentleman tell the House whether the final document clarifies who will be responsible for defining “acceptable returns”, and how he will ensure that company profits will not be prioritised above high environmental standards?
No, they will not be. Nothing that is unsustainable can override that fact by using the viability test. That is for local plan makers and local councillors to determine. On the contribution that the planning system makes to impeding the development of affordable homes, there was broad consensus in the consultation, including among homelessness groups such as Shelter and housing associations, that the excessive bureaucracy of the process was an impediment to the development of affordable housing, as well as other types of housing.
It is the Government’s clear intention that it should be the case, as it is a requirement to bring forward land of the least environmental value, but let me comment on my hon. Friend’s point about the sixth year, as it were. If we are putting local plans first and genuinely want a local plan that is sovereign and determines what will happen for the future life of a community, it must be deliverable, sound and accurate. What is known empirically across the country is that not every piece of land that is allocated turns out to be capable of development in the way anticipated. Sometimes there can be fewer homes developed on a site than originally thought, with an allocation for six or seven homes ending up with only four or five, for various reasons—perhaps a tree is subject to a tree preservation order, for example. There is always some fallout. The proposal in the consultation suggests that if we are to plan for the number of homes that are really needed—there is no longer any number being handed down from above—we have to anticipate some drop-off, so a buffer is necessary. It is not a requirement to build any more homes than needed; the purpose is simply to make the plan as accurate as it can be.
I am not taking any more interventions, as Mr Deputy Speaker has indicated that he thinks I have spoken for long enough.