Results 1-20 of 69 for speaker:Lord Tugendhat

India: Aid — Question (15 May 2013)

Lord Tugendhat: My Lords, India has one of the most rapidly growing economies in the world—

India: Aid — Question (15 May 2013)

Lord Tugendhat: Does the noble Baroness not agree that as India is one of the most rapidly growing economies in the world, with a very substantial space programme, a foreign aid programme of its own and an ambitious defence programme, the responsibility for dealing with its very considerable social problems rests with the Government of India? The purpose of British aid should be not only to help very poor...

Queen's Speech — Debate (3rd Day) (13 May 2013)

Lord Tugendhat: My Lords, I will focus on one of the biggest disappointments of our economic reforms over the past few years. I refer to our failure to expand our exports as rapidly as had been hoped, and in particular to expand them outside the eurozone, despite the 20% devaluation of sterling on a trade-weighted basis since 2007. Ministers invariably place the blame for this on the sluggish performance of...

Enterprise and Regulatory Reform Bill: Report (4th Day) (Continued) (11 March 2013)

Lord Tugendhat: The noble Viscount used the words "any change in policy". Am I right to understand him to mean that if there was a change in the remuneration of two or three directors, or even of just one director, during the course of 12 months, the total pay package would have to be put to the AGM that year and could not be held over for two or three years, or whatever was left? Would it have to be voted...

Enterprise and Regulatory Reform Bill: Report (4th Day) (Continued) (11 March 2013)

Lord Tugendhat: My Lords, I would like to address the noble Lord's point about annual approval. I spoke in favour of annual approval on Second Reading, and I am a little surprised to be speaking on it again on Report. I gained the very clear impression from the wind-up speech of the then Minister the noble Lord, Lord Marland, that there would be annual approval. In referring to the noble Lord, Lord Gavron,...

DfID: Tied Aid — Statement (11 March 2013)

Lord Tugendhat: Does the Minister agree that Africa is now one of the fastest growing regions in the world and that we should all be very pleased about that? Aid is now a relatively small proportion of the disbursements that go from the developed world to what used to be called the developing world. Remittances and direct investment have grown enormously, and the role of aid is far less significant than it...

European Council — Statement (11 February 2013)

Lord Tugendhat: My Lords, I think it is the turn of this side of the House. As a former budget Commissioner, perhaps I may add my congratulations to those of others to the Prime Minister on his achievement. I also emphasise the points made by my noble friend Lord Howell about the importance of alliances. This shows that when alliances are built up, results can be achieved, something that many people would...

European Union: Recent Developments — Motion to Take Note (17 December 2012)

Lord Tugendhat: My Lords, I declare an interest as I was a European Commissioner for some eight years. Watersheds in politics generally become apparent only with hindsight but I suspect that 2012 will prove to have been one for the European Union. It has of course been dominated by the crisis in the eurozone. The eurozone has survived in one piece but at a very heavy price. Not so long ago, the European...

Enterprise and Regulatory Reform Bill — Second Reading (14 November 2012)

Lord Tugendhat: My Lords, this is a wide-ranging, detailed and innovative Bill but I will concentrate on one aspect of it, as the noble Lord who has just spoken did, and that aspect is directors' remuneration. I congratulate the Government on tackling this issue. They have not done as much as I would have liked or as some other people would have liked, but they have created a precedent and a platform on...

EAC Report: Development Aid: Motion to Take Note (22 October 2012)

Lord Tugendhat: My Lords, it is a pleasure to follow the noble Earl, but I am afraid that I shall be taking a somewhat different line on a number of issues to those that he put forward. However, I should like to begin, as did the noble Lords, Lord Lawson and Lord Shipley, who are on the committee, by paying tribute to the chairmanship of the noble Lord, Lord MacGregor. It was an outstanding feat to bring us...

Financial Services Bill: Committee (1st Day) (26 June 2012)

Lord Tugendhat: May I add a question so that the Minister can answer both together? The Minister is dealing with these matters with such grace and elegance that I feel very bad in questioning his or the Government's motives in any way. Nevertheless, when we were dealing with the question of whether the chairman should be consulted on the appointment of the governor, basically what the Minister said was that...

Financial Services Bill: Committee (1st Day) (26 June 2012)

Lord Tugendhat: My Lords, I agree with what the noble Lord, Lord Burns, has just said. This is an admirable amendment, and I agree with almost all of it. There is one point I am going to raise in a moment, but I do not see why it cannot be done by the court. The fact that the Government have gone to all this trouble to set up a committee instead of leaving it in the court means that one wonders what lies...

Financial Services Bill: Committee (1st Day) (26 June 2012)

Lord Tugendhat: My Lords, I support the amendment of the noble Lord, Lord Eatwell. He draws the lesson from what happened to the outside directors of the Monetary Policy Committee. It might be said that the Bank has learnt its lesson on that and that the situation will not arise in the future, but as I pointed out at Second Reading, the Bank has behaved unacceptably in relation to having an inquiry into its...

Financial Services Bill: Committee (1st Day) (26 June 2012)

Lord Tugendhat: My Lords, I was unable to participate in the early stages of the debate this afternoon because I was at a Select Committee, but now that I am here I should like, on the basis of experience, to support the proposition of my noble friend Lady Wheatcroft-not experience of the court of the Bank of England, I hasten to add, but of the European Commission. The President of the European Commission...

Directors' Pay — Statement (20 June 2012)

Lord Tugendhat: My Lords, I congratulate the Minister on the robustness of this Statement. I was disappointed when there was nothing in the gracious Speech on this subject but what she has announced today was well worth waiting for. I cannot help feeling that some of the contributions from the party opposite are redolent of foxes being shot. This makes a very important start on what is an important issue and...

Banking Reform — Statement (14 June 2012)

Lord Tugendhat: My Lords, I welcome the Statement and I congratulate the Government on the speed at which they are moving. I have one question: where one part of a bank is within the ring-fence and one part is outside, does the White Paper say anything about auditing? Would one expect there to be the same auditors for both parts of the bank, or would they expect to have different auditors? Does the White...

Companies: Executive Remuneration — Question (13 June 2012)

Lord Tugendhat: My Lords, encouraging as the Minister's replies are, does he not agree that this matter is now urgent? No doubt he will be aware that last year, the total remuneration of FTSE chief executives increased by a further 10%, on top of the very substantial increases of recent years. That is quite out of line with the performance of share prices, with the economic performance of the country, and...

Financial Services Bill — Second Reading (Continued) (11 June 2012)

Lord Tugendhat: My Lords, I will not follow the noble Lord, Lord Mawson, down the Lea Valley but I should like to revert to the causes of the troubles in 2008, for which I think there were two main reasons. First, by far the most important was the belief in light-touch regulation, to which both main parties, the financial community, most economists and commentators, and I at that time, subscribed. To this...

Queen's Speech — Debate (5th Day) (16 May 2012)

Lord Tugendhat: My Lords, my big disappointment in the Queen's Speech is the absence of a Bill to deal with top executive pay. Mr Cable appeared to promise one and it is long overdue. In the previous Parliament, the noble Lord, Lord Gavron, introduced such a Bill, which I supported, as did the noble Lord, Lord Taverne, and several other noble Lords from both sides of the House. I am pleased to see that he...

Aviation Policy — Question (14 May 2012)

Lord Tugendhat: Does my noble friend not agree that Heathrow and Gatwick are two great national assets? The expansion of both airports would do wonders for the British economy. It would be very beneficial, in terms of both the work that would be done in the short term and the expansion of capacity. If the Government refuse to allow a third runway at Heathrow, they will be imposing a brake on the growth of...