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Results 81–100 of 1477 for speaker:Lord Maples

Banking (Special Provisions) Bill [Ways and Means]: Clause 6 — Transfer of property, rights and liabilities (19 Feb 2008)

John Maples: The problem is actually worse than the hon. Gentleman has described, as Granite's loan-to-value ratio is more than 100 per cent. Mortgages are placed in Granite to securitise a loan that is for a smaller amount so, if the security had to be exercised, the mortgages could be sold at a discount. I think that what is left is actually worse than the hon. Gentleman is making out.

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: The right hon. Member for Holborn and St. Pancras (Frank Dobson) should applaud all the losses, because they have been a gift of billions of dollars from big international banks to poor people who could not otherwise have got mortgages; I would have thought that he would be in favour of such Robin Hood-ery. I want to make a couple of points. If a bank were not involved, we would not be...

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: It has a cash flow from mortgage repayments and interest payments. Serious consideration should have been given as to whether the bank should just sit back, make no new loans, collect the interest and repayments on debts as they flow in, and, if and when the market recovers, perhaps securitise and sell off some of the other mortgages. That would be the fastest and probably the most secure way...

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: Yes, of course I understand that. It may be possible, if market circumstances change, to refinance those vehicles and the other mortgages that are not within them. However, I still think that the securest way of the taxpayer getting their money back is for the company to stop doing new business, stop making new loans and just collect the cash flow as it comes in. That would pay off the...

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: Will the right hon. Gentleman give way?

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: Will the right hon. Gentleman give way?

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: rose—

Orders of the Day: Banking (Special Provisions) Bill (19 Feb 2008)

John Maples: I completely understand the hon. Gentleman's situation with his constituency; in his position, I might think the same thing. However, I do not think that he can argue that putting the bank into liquidation, for instance, and freezing the situation as it is now—we are told the loan book is good—would leave the taxpayer in a worse position than letting the bank go on, making more and more...

Oral Answers to Questions — Work and Pensions: Northern Rock (18 Feb 2008)

John Maples: The Chancellor does not really believe all this stuff about restructuring Northern Rock, returning it to the market and giving money to the Northern Rock Foundation. His responsibility is to get the taxpayer off the £100 billion hook that that they are on, so that should be first, second, third and fourth on his list. To that end—this is a genuinely honest inquiry—will he explain...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: Will the House be able to reach a conclusion on the matter before the summer recess?

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I think that I entered the House a little later than the hon. Member for Sunderland, South (Mr. Mullin), but I remember that one of the very first debates that I attended in 1983 was about Members' pay, and exactly the same issues that have been rehearsed today were rehearsed then. We sensibly decided on that occasion to link pay to a grade in the civil service. I did not think that it was...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I will get us into it once. There will be one unpleasant occasion on which we settle this and then we will not have to settle it again, certainly during the hon. Gentleman's political career and mine. It is possible that the issue will return during the political careers of some of our younger colleagues, but I think it will see us out. If we let the editorial writers of the Daily Mail and...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I am sure that none of the people who write those editorials would do the job even for the pay of the chairman of an immigration tribunal, let alone for what we get. I think that we must set our pay. I do not know whether the right level is this level or one considerably higher, but when we settle the uprating mechanism we need to settle the base from which that mechanism will operate. I...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: The hon. Gentleman should pay more attention to my speeches. I had a ten-minute Bill on this subject in which I laid out exactly how that should be done. I proposed that the boundary commissions should reduce the number over a period of time: they should do so in stages every five years instead of every 15, and reduce the number by a certain amount on each occasion. I do not have my eye on...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I do not think so, but this is not the occasion to debate that. I have instituted debates on the matter in the past, and I might try to do so again in future—and, if so, I would be happy to engage with my hon. Friend. Suffice it to say that I have 85,000 constituents and I do not think they have any difficulty in maintaining links with me.

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: rose—

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I was simply offering a way of introducing a productivity gain to finance the pay increase, which is something we demand of other people. Abolishing the communications allowance would go a long way towards addressing the problem. Let me conclude by reiterating my two main points. First, we need an uprating mechanism that does not involve annual, or even biannual, decisions, but that just...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: I do not think that the hon. Member for Sunderland, South (Mr. Mullin) is right. The reason that a whopping great increase, as he put it, is recommended every so often is that increases have been suppressed by the Government for the previous four or five years. That is what has happened on every occasion. If we had a mechanism, for example, for implementing whatever increase had been applied...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: As regards my right hon. Friend's continuing double act with the hon. Member for Reading, West (Martin Salter), the point is not whether we have an independent mechanism for recommending pay but whether the recommendation is implemented. When we have had recommendations from independent mechanisms in the past, the Government have tended to say, "That's too much—we're going to whip our...

Bill Presented: Members' Allowances (24 Jan 2008)

John Maples: The right hon. and learned Lady and I have been in the House a long time. In the past, we have set links, but the problem is that when that link produces a reasonable pay increase, the Government say, "We can't afford it and it blows a hole in public sector pay policy." Whatever the mechanism, we have ultimate responsibility for our pay increases. If we create a link and the result is that we...


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