Lord Higgins
Main Page: Lord Higgins (Conservative - Life peer)Department Debates - View all Lord Higgins's debates with the Foreign, Commonwealth & Development Office
(10 years ago)
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Lord Bates
My Lords, I think we have had four questions from the Labour Benches and only two from this side.
Lord Higgins
Does my noble friend agree, first, that the combination of coalition government and fixed-term Parliaments seems to be resulting in longer and longer recesses and that there is a strong case for us having time to debate this issue in this House on a full-time basis? Secondly, is it not extraordinary that we have such elaborate arrangements on the military defence side of things yet very little thought seems to have been given to economic defence, with the result that we do not have the ability to reach agreement on short notice in the light of the present crisis on economic sanctions? What body is setting up the immediate procedure for dealing with the economic problems and the need to take economic measures in response to this crisis? Should we not have a permanent arrangement covering that?
Baroness Warsi
First, in relation to the point on recess, my understanding is that apparently the number of recess days does not exceed what has happened in previous years. As a Minister who is part of this coalition Government, I cannot remember the last time I had recess.
On the economic consequences, it is already clear, for example from the recent downgrade of growth for Russia’s economy from 2.3% to 0.2% this year, the $63 billion capital flight and the downgrading of Russian bonds, that this is having a real impact on Russia’s economy. The format for making sure that these sanctions are having an impact has been, among other things, the EU Foreign Affairs Committee. It is because there is constant planning happening that when there is an escalation in the situation there is an escalation in sanctions, and those sanctions are biting.