Contributions
2,217 recent contributions in Hansard
HANSARDBank of England: Interest Rate PolicyMy Lords, growth is better this year than predicted and expected by some. The UK is not alone in facing high inflation. Core inflation in the UK is lower than in more than half of…12 Jul 2023HANSARDBank of England: Interest Rate PolicyWhile I will not be tempted by my noble friend to comment on the conduct of monetary policy, I agree that, in the context of high inflation, fiscal responsibility and keeping…12 Jul 2023HANSARDBank of England: Interest Rate PolicyOn the noble Baroness’s first point, my initial Answer set out that the Government continue to be committed to the independence of the Bank of England. She is right that…12 Jul 2023HANSARDBank of England: Interest Rate PolicyMy Lords, I agree with my noble friend that the Bank of England should be and, indeed, is accountable for the decisions that it makes, but it is not for government to comment on…12 Jul 2023HANSARDBank of England: Interest Rate PolicyMy Lords, we constantly monitor the UK economy’s performance and outlook, and we acknowledge the pain that rising interest rates are causing for many households. However, setting…12 Jul 2023HANSARDBank of England: Interest Rate PolicyMuch as noble Lords continue to ask me to comment on the conduct of monetary policy by the Bank of England, as I said, the Government do not comment on the conduct or…12 Jul 2023HANSARDBank of England: Interest Rate PolicyThe Bank of England is accountable to both the Government and Parliament. The noble Baroness referred to a report being done by the Economic Affairs Committee in this House. I am…12 Jul 2023HANSARDConsumer Rights Act 2015 (Enforcement) (Amendment) Order 2023My Lords, the order will enable trading standards to fully exercise its investigative powers to check compliance with the Tobacco Products (Traceability and Security Features)…12 Jul 2023HANSARDConsumer Rights Act 2015 (Enforcement) (Amendment) Order 2023My Lords, I thank both noble Lords for their contribution to this short debate. I am afraid that the speed of our debate might mean that I will need to write to them regarding…12 Jul 2023HANSARDSupply and Appropriation (Main Estimates) (No.2) BillThat the Bill be now read a second time.10 Jul 2023HANSARDGross Domestic Product: Wales and the UKMy Lords, the latest Office for National Statistics data show that in 2021 gross domestic product—GDP—per head, at current prices, was £25,665 for Wales and £33,745 for the UK.…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKMy Lords, perhaps I can provide a little reassurance to the noble Lord. Yes, the gap between GDP per head in Wales and the rest of the UK is too large, but Wales has had the…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKMy Lords, I agree with the noble Lord about the importance of investing in prevention. That is why we have invested in our education system, and we have seen our educational…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKMy Lords, the UK has an excellent track record in delivering offshore wind, and I am sure that that will continue. As I have said, we are investing across Wales, and that includes…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKI reassure the noble Lord that levelling up is not viewed through the prism that he says it is. When it comes to the looking at the needs in Wales and the funding to be matched to…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKJust to reassure the noble Lord with regard to Wales, in the first two rounds of the levelling-up fund, £330 million has been invested so far. That exceeds the commitment that 5%…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKIt is hard to tell from the other side whether there is a success story or not when it comes to Wales. I think that the best success comes when the UK and Welsh Governments work…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKI can give the noble Lord that assurance.06 Jul 2023HANSARDGross Domestic Product: Wales and the UKThe statistics that the noble Baroness refers to are more experimental than the ones that I used in my Answer, but they are being refined all the time and they can be subject to…06 Jul 2023HANSARDGross Domestic Product: Wales and the UKThe classification of these matters is for the ONS, and I shall get the ONS to write to the noble Lord.06 Jul 2023