Contributions
2,622 recent contributions in Hansard
HANSARDFinancial Stability: Private Equity FirmsI do not agree with the noble Lord. As he will have seen in the Autumn Statement, the Chancellor set out significant tax cuts to encourage growth. That is where we are focusing…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsMy noble friend is absolutely right. We need the right flexible employment laws to ensure that private equity can continue to steward companies that employ millions of people.…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI am afraid I do not recognise the picture the noble Baroness paints, nor do I agree that private equity needs to be closed down. The Bank of England monitors the situation across…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsMy Lords, the Bank of England’s Financial Policy Committee is responsible for identifying and addressing risks to the stability of the UK’s financial system. The committee’s most…13 Dec 2023HANSARDFinancial Stability: Private Equity FirmsI reassure the noble Baroness that the Treasury works with the Bank of England and other regulators to monitor the system.13 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillMy Lords, I am grateful to all noble Lords who have participated in the passage of the Bill. It delivers on the Government’s long-term plan to grow the economy and reform the tax…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillThis potentially leads on to the next question from the noble Baroness, Lady Primarolo, about the percentage of mixed receipts that goes to the NHS. It is about 20%; 80% comes…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillThat the Bill do now pass.12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillMy Lords, I am enormously grateful to all noble Lords who have taken part in this relatively short debate. As your Lordships might expect, I did not agree with all the points,…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillMy Lords, I definitely was not lecturing the House—far be it from me to do so. However, it would obviously not be a debate without a Liberal Democrat mentioning Brexit. I am going…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillThe Minister is definitely not looking to expand the debate but is trying to make progress. I hear what the noble Lord says, and if he has read the Autumn Statement, which I am…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillI absolutely accept that the noble Baroness is right to say that you can look at it in a different fashion but, in terms of whether what the Government are doing is progressive,…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillI suspect that we are now moving into an area of debate where is not appropriate to go today, because there is business still to come in the House; I know that my noble friend is…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillMy Lords, the past few years have been a somewhat unhappy lesson in living through history, be that the impact of a once-in-a-generation pandemic or the shock waves of the largest…12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillThat the Bill be now read a second time.12 Dec 2023HANSARDNational Insurance Contributions (Reduction in Rates) BillI am grateful to be able to clarify that it is not set on a percentage basis at all. The amount of money that goes to the NHS is set in actual terms; for example, it is £160…12 Dec 2023HANSARDBanking HubsThere were many questions there and perhaps I will focus on the last one, which is where the FCA consultation comes to the fore. The proposals set out by the FCA are very detailed…11 Dec 2023HANSARDBanking HubsI think what the noble Lord has just set out is exactly what the Government are doing. The FCA consultation goes into an awful lot of detail on the criteria that will need to be…11 Dec 2023HANSARDBanking HubsThat is why the Government decided that it was time to legislate. We felt that the voluntary initiative was not coming along fast enough, and we legislated in the Financial…11 Dec 2023HANSARDBanking HubsMy Lords, since January 2022, the financial services sector has opened 23 banking hubs, with another 27 hubs expected by Easter next year. Following government legislation, last…11 Dec 2023