(5 years, 9 months ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
I am happy to give the hon. Lady that confirmation. Due process needs to be followed in all such decisions. As I have already said to the House, the powers are used rarely. They have been in existence for over 100 years after being set out by Parliament and put in place by this House. The last time that the House updated them was relatively recently in 2014, and they have been used by successive Home Secretaries of different political colours. On each occasion, such decisions are based on detailed expert advice, including national security assessments, intelligence and advice from lawyers.
The Home Secretary discharges his duties with diligence and care in the interests of British nationals, but in removing the citizenship of a suspected terrorist in the middle east and thereby passing the responsibility on to a less-developed nation, possibly with fewer resources, are we not potentially putting British nationals overseas at risk? As we leave the European Union, should we not be setting an example in how we take responsibility for people we consider to be a threat not just to British citizens, but to the world in general?
My hon. Friend makes a fair point and draws out the fact that each decision must be made on a case-by-case basis. There is sometimes a fine balance to be struck about the best way to protect the national security and citizens of this country, and such decisions are never easy. There should be no suggestion that citizenship deprivation is always used whenever it is considered, and it is sometimes not used because we try to balance out the best way, based on expert advice, to protect British lives.
(11 years ago)
Commons ChamberIt is possible, although it is difficult to answer that question specifically as it would depend on the legal process, as anticipated in the Bill. As I progress with my remarks, the hon. Lady will see the kind of actions that can lead to prosecution.
Does the Minister agree that a lot of the changes that are coming through as a result of PCBS recommendations should in some respects be treated rather like the nuclear deterrent? It is not necessarily about trying to punish people; it is about trying to drive behaviour that avoids a crisis in the first place. Had these rules been around at the time, it is far more likely that Fred Goodwin would not have led his bank over the cliff, that we would not have had the financial crisis, and that we would have a more stable banking system as a result. That is the intention behind the proposed law.
My hon. Friend has explained well the reasoning behind the recommendation from the PCBS—which, of course, he was part of—and the deterrent effect this change could have should not be underestimated.
I agree entirely. A number of professional bodies in the banking industry have a code of conduct. I, for example, am a fellow of the Chartered Institute for Securities and Investment, which has a code of conduct. Many people working in investment banks will be fellows of the CISI. Indeed, Sir Richard Lambert’s proposals, about which we shall hear more in the new year, will include a code of conduct. It is also worth bearing in mind that the banks are producing their own code of conduct that is being fed back to the regulator, which will consider what they are saying.
Let me wind up, because I think the Minister would like to speak at some point. I would be the last person to stand in his way, because I know that he will have some intelligent things to say. Suffice it to say that I think amendment 41 will prevent the behavioural changes we desire, and that is why I will reject it.
I thank the shadow Minister, the hon. Member for Kilmarnock and Loudoun (Cathy Jamieson), for her comments and all other—
(11 years, 3 months ago)
Commons ChamberHousehold debt peaked in 2008 at 170% of household income. Since then it has come down, but households are still very vulnerable to rising interest rates. Does my hon. Friend agree that any fiscal policy must give comfort to the bond markets in order to help the Governor of the Bank of England keep interest rates low and mitigate the effect of rising rates on households?
My hon. Friend is obviously referring to the fact that when this Government came to office, we had the biggest deficit in our post-war history. The previous Government were borrowing £5,000 a second—£300,000 each and every minute. We have reduced that deficit by a third and, as my hon. Friend suggests, that has brought confidence, investment and jobs.