Ukraine

Lord Risby Excerpts

Friday 26th January 2024 Lords Chamber

[Lord Risby (Con)]

My Lords, I thank my noble friend Lord Ahmad for initiating this timely debate, and I warmly congratulate my noble friend Lord Camoys on his absolutely excellent speech.

Ukraine is at the receiving end of numerous cross-currents. The pre-winter attempts to roll back Russian forces were not as successful as had been hoped for, the divisions among European countries beset by economic difficulties have led to some Ukraine fatigue, and military equipment promises have not been realised. Nevertheless, the resilience and determination of the Ukrainian people remain extraordinary. We also need to acknowledge that our support for Ukraine is ultimately an investment in our own territorial security, as a guardian of democratic values. The gratitude towards the United Kingdom is profound, so I greatly welcome the security co-operation signed recently in Kyiv by our Prime Minister. Particularly gratifying is the knowledge that our support is totally cross-party and backed by the British people.

Rightly or wrongly, there is a sense emerging that this war is edging towards a conclusion. As part of this, we have seen recently an increase in businesses worldwide exploring opportunities in Ukraine. For example, the giant Korean company Hyundai has entered into a partnership with a Ukrainian company to co-operate in projects in construction and in the reconstruction of chemical plants for the production of fertilisers, and it is exploring the further building of gas and processing plants. All of this is underwritten by $3 billion in credit support by the Korean Government. Security guarantees are crucial for potential investors. It is worth reminding ourselves that, pre-conflict, Kyiv was a vibrant high-technology and digital centre, used by many British businesses.

Among other welcome developments, our Ministry of Defence has been working closely with the Department for Business and Trade in engaging with the commercial insurance industry directly to come forward with solutions. Can my noble friend the Minister comment on what progress has been made? Excellent foundation work was undertaken at the London Ukraine Recovery Conference, with Lloyd’s of London announcing a partnership to reopen reinsurance coverage in Ukraine. Again, can my noble friend comment on progress made?

I hope that we will firmly insist that Ukraine does its part. There is still a great deal to be done on judicial reform. I suggest that it would be good for Ukraine to establish a properly empowered judicial investment court, to make sure that there are clear rules on investor protection and transparency. This would be the clearest possible message of positive change, which we should encourage very strongly indeed.

I greatly welcome the memorandum of co-operation signed between the Ministry of Economy in Ukraine, the London Stock Exchange and TheCityUK with the objective of the long-term financing of Ukrainian companies post-conflict. This should help to attract foreign direct investment. I particularly welcome the focus on small and medium-sized businesses.

My noble friend is right to emphasise the role of the private sector. Would it be possible, for example, to create a government-backed fund of funds out of existing development funds, to be invested by vetted, UK-based investment managers who will then commit to raising additional capital, leveraging this fund of funds? There is much support for this already by potential participants.

Many of your Lordships will be aware, and have spoken very tellingly, of the massive humanitarian needs in Ukraine. Admirably, there are many UK charities, which are to be applauded, quietly helping with medical supplies, support for those with life-changing injuries, particularly amputees, and programmes to address the inevitable mental health crisis. It is not only the consequences of the destruction of residential buildings; there are also targeted killings, the wicked abduction of children, brutal torture and sexual violence, all adding to personal trauma.

As we look ahead, it is worth reminding ourselves of the trilateral memorandum of understanding signed between Poland, Ukraine and ourselves, pre-invasion, to deepen co-operation in three priority areas: combatting disinformation, boosting cyber and energy security, and securing Ukraine’s territorial cohesion through the Crimea Platform. Poland has, of course, suffered invasions and occupation. The Council on Geostrategy, of which I am a director, along with the noble Earl, Lord Oxford and Asquith, and my noble friend Lady Neville-Jones, has assembled a commission of prominent individuals to determine how the three countries might deepen co-operation. Our concluding report will be published very soon. By joining forces, the three countries can pursue their agendas more effectively than alone. By advocating for Ukraine’s defence, which is so very critical, they can act as a vanguard within the Euro-Atlantic area at a time when any equivocation in the United States and the EU risks the country’s future.

Finally, as we examine all the strands at play in this conflict, and reflect on recovery and renewal, may I put a proposition to my noble friend the Minister? In so doing, I echo the sentiments of the noble Earl, Lord Oxford and Asquith. At different times historically, Members of your Lordships’ House and others have been appointed as special envoys, to be at the very epicentre of knitting together all political, military, commercial and humanitarian objectives. Is this not precisely the time to consider this role in Ukraine? Appointed by the Prime Minister, such an envoy would send a clear signal of our unwavering support to our Ukrainian friends, and potentially maximise the effectiveness of our multifaceted commitments, drawing together government departments here for the stability and renewal of the country. I hope that this suggestion will be given active and positive consideration.

Ukrainian Holodomor

Lord Risby Excerpts

Thursday 23rd November 2023 Lords Chamber

Moved by

[Lord Risby]

That this House takes note of the case for recognising the Ukrainian Holodomor as a genocide.

[Lord Risby (Con)]

My Lords, during the 20th century and indeed even more latterly, the world has witnessed grotesque acts against fellow human beings but, as one analyses the intentions of Stalin in Ukraine in 1932 and 1933, a common continuing theme emerges. In the eyes of Russia, then and now, the essential intention was and is the destruction of Ukraine as a separate sovereign entity. President Putin has openly declared his belief that Ukraine is an artificial construct and that the country is really an extension of Russia.

I have been to Ukraine, including Crimea, many times, as the former long-standing chairman of the British Ukrainian Society. Ukrainians have their own distinct history, and their own language, culture and identity, which they are today fighting passionately to defend. Absolutely ingrained in their collective consciousness is the Holodomor, with current events highlighting this horrific historic event more than ever. At the end of this month Ukraine will be commemorating the 90th anniversary of the Holodomor, and indeed tomorrow I shall attend a special commemorative service in Westminster Abbey.

In my view today, restoring historical justice and honouring the memory of millions of innocent victims is more pressing than ever. The Holodomor was a manmade famine implemented by the communist leadership in Ukraine, but initiated and engineered by Joseph Stalin—and indeed the word “Holodomor” is derived from the Ukrainian words “death by hunger”. Estimates suggests that up to 10 million Ukrainians died. Ukraine is agriculturally very fertile, but at that time the country’s self-sufficiency was deliberately wrecked by the confiscation of food. The food was then directed towards Soviet industrial centres and armed forces, to fill government grain reserves, and to be sold abroad. The rules were ruthlessly applied. A grain procurement quota for Ukraine was introduced at such a high level to make supply impossible—thus the deployment of brutal force, repression and total seizure of grain and grain reserves took place. There was specific targeting of district farms and communities, making it impossible for people to leave these areas, while implementing full confiscation of any foodstuffs and banning trading activities. Armed groups instituted constant searches to enforce all this. Family pets, dogs and cats were the first to suffer.

The depth of the dehumanisation reached grotesque levels. The ultimate goal of the resulting artificially induced famine was to break the spirits of independent Ukrainian farmers and force them into collectivisation. Not one single village could meet the impossible quota. Soviet law made it clear that no grain could be given to feed people until the quota was met. Of course people tried to hide food—driven overwhelmingly by the need to feed their starving children, above all—but Communist Party officials, aided by military troops and secret police, ruthlessly sought out all possible hiding places. The result was indeed mass starvation. Desperate people sought to stay alive by eating tree bark, insects, weeds and leaves.

In August 1932, the Communist Party of the USSR introduced a law mandating the death penalty for what was designated “social property”—food, in other words. Some confiscated grain was exported to western markets. There are estimates that more than 3 million children born in 1932 and 1933 died of starvation. Some individuals tried to make their way to find work in urban areas to survive, but internal passports were introduced which stopped that. The military guarded the grain silos; horrifically, much food rotted. The winter corpses lined the roads. Mass graves were dug. Suicide was common. I dwell on the systematic and ruthless way in which that mass starvation was brought about simply because any ignorance of the full scale of the atrocities needs to be dispelled. For many, there is an echo of what happened then in the denial and confiscation of grain for political purposes that we witnessed after the invasion of Ukraine by Russia.

I have tried to describe graphically the horrors of 1932-33 in Ukraine and the grotesque system put in place to effect the inevitable outcome. Surely “genocide” is the only word that can describe what happened. The genocide convention is an international treaty that criminalises genocide and that has been unanimously adopted by the United Nations General Assembly. Article II of that convention defines genocide as

“acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group”—

specifically,

“killing members of the group … causing serious bodily or mental harm to members of the group … deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or in part … imposing measures intended to prevent births within the group … forcibly transferring children of the group to another group”.

That aptly describes this unspeakable example of Soviet genocide, its longest and broadest experiment in Russification and, in so doing, the destruction of an independent nation.

It is worth noting that, for more than half a century, it was impossible to discuss this historic event openly. Indeed, under Stalin’s rule, even mentioning the famine carried the risk of execution or being sent to the gulag. Additionally, all evidence of the scale and true causes of the famine were hidden or fabricated. The statisticians who undertook the national census, which revealed the huge fall in the population, were killed. The Holodomor was written out of the Communist historical narrative; indeed, today, there is no specific recognition of this unique event in Russia.

In his book Proletarian Journey, Fred E Beal wrote:

“In 1933, I had occasion to call on Petrovsky, the President of the Ukrainian Soviet Republic … I said … ‘They say that five million people have died this year … What are we going to tell them?’ ‘Tell them nothing!’ answered President Petrovsky. ‘What they say is true. We know that millions are dying. That is unfortunate, but the glorious future of the Soviet Union will justify that. Tell them nothing!’”


A considerable number of other countries have recognised the Holodomor as genocide, as well as states in the United States, whose role in defending and protecting the territorial integrity of Ukraine in the current conflict is to be fulsomely applauded. I attended the Holodomor genocide memorial ceremony in Washington DC in November 2015. Since 2006, the Holodomor has been recognised as genocide, starting with Ukraine, 33 other UN member states and the European Parliament; indeed, the Pope supports it too.

The Holodomor was indeed a calculated act of terror. The question is clearly: why should our country recognise the Holodomor as genocide? Surely now is exactly the right time. It is a clear message that we do not tolerate such cruelty and injustice. It would be received with jubilation by the people of Ukraine, whose gratitude and admiration for us is heart-warming, as in many respects we have done more than any other European country in supporting Ukraine in its hour of need. Also, so endearingly, this would be so well received by all the Ukrainians who are permanently or temporarily living in this country.

During a debate in May in another place, the Under-Secretary of State at the Foreign, Commonwealth and Development office said that the Government’s policy was to ensure that genocide determination should remain above politics, lobbying and individual political and national interests. However, he made it clear that the Government recognise the horrific nature of the Holodomor saga. The Minister indicated that His Majesty’s Government would recognise the event as genocide only if it was recognised by a court—for example, the International Criminal Court, the International Court of Justice or national criminal courts that meet international standards of due process. He confirmed the United Kingdom as part of the G7’s core group of nations looking at what additional mechanisms might be required to work alongside the International Criminal Court when it comes to countering crimes in Ukraine. He said that this was work in progress, so I hope that my noble friend the Minister can update us about that. In consequence, our Government have officially recognised only five instances where genocide has occurred: acts of genocide against the Yazidi people, acts of genocide in Srebrenica, Rwanda and Cambodia, and the Holocaust between 1933 and 1945.

I am grateful to have secured this debate. Although the rule is normally that debates cannot deal with issues from more than 30 years ago, it has been made possible by the clear relevance of the dramatic events in Ukraine today. Finding a way to accept the Holodomor as genocide would be a tribute to, and a remembrance of, all its millions of victims, underlying the terrible truth of this mass starvation. The time for recognition is now.

--- Later in debate ---

[Lord Risby (Con)]

My Lords, I thank all those noble Lords who have spoken this afternoon. I start with the noble Lord, Lord Alton, whose instinctive humanitarian feelings always resonate so incredibly powerfully in this Chamber. His experience of Ukraine and what he saw and understood was such a powerful message of support for the country, for all the right reasons.

I also thank the noble Lord, Lord Stoneham, who brings a considerable understanding of the Soviet system and its history. I thought his contribution was excellent in so many ways, although I would just very gently and politely mention, if I may, that there is a genocide convention. There is something which has been incorporated into the United Nations, and of course many countries, in addition to the European Parliament, have accepted the definition of genocide. It is up and running and I am sure that other countries will pursue it.

As for the comments from the noble Lord, Lord Collins, it is just so gratifying that in our Parliament, we have exactly the same view about the horror story that has descended on the Ukrainian people, echoing the barbarity that happened in the 1930s. However, the question politely posed by the noble Lord, given the views that have been forcefully expressed in another place, has an echo which requires closer thought by our Government at this time. I say to my noble friend the Minister, who, I know, is just part of the incredible committal of our country towards helping Ukraine: it is so gratifying to hear all the measures that are being put in place to deal with what happens post-conflict, not only in restoring the economy but in taking action against those who brought this brutality about. It is very gratifying indeed.

I thank all of your Lordships for their very valuable contributions. This has been an excellent moment to reflect on the parallel between what is happening today and what happened in those dreadful years ago.

Motion agreed.

Food Insecurity in Developing Countries due to Blockade of Ukrainian Ports

Lord Risby Excerpts

Thursday 21st July 2022 Lords Chamber

[Lord Risby (Con)]

My Lords, it is a great pleasure to follow the right reverend Prelate. I particularly congratulate the right reverend Prelate the Bishop of Southwell and Nottingham on his most informative and, frankly, moving speech. We all much look forward to his future contributions in your Lordships’ House.

I warmly congratulate the noble Lord, Lord Alton of Liverpool, on securing this debate, which is so timely as it underlines the brutality of Russia in threatening energy supplies to Europe and heading towards not only malnutrition but actual starvation of vulnerable people. I applaud the noble Lord, who always so admirably brings to the attention of your Lordships’ House human suffering and injustice, wherever they exist.

Last night, the think tank that I chair, the Council on Geostrategy, published a report titled Deepening British-Ukrainian Relations in a More Competitive Era. The foreword was signed by the Foreign Ministers of Ukraine and the United Kingdom. We have a relationship with Ukraine which began to take off most particularly in 2005 and has grown enormously since then. As I know, as a long-standing chairman of the British Ukrainian Society, there is huge personal admiration currently for our outgoing Prime Minister and his role in supporting Ukraine. But as I said last night in reassurance, and as I know is 100% supported by your Lordships, the freedom and security of Ukraine will, for us, be absolutely central irrespective of who the Prime Minister here is; of that, there is no doubt whatever.

We have heard the statistics. In peacetime 10% of global wheat exports come from Ukraine, 12% of maize and 37% of sunflower oil. There have been discussions under the United Nations umbrella, and particularly with the positive involvement of Turkey, to get food shipments out of Odessa, heading towards those parts of the Middle East and Africa which most particularly need wheat. It is truly shocking that Russia is, in practice, blocking real progress in this regard. Hints of positive movement have not been brought to fruition.

While huge efforts have been made to take this precious cargo to Romania, Moldova and Poland, there are severe logistical limitations. The port of Odessa has always been and remains the exit port for food products from Ukraine. Historically, Ukraine has been the breadbasket of not only the old Soviet empire but much of Europe. The silos are now filled and only a small fraction can be substantially moved out of the country by road or rail. Shocking too is that the violence meted out to Ukrainians and the wanton destruction we witness each day have been aggravated by Russians taking wheat supplies for themselves.

This brings me to the substance of our debate. David Beasley, director of the UN World Food Programme, bluntly warned that

“50 million people in 45 countries are now just one step from famine.”

This is true nowhere more so than in east Africa and the Horn of Africa. As has so frequently been highlighted, climate change and often poor agricultural activity have been added to by four years in a row of failed rainy seasons and the after-effects of the Covid pandemic. There is real violence and instability, particularly in Ethiopia and Eritrea; in the latter case, all wheat imports are from Russia and Ukraine. In common with so many countries, price shocks are playing their part in social dislocation and instability. The IMF has made it clear that potential food price increases will disproportionately affect Africa.

But I return to Ukraine because, even before the current invasion, there was massive displacement of millions of people in Ukraine after the de facto occupation of the eastern part of the country. More latterly, millions of people fleeing the country are leaving behind a colossal bill to rebuild it, in due course. This is having a devastating impact on the livelihood of farmers, many of whom have been subject to violence and attack.

I also bring your Lordships’ attention to the situation in Egypt, which has seen an explosion of its population. Egyptians consume around 37% of their calories from wheat and 25% of their imports are from Ukraine. In 2010, food supplies and distribution problems undoubtedly provided a backdrop for extensive protest. There has been rioting in Iraq and there is real concern in Egypt that there could be violent social instability. Your Lordships know all too well that problems and protests in Egypt often spread elsewhere in the region. The Minister is well aware of this, so I know that many of your Lordships will be anxious to hear about any additional support, either singly or collectively, to the most vulnerable areas we are talking about.

We have been made very aware of migratory flows in recent years. In Europe, we are particularly conscious of this but, if you examine the statistics, they reveal a massive increase in migratory flows on the continent of Africa. For example, between 2015 and 2019 the number of migrants from Burundi living in Uganda increased by 69%, and migrants from Ethiopia living in Somalia increased by 42%. Many migrants in Djibouti and Rwanda have escaped from the Democratic Republic of the Congo. The number of Eritreans who managed to get to Europe virtually doubled in the same period, but the food crisis, as a result of the savage and unprovoked attack on Ukraine by Russia, will undoubtedly hugely increase migratory flows, most particularly within Africa but inevitably to Europe as well.

I once again express my gratitude to the noble Lord, Lord Alton. It is a terrible irony, as has already been expressed, that Stalin in effect starved millions of Ukrainians for not complying with his takeover of their lands—the Holodomor. It is a tragic irony that modern-day Russia may yet again cause the death of huge numbers of people who are totally removed from the conflict that the Russians have initiated, without the slightest justification.

Queen’s Speech

Lord Risby Excerpts

Wednesday 18th May 2022 Lords Chamber

[Lord Risby (Con)]

My Lords, there are clear lessons to learn from the Covid pandemic and the brutal war against Ukraine. While globalisation has brought many benefits, not least to this country, we have learned how all of us have become dependent on unreliable providers of essential products. The terrible war has further underlined the new reality threatening economic and political stability, for which all of us are paying a price.

Last year I spoke in praise of the assistance we have quietly given to Ukraine through Operation Orbital over the last six years. The British Army has trained Ukrainian forces, our Royal Navy vessels have regularly visited Black Sea ports, and we have persuaded NATO that its south-eastern quadrant was potentially as vulnerable as the Baltic states. Having been chairman of the British Ukrainian Society for many years, and as a recipient of a huge number of messages from Ukraine, I can confirm that the intense feeling of gratitude towards us is truly and deeply felt.

Global supplies of many key crops, including wheat and seed oils, have been devastated by this assault on Ukraine, causing a collapse in exports to the Middle East and north Africa and resulting in food riots and even starvation in some directly affected countries. Lebanon, which is already fragile and to which I am the Prime Minister’s trade envoy, has been importing up to 64% of its wheat from Ukraine alone. The blockade by Russia in the Black Sea to prevent grain exports from Odessa remains a horrendous problem as Ukraine valiantly seeks to find new export and safe routes elsewhere. Russians are flouting the freedom of the seas and maritime law, which are so fundamental to us as a maritime power. The interlocking supply chain crisis relating to Covid-19 and now food and energy distribution has a common cause: the actions of authoritarian regimes, in consequence disrupting international supply chains on which we, like so many others, have come to depend.

But we must now look to the future. The horrors of the war against Ukraine have prompted renewed unity among the democratic powers. NATO, once again a demonstrably more powerful defence alliance, has seen its purpose revitalised. It is perfectly true that, in the next 10 years, 90% of world economic growth will likely happen in the Indo-Pacific region, but the Ukraine crisis has shown that collective European values have reasserted themselves. I hope that we can use this opportunity to recalibrate our European relationships on the basis of mutual respect. Britain is clearly the premier European military power, as acknowledged by our European neighbours, and we have shown no lack of willingness to deploy our military and intelligence resources. In assisting Ukraine and pushing back Russian aggression, Britain has received praise across the entire Euro-Atlantic area.

The engagement of the United States has been welcome and profound, but we must inevitably face the dependence of the continent of Europe on that country’s wholly disproportionate financial and military contribution to our security and way of life. This country and others like it across the world need to be ready to pay the financial cost of freedom by investing more in our Armed Forces and diplomatic reach. The remorseless underfunding of our diplomatic service is wholly misplaced. As one very supportive ambassador recently said to me while in London, this seems beyond perplexing for the concept of global Britain. Last year’s integrated review is not just about tilting towards the Indo-Pacific and building new multilateral structures to uphold an international order. It is about strengthening the democracies of the Euro-Atlantic and ensuring they remain relevant and engaged in a period of major geopolitical change.

Nagorno-Karabakh

Lord Risby Excerpts

Monday 15th November 2021 Lords Chamber

[Lord Goldsmith of Richmond Park (Con)]

My Lords, the UK notes the ceasefire agreement reached in November last year. Both countries had to make difficult decisions to secure stability and peace, and it is important that remaining issues relating to the conflict are resolved through negotiation. In particular, the OSCE Minsk Group is the obvious and key forum for this, facilitated by France, Russia and the US. The UK is not a formal member of the OSCE but we continue to support its efforts to negotiate a permanent and sustainable settlement.

[Lord Risby (Con)]

My Lords, for years, one of the major causes of tension and violence has been the lack of a clear and mutually acceptable demarcation of the international border. Although the border agencies of both Armenia and Azerbaijan are now in contact, given our close connections in the region, have we considered assisting or promoting this vital process, which is essentially technical, on the basis of clear international principles?

[Lord Goldsmith of Richmond Park (Con)]

My Lords, as I said, the UK supports the OSCE Minsk Group process and, alongside that, the basic principles. Last updated in 2009, these include a return of the occupied territories and the acceptance of a free expression of will on the status of the Nagorno-Karabakh region.

Integrated Review of Security, Defence, Development and Foreign Policy

Lord Risby Excerpts

Thursday 22nd April 2021 Lords Chamber

[Lord Risby (Con)]

My Lords, the very first world leader to have a personal meeting with the new US President was the Prime Minister of Japan. The posture of China has understandably increased nervousness and alarm in Japan, Korea, Taiwan and elsewhere. That meeting underlined the significance of the renewed emphasis of our own commitment to the Indo-Pacific region, but this assessment in our integrated review also needs to be put in the context of our commercial considerations.

Japan chairs the CPTPP, the Trans-Pacific Partnership, an area of rapid economic growth and opportunity, and is supporting our bid for membership. This is very important, as we need a strong economic power base to protect our own future prosperity and security. Japan is committed to a free and open Indo-Pacific region. In the face of the current undermining of the rules-based international order, I ask my noble friend how we can assertively promote our own long-standing commitment to such an international order, given its immense importance.

British geostrategy has been largely based on the Euro-Atlantic theatre. Our newly emphasised commitment to the Indo-Pacific region does not preclude Britain being at the very heart of the security of the Euro-Atlantic region, where the bulk of the UK’s security focus will remain—and with reason.

I chair the British Ukrainian Society. The massive build-up of Russian armed forces on the country’s border reminds us of Russia’s continuing aggression. It is truly astonishing that Nord Stream 2 will increase dependence on Russian gas supplies, which have been operated with pricing mechanisms according to purely political criteria. It is of course most damaging to the Ukrainian economy, which will now be bypassed. I ask my noble friend, given that the review describes Russia as the most acute direct threat, how in practice we can deal with the serious challenge it is presenting?

Furthermore, in Europe we must assert the absolute necessity of defence burden sharing. We can be grateful to the United States for continuing to pay 70% of NATO’s budget. Without this, our vulnerability in the European continent would be much greater.

The review recognises Euro-Atlantic interconnectivity with the Indo-Pacific, where Britain will establish a greater presence than any other European country—most welcome to our friends in the region and the United States.

Since independence, India has sought to pursue a foreign policy not linked to any particular international grouping. India is crucial as an investor in this country. I hope that democratic India can play its role increasingly in protecting the Indian Ocean. Through our enhanced naval capability, notably HMS “Queen Elizabeth”, I hope we can work with India to effect this. Additionally, our ambition to enhance our scientific capacity can be shared with the high digital skills base in that country.

I very much welcome the clear emphasis on science and technology. Our inventive genius has not always been matched by subsequent commercial success. Building on this vital area and helping explicitly to combat climate change must remain key pillars as we recommit to a more focused role in the world.

Economy: Remittances

Lord Risby Excerpts

Thursday 4th February 2021 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

Of course, I look forward to meeting the noble Lord on that last point. We are looking at particular processes, especially in countries such as Ghana, Nigeria and Somalia, and I am sure that will form the basis of our discussions.

[Lord Risby (Con) [V]]

My Lords, does my noble friend agree, particularly in current circumstances, that it would be desirable to have an international drive to scale up digital solutions, complete with the integration of fintech, if we are to be more innovative in facilitating less costly cross-border transactions?

[Lord Ahmad of Wimbledon (Con)]

My Lords, I agree with my noble friend. The UK supports the Financial Stability Board’s work to enhance cross-border payments, and we will work through the ambitions set at the last G20. I have alluded to the work of the G7; as I said, the UK encourages innovative fintech solutions connecting cross-border mobile wallets, because it is much easier and cheaper to send remittances in that way. We support that objective.