Results 1–20 of 1508 for (in the 'Commons debates' OR in the 'Westminster Hall debates' OR in the 'Lords debates' OR in the 'Northern Ireland Assembly debates') speaker:John Penrose

Oral Answers to Questions — Home Department: Topical Questions (4 Jun 2018)

John Penrose: On 6 April the USA announced tough sanctions against 24 Russian Government officials and oligarchs, including Oleg Deripaska, whose company floated here in London last year. When will we publish an equivalent British sanctions list on people whose presence and dirty money are not welcome on our shores?

East Coast Main Line (16 May 2018)

John Penrose: I welcome the Secretary of State’s response to my hon. Friend the Member for Wimbledon (Stephen Hammond), who asked about open access. The Secretary of State was clear that open-access services will be maintained, but may I ask him to go further? In preparing for the end of the current deals in 2021, may I ask him, instead of going back to a failed nationalisation model or indeed of...

Rating (Property in Common Occupation) and Council Tax (Empty Dwellings) Bill: Housing and Homes (15 May 2018)

John Penrose: It is clear from what we have already heard that the Secretary of State, the Government’s previous housing White Paper and Labour’s Front-Bench team all agree that house building is in crisis, and I agree with that. There are many possible solutions, but I wish to propose just two in the limited time that I have, which, if we start now, could be big and bold enough to make a...

Rating (Property in Common Occupation) and Council Tax (Empty Dwellings) Bill: Housing and Homes (15 May 2018)

John Penrose: The hon. Gentleman leads me to my next point. The current situation is the wrong way around. It should not be easier to buy land, do nothing, aim to get planning permission and then flip for a profit than it is to build houses. From a moral and an economic standpoint, design and construction should be the things that add value to land, not hope or speculation. Planning permission is a huge...

Rating (Property in Common Occupation) and Council Tax (Empty Dwellings) Bill: Housing and Homes (15 May 2018)

John Penrose: I would be delighted to accept my hon. Friend’s invitation. Fortunately we do not need a new tax, which the hon. Member for Stroud (Dr Drew) mentioned, to achieve this value acquisition. Here’s one we prepared earlier—the community infrastructure levy. The levy nearly does what we need and could easily be tweaked so that it does what we need by making it simpler and broader...

Sanctions and Anti-Money Laundering Bill [Lords]: Periodic reports on exercise of power to make regulations under section 1 (1 May 2018)

John Penrose: I completely back up what my right hon. Friend is saying. The time for global action must be now. We need to use the lead that we will create by imposing this measure to drive and exert a global leadership. It must be about not just the transparency of company disclosures, but the transparency of trust disclosures and other kinds of asset classes as well as company shares.

Sanctions and Anti-Money Laundering Bill [Lords]: Periodic reports on exercise of power to make regulations under section 1 (1 May 2018)

John Penrose: May I just follow up on that last point? It is not just trusts that are an essential and major omission here. It is also other kinds of assets, including real estate, mineral rights, debt and bonds. Unless we have complete and comprehensive registers in due course, my worry, and the worry of others, is that we may be over-claiming the benefits of transparency. It may be a necessary step, but...

Sanctions and Anti-Money Laundering Bill [Lords]: Periodic reports on exercise of power to make regulations under section 1 (1 May 2018)

John Penrose: I was about to ask the same question, and the answer that the Minister has just given will be enormously reassuring to many of us, particularly because the thing that many of these kleptocrats and organised criminals really fear is the glare of public disclosure.

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: I hesitate to pray the Labour Front Benchers in aid of my argument, but the Minister has just quoted Ofgem in favour of hers, so perhaps it will make sense. Does she not agree that it would be commercial suicide for a supplier to raise its tariffs in the competitive market in order to protect its position, were a relative cap to be introduced? I think the shadow Minister said earlier that it...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: I just want to point out that the criticism that the relative cap can result in an increase in switching rates and tariffs has equally been applied to the absolute cap. There has been criticism of both kinds of cap, not just of the relative cap.

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: I rise to speak to amendments 2 to 4, which stand in my name and those of a variety of Conservative colleagues, including two members of the Business, Energy and Industrial Strategy Committee as well as former Ministers and Cabinet Ministers. I should pause to say that I am not arguing against the Bill overall—I spoke and voted in favour of it in principle on Second Reading—and I...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: As my right hon. Friend says, he and I have had many conversations about this over many months. I can only say to him that if his argument is that Ofgem might come up with a version of an absolute cap that is a bit less absolute and a bit closer to what I am proposing—in effect, one that caps the gap: a relative cap—I would agree with him that that is a good thing, but if that is...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: Yes, absolutely. We heard from the hon. Member for Southampton, Test (Dr Whitehead) what I thought was actually rather a good explanation about why such a cap is so wonderful. The Opposition disagree about the purpose, but the fundamental reason why we are all in the Chamber is that we agree about the injustice in the way the energy market works at the moment, which is that people can start...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: That argument has been advanced for both a relative cap and for an absolute cap; some people argue that it applies to both. We heard earlier a rather good explanation of why the argument does not really apply, which is that it would be commercial suicide, or a commercial kamikaze effort, for anybody to try to raise their prices in the switching market, which is highly competitive, because...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: That is absolutely bang on the money. For goodness’ sake, the Competition and Markets Authority is suggesting such a thing, and that is after all its business.

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: I will take one more intervention, but then I must make some progress.

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: There is now a whole range of underlying pro-competitive reforms—I am not normally one to give Ofgem a vast amount of credit, but it really deserves some in this case—that are needed in this market. Renaming the default or standard variable tariff may not have a huge effect, but it might have a positive effect. There is a series of other things, some of which are even more...

Domestic Gas and Electricity (Tariff Cap) Bill: Ongoing relative tariff differential (30 Apr 2018)

John Penrose: Much would depend on the size of the cap on the gap proposed by Ofgem, and much would depend on the rest of the pricing structure of the energy firm in question with regard to where it chooses to put its default tariff. Many of these things are, as my hon. Friend points out, yet to arrive. They are starting to be introduced, but they are a relatively new innovation, with small but growing...

Domestic Gas and Electricity (Tariff Cap) Bill (6 Mar 2018)

John Penrose: I seek a little further reassurance from my right hon. Friend. He seems to be coming up with an elegant mechanism for redefining an absolute cap to encompass relative caps, but just relative to the wholesale market rather than relative to other tariffs. If so, that would be incredibly elegant. Does he believe that that would allow repricing within the six-month period before the Ofgem...


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