Business of the House

Lord Sikka Excerpts

Wednesday 6th December 2023 Lords Chamber

[Lord True (Con)]

My Lords, I thought that question had strayed from the House of Commons, so I was not planning to give it an answer.

[Lord Sikka (Lab)]

My Lords, I am not sure whether this is the appropriate place to ask some questions about the way we do business in this House, but I will try. The brief background to my point is this: ever since BHS’s demise in 2016, the Government have promised legislation that has not materialised. Then, on 19 July 2023, the Government published a draft statutory instrument, the Companies (Strategic Report and Directors’ Report) (Amendment) Regulations 2023. It was scheduled to be debated in this House on 17 October, as per the business papers. However, the afternoon before, the Government issued a press release stating that the proposed legislation had been withdrawn. The next day’s business papers in this House, on 17 October, said that the Department of Business and Trade had withdrawn the regulations that were due to be debated on that day. No other statement was made to this House. Can the Minister explain why no statement was made to the House when the announced legislation was withdrawn? I am sure he would agree that press releases are no substitute for Statements and Questions in Parliament. Will he now ensure that the relevant Minister comes to this House to make a Statement about this withdrawn legislation and take the appropriate questions?

[Lord True (Con)]

My Lords, many thousands of statutory instruments are tabled in draft every year under every Government. It is not usual to make a Statement in Parliament on rescheduling statutory instruments. In relation to these draft regulations— I am grateful to the noble Lord for giving me notice on the subject about which he was concerned—the department had carried out a call for evidence to inform a review of existing non-financial reporting. This high- lighted strong support from both UK business and investors for existing company reporting to be simplified and streamlined. The Government therefore decided that it would be better to consider the reporting measures contained in the draft regulations alongside wider reforms to deliver a more targeted and effective corporate reporting framework. I know that the noble Lord is a great enthusiast for laying regulations on business, which does, in fact, destroy jobs in the end, but there is a wider review going on. I hope that the noble Lord will accept that explanation.