Contributions
2,217 recent contributions in Hansard
HANSARDUK Infrastructure Bank Bill [HL]My Lords, the Committee’s debate on this group has helped to ensure that we have properly considered the purpose of the bank, particularly around its levelling-up and climate…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I think that the framework document sets out those limits and they are put in place, as it were, by the Treasury. That is my understanding of that interaction.14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I will endeavour to also get back to the noble Lord during this Committee—but, if I do not, I will include my answer in my letter on his noble friend Lord Teverson’s question…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I will definitely pick up on that further point of detail, which relates closely to the noble Baroness’s question about non-disclosure agreements, to which I will seek to get an…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]For the sake of the rest of the Committee, it may be worth me answering the noble Lord’s question during a subsequent group. I could make a good attempt now, but I think we will…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I am not sure that I or the noble Lord would actually use the analogy that he did, but I undertake to write to him to clarify that point on the senior managers regime. Coming back…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My Lords, as we have heard, these amendments all relate to the reporting on the bank and the content of any statutory review of the bank. Amendment 42A, in the name of my noble…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My Lords, this first group of amendments all cover the financial aspects of the bank. Amendment 1 in the name of my noble friend Lady Noakes and Amendment 53 in the name of the…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]In picking up the noble Baroness’s other point, I shall ensure that my response covers that specific point.14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]We absolutely will come on to discuss the power of direction. The basis that we wanted to establish is that the Government have two powers in the Bill: the power of direction and…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I think there are two elements to it: the bank is established under the Companies Act 2006, and as a matter of company law is operationally independent, and then, in terms of what…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My Lords, before turning to the detail of the amendments, I will give a short update on the bank’s recent appointments, as it has recently appointed its first non-executive…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I will be happy to go away and check on that point. I think that the intention is that they would be, but I will double-check. The period of 10 years has been chosen to allow for…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My notes say that it will be a Cabinet Office-led review, but as part of that process we—which I would take to mean the Treasury—will conduct the review. If that is incorrect, I…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My Lords, I hope noble Lords will forgive me if I do not give the game away too far ahead of Report in terms of our approach to listening to all the points raised in Committee. As…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]Perhaps I can pick that up in the letter. As this is a Lords starter, I believe we might have more time to deliver on legislative consent than when we receive Bills from the…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My understanding is that it has been very constructive, but perhaps I can write to noble Lords setting out further detail on that. Amendment 49 in the name of the noble Baroness,…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I understand the noble and learned Lord’s point, and recognise that I have been given notice that he will return to it at Report. All I was simply going to say was that I…14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]My Lords, I believe that there are a number of different routes by which the bank can ensure that it works closely with the devolved Administrations.14 Jun 2022HANSARDUK Infrastructure Bank Bill [HL]I think the Bill sets out that the Treasury does have the power to issue direction, and it will be published if it is ever used. We have heard about the precedents. Although I…14 Jun 2022