Oral Answers to Questions

Debate between John Baron and Greg Clark

Tuesday 14th May 2013 Commons Chamber

[Greg Clark]

I will certainly do that, but I happen to know that the Financial Conduct Authority is already well aware of the case, and it is obviously taking a close interest in the continuing police investigation.

[Mr John Baron (Basildon and Billericay) (Con)]

Q14. What steps he is taking further to reduce Government expenditure.

Banking Union and Economic and Monetary Union

Debate between John Baron and Greg Clark

Tuesday 6th November 2012 Commons Chamber

[Greg Clark]

My hon. Friend is right to be alert to those dangers and risks. One of the clear principles on which we have insisted throughout all our negotiations on all the different dossiers is that we will accept nothing that would compromise our ability to participate in the single market.

Let me say a bit more about our stance on the EBA. What is currently proposed would not just require but enable members of the eurozone to caucus and adopt positions, which poses the clear risk that the ECB could dominate EBA decision-making. Given that 17 of the 27 EBA members are in the eurozone, that would constitute a blocking minority on all issues decided by qualified majority voting, and indeed a qualified majority under the new Lisbon rules.

Moreover, such action by the Commission would create an asymmetry of treatment between supervisory bodies. The proposal reflects the legal position that, as an EU institution, the ECB cannot be legally bound by EBA decisions on binding mediation, whereas the Bank of England could be. We have argued since the start of the negotiations that it would be inequitable and unacceptable if the Bank of England could be directed in that way but the ECB could not. We are pleased that our concerns are finally being acknowledged, but the asymmetry must be resolved if there is to be any final agreement.

As is required by both the motion and the amendment tabled by the Chairman of the European Scrutiny Committee, my hon. Friend the Member for Stone (Mr Cash), we will certainly use what the amendment describes as our

“best endeavours to ensure that the proposed changes…in the European Banking Authority are not adopted”.

In fact, that is an uncharacteristically mild form of words from my hon. Friend. We will insist that those changes are not adopted, and we will require full protection for the position of the United Kingdom and the other non-eurozone members in the EBA.

[Mr John Baron (Basildon and Billericay) (Con)]

I am very pleased to hear what the Minister is saying, but what concrete guarantees would exist if the Government’s proposals were adopted to ensure that the City of London’s interests could not be adversely affected by qualified majority voting by eurozone members, the ECB or anyone else on the continent? That is the key question that concerns us today.

[Greg Clark]

A number of mechanisms could require that, for example, the requirement for a dual majority. A number of possibilities are being discussed at the moment. What I have set out clearly is a very firm principle that we will not find ourselves in a position where we will be dominated by the ECB. That is what we are taking into the negotiations. We take a firmer view even than we are urged to do by the amendment.

National Planning Policy Framework

Debate between John Baron and Greg Clark

Tuesday 27th March 2012 Commons Chamber

[Greg Clark]

As I said, we have put in place transitional arrangements for plans that are in the process of being adopted, which gives weight to the policies already there, but obviously the weight increases once they are accepted and adopted. It is clear that the decisions on planning permissions always need to be given, however, whether they are in accordance with the development plan or other material considerations.

[Mr John Baron (Basildon and Billericay) (Con)]

Does my right hon. Friend agree that the acid test of this framework is whether green-belt land is developed against the wishes of local residents?

[Greg Clark]

The protections for the green belt in the NPPF make it absolutely clear that development on green belt should be refused other than in very tight circumstances similar to those that exist at the moment.