Contributions
1,280 recent contributions in Hansard
HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)Clause 3 gives His Majesty’s Treasury the power to issue the bank with a strategic steer. We talked about that earlier as a mechanism by which the Government of the day can…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)My hon. Friend makes a very fair point. I will be happy to facilitate meetings between her— expert in transport as she is—and the infrastructure bank to get into some of those…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)My hon. Friend makes a very wise and informed point. The UK Infrastructure Bank is not the only intervention that the Government make; the British Business Bank has a broad…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)Clause 2 is of central importance to the policy remit in which the bank will operate. I think that is why we have heard so many different—sometimes contrasting—views about how…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)These amendments are a proof positive of the Government having listened. If the hon. Member is so crushingly sceptical, perhaps he will oppose the amendments, which have been…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)This group concerns provisions that will, I hope, gladden the heart of the hon. Member for Glasgow East, because they add a duty to consult the devolved Administrations on the use…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)I beg to move amendment 3, in clause 2, page 2, line 16, at end insert— “(7A) The Treasury must consult the appropriate national authority before making provision in regulations…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)The steer provided from time to time in the context of the wider oversight of the investment bank, under its statutory objectives—effectively, the interpretation layer—is the…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)Sorry?22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)That is what I am suggesting.22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)The amendments would remove both the Lords amendments. Government amendment 1 would remove the addition of “nature-based solutions” and “structures underpinning the circular…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)I beg to move amendment 1, in clause 2, page 1, line 23, leave out from “includes” to “technologies” on line 24. This amendment would remove the reference to “structures…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)As I have laid out, the Government’s position is that the steer to the bank, which is flexible and can be updated from time to time, rather than requiring primary legislation—it…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)The amendments broaden the definition of “public authority” used in relation to the bank’s capacity to lend. The drafting as is broadly meets the policy aims and would allow the…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)I beg to move amendment 8, in clause 2, page 1, line 18, leave out “relevant”. This amendment, and Amendment 9, would clarify that the Bank can provide loans to public authorities…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)The hon. Lady makes a very fair point on the valiant role of lawyers in keeping us all to account. The alternative, of course, is legislation that is clear and allows the…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)The right hon. Lady will have to talk to her Front Bench if that is the official policy, but I assure the Committee that it is not the policy of the Government.22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)Thank you, Mr Davies. The Government think that the aim of reducing regional inequality is already implicit in the bank’s current objective. As my right hon. Friend the Member for…22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)My reference to “scope” related to the broad set of industrial policies laid out by the hon. Member for Erith and Thamesmead, not to the wording of the amendments.22 Nov 2022HANSARDUK Infrastructure Bank Bill [ Lords ] (First sitting)I will write to my hon. Friend on the calculation of that return. The UK Infrastructure Bank is subject to the full panoply of disclosures, sanctions and accountability, not just…22 Nov 2022