Results 61–80 of 3203 for speaker:Lord Flight

Universities: European Union Students - Question (15 Mar 2017)

Lord Flight: My Lords, the last figure I saw of the estimates of student loans likely to have to be written off was a pretty horrific £45 billion. What is the Government’s present estimate?

Budget Statement - Motion to Take Note (14 Mar 2017)

Lord Flight: My Lords, I congratulate the right reverend Prelate the Bishop of Chester on his speech, much of which I agree with. I think that the Chancellor is a good and decent man, and when I read his Budget it all sounded pretty reasonable on a first read, if a little dull, but in no time there had been a political explosion. We all know what the issue was—class 4 NI—but, stepping back, what then...

Criminal Finances Bill - Second Reading (9 Mar 2017)

Lord Flight: My Lords, I first declare my interest as in the register, and in particular as director of Metro Bank and as a regulator in Guernsey. I very much echo Dominic Raab’s comments on this Bill in the other place. I want Britain to be a competitive and successful global hub open to international talent, as it has been for 400 years, and I want us to be known the world over for our integrity, our...

Careers Advice and Guidance - Question (6 Mar 2017)

Lord Flight: My Lords, I believe that something like 58% of graduates are employed in what are described as non-graduate jobs. I suggest that part of the reason for that is that there is not an efficient functioning of the guidance of young people at university into career areas that are suitable for them. Indeed, as has been commented on, a lot of people are not even aware that there is advice at...

European Union (Notification of Withdrawal) Bill - Committee (1st Day) (27 Feb 2017)

Lord Flight: On the territory about which the noble Lord is talking, I cannot understand, if negotiations have gone on for two years or more and we have finally agreed all the thousands of things that need to be agreed, how we could possibly then put it to a vote. The whole process of negotiating the deal with the EU will not work if we have a vote at the end.

European Union (Notification of Withdrawal) Bill - Second Reading (1st Day) (20 Feb 2017)

Lord Flight: My Lords, I congratulate the Prime Minister and the Government on the professional, cautious and polite way in which they have managed Brexit proceedings. It is no surprise that the Prime Minister clearly has a substantial proportion of the country behind her. We all know that this is a short, very simple Bill about enabling the Prime Minister to give the European Commission notice of our...

Commonwealth Development Corporation Bill - Second Reading (and remaining stages) (9 Feb 2017)

Lord Flight: My Lords, I congratulate the noble Lord, Lord Bates, on his excellent introduction to the Bill. I declare my interests as set out in the register. I greatly welcome the Bill and wish to speak out in support of it and the CDC. What it has done over the last five years or so is no mean achievement, making successful investments in parts of the world that are difficult to operate in. It has...

Pension Schemes Bill [HL] - Report (Continued) (19 Dec 2016)

Lord Flight: My Lords, Amendments 11 and 12 in my name seek broadly the same objective as those of the noble Lord, Lord McKenzie, and would enable a funder to do other things but subject to the regulator having to approve them. The fundamental issue here for the insurance industry is that the funder being a separate entity does not really work. The Bill will introduce additional cost on master trusts...

Brexit: Invocation of Article 50 - Question (19 Dec 2016)

Lord Flight: My Lords, would my noble friend agree with me in regretting certain aspects of behaviour by the Commission, such as deliberately cold-shouldering the Prime Minister and not inviting her to dinner and then claiming £50 billion in expenses? This sort of behaviour is not constructive to arranging a sensible deal with Europe going forward.

Affordable Housing - Question (15 Dec 2016)

Lord Flight: My Lords, does the Minister accept that buy to let has been extremely important in the provision of additional accommodation, particularly in London and the south-east? Is he concerned that the increase in taxation on buy to let may reduce the number of units, relatively speaking?

Short-term Holiday Lets - Question (8 Dec 2016)

Lord Flight: My Lords, is not the essence of the problem in London that local authorities are not using their powers? I understand that 61% of all the homes and apartments on Airbnb were listed as being available for more than 90 days. How can that be when 90 days is the limit? Clearly, local authorities are disregarding the breach of that rule.

Pensions: Tax Relief - Question (6 Dec 2016)

Lord Flight: My Lords, does the Minister not agree that the ISA as it stands is an attractive vehicle for people to save for their old age anyway? A mixture of a pension, where tax relief is up-front but you pay tax on income, with an ISA, where there is no tax relief up-front but you get tax-free income when you retire, is a perfectly reasonable proposition. Why do we want to clutter it up with some...

Autumn Statement: Economy - Motion to Take Note (29 Nov 2016)

Lord Flight: My Lords, I very much agree with what the noble Lord, Lord Bilimoria, said about Indian students coming to the UK and the disappointing fact that the mission to India did not really address that. I also agree with his comments about needing a larger manufacturing sector. However, he seemed to be quite blind to the fact that the main reason why we have an inadequate manufacturing sector is...

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: My Lords, I thank the Minister for his response. I think that if the Government talked to everyone in the pension fund industry and to many of the large companies in this country, they would all tell a similar story: that the present discounting rate hugely exaggerates the reported scale of deficits. It is an important issue and I wish the Green Paper good luck because, clearly, it is most...

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: I thank the Minister. I will paint a particular picture. Some 95% of group personal pension schemes will typically be in default funds. Where the sponsor and, if it is a master trust, the trustees observe that the fund management performance has been poor, they will often conclude that they want to change. They have an ability to write to all members to advise of this and to advise them to...

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: My Lords, my objective was to raise the issue of bulk transfers and to understand what government policy is both for master trusts and for other forms of retail pensions. I am particularly pleased to hear that for master trusts, bulk transfers trump voluntary requirements. It is a wider territory than just master trusts, but I beg leave to withdraw my amendment. Amendment 80 withdrawn.

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: My Lords, the proposed new clause that Amendment 81 would insert raises the other issue I raised at Second Reading, which relates to defined benefit schemes. I raise it because it is of growing economic importance for us to know the extent of real pension fund deficits in this country. Calculated under FRS 17, which now seems to be known as FRS 102, or even IAS 19, this is reputed to be as...

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: My Lords, Amendment 80 proposes a new clause that would enable the trustees of master trusts, or the sponsors or sometimes the managers of group personal pension schemes, to require the transfer of accumulated assets from default funds when moving from one investment manager to another. The issue here is that at present the agreement of the individual members of the scheme is required, but...

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: To clarify, my amendment is about bulk transfer where the trustees deem it desirable to move from, say, one fund manager to another.

Pension Schemes Bill [HL] - Committee (2nd Day) (28 Nov 2016)

Lord Flight: Essentially, fund manager, but they may, in the case of a master trust, be the same.


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