Contributions
1,153 recent contributions in Hansard
HANSARDFinancial Services Bill (Eighth sitting)I thank the Minister for his explanation. As he said, this clause, schedule 9 and clause 25 create an overseas fund regime for establishing the recognition of collective…26 Nov 2020HANSARDFinancial Services Bill (Eighth sitting)We will come on to their reaction. It is extraordinary that a sector this important has been relegated so far in the Government’s priorities. It is absolutely extraordinary that…26 Nov 2020HANSARDFinancial Services Bill (Eighth sitting)That is the OBR’s estimate of the additional cost of a no-deal scenario, on top of the already long-term hit in the deal scenario. My hon. Friend is absolutely right to set that…26 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)The Minister said that he does not want to accept the amendment because he thinks it is in the wrong place. I would find that a little bit more convincing if I really thought he…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)I beg to move amendment 23, in clause 3, page 4, line 31, at end insert— “(9A) The Treasury must, within six months of making any regulations under this section, prepare, publish…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)The truth is that there is no science about what is exactly the best timetable for reviewing these things. I am not pretending that one of the various timescales that we have…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)I have a couple of questions, because credit rating agencies did not cover themselves in glory in the financial crisis, so I want to be clear about what clause 6 does and does not…24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)It is not an EU point.24 Nov 2020HANSARDFinancial Services Bill (Sixth sitting)I am grateful to the Minister, but it is not an EU alignment point that I am making. He is right that, yes, this has arisen because of a disalignment with the EU, but my point is…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I beg to move amendment 19, in clause 1, page 2, line 21, at end insert— “(7A) The Secretary of State must, within three years of this Act being passed, prepare, publish and lay…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I am a softly spoken and moderate man; it has not always done me good, but I am on track here at the moment. I want to respond to the Minister’s reasons for advising us not to…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)My hon. Friend is absolutely right. Perhaps there is even a fifth one, which is, “Wait for the consultation on something else.” The problem with going for pot three and saying the…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I do not really have substantial questions at this stage, because schedule 2 sets out the detail, and I think we will probably have an extensive debate on it.24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I just have a couple of questions for the Minister. He described the rationale behind the clause, but can he tell us how many firms we are talking about? How many of the…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I have just one question. The Minister mentioned country-by-country reporting, which we may come to at other points in the debate. Could he help the Committee by telling us what…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)I beg to move amendment 20, in schedule 2, page 63, line, at end insert— “(ba) the target for net UK emissions of greenhouse gases in 2050 as set out in the Climate Change Act…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)The hon. Lady is quite young, so she might be here in 10 years’ time—24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)Amendment 20 focuses on the new accountability framework for the FCA set out in schedule 2. If anyone wants to follow the detail, I am referring to the list at the top of page 63…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)My hon. Friend is absolutely right. Joining the dots is exactly what we should do. Of course, she is right that individual investment firms will make their own decisions on these…24 Nov 2020HANSARDFinancial Services Bill (Fifth sitting)Perhaps it is not her ambition to be here in 10 years’ time. Carbon capture and storage is back. There are more things that we will have to do, but all of those headings will need…24 Nov 2020