Results 1–20 of 1722 for speaker:Lord Tunnicliffe

Private Equity: Economic and Social Risks - Motion to Take Note (21 Jul 2022)

Lord Tunnicliffe: The argument is that there are all these laws to protect everybody. Has any action been taken against any private equity firms for disobeying any of these laws?

Private Equity: Economic and Social Risks - Motion to Take Note (21 Jul 2022)

Lord Tunnicliffe: My Lords, I congratulate my noble friend Lord Sikka on securing this debate; I am also grateful to the other speaker in this discussion. Given the imminent arrival of the Recess, the group is small, but several interesting points have been made and important questions posed. Like it or not, private equity is part of our economy. It is an umbrella term, but each fund is different and each...

Rwanda Asylum Partnership: Removal of Unaccompanied Children - Question for Short Debate (21 Jul 2022)

Lord Tunnicliffe: My Lords, I start by paying tribute to my noble friend Lady Lister for sponsoring today’s debate and for her long-term commitment to this issue. The quality of debate and the calibre of speakers who have taken part demonstrate the widespread concern over this policy. Fortunately for the House, it also means there is little that I need to add, other than the strong support on these Benches...

Crypto Asset Technology - Question (21 Jul 2022)

Lord Tunnicliffe: My Lords, during the SI debate earlier this week, the Minister and I discussed the need to better regulate crypto assets, particularly in relation to money laundering. In her answers today, she seems to accept that cryptocurrencies potentially facilitate money laundering. Does she not feel that this is very important and must be gripped quickly?

Seafarers’ Wages Bill [HL] - Second Reading (20 Jul 2022)

Lord Tunnicliffe: My Lords, I thank all noble Lords who have spoken today, but I particularly thank the noble and learned Lord, Lord Mackay, for his contribution. I cannot match the eloquence of previous speakers, but I formally—for want of a better way of putting it—thank him on behalf of these Benches for his magnificent contribution over those 43 years. At a personal level, it has always been a pleasure...

Economic Downturn - Question (18 Jul 2022)

Lord Tunnicliffe: My Lords, media reports suggest that Ministers are to launch a multibillion pound business loan scheme in an attempt to counter a looming recession. Can the Minister confirm whether an announcement will be made to Parliament before the Summer Recess? Can she also confirm what measures, if any, are being put in place to avoid the level of fraud seen under the Covid support schemes?

Energy (Oil and Gas) Profits Levy Bill - Second Reading (and remaining stages) (13 Jul 2022)

Lord Tunnicliffe: My Lords, I am grateful to the noble Baroness, Lady Penn, for introducing this important Bill. It is legislation that we could and should have debated many months ago, had the then Chancellor, the current Chancellor and the rest of the Cabinet not railed against Labour’s longstanding proposal for a windfall tax on oil and gas profits. The Labour Front Bench facilitated three votes on this...

Tax Cuts: Fiscal Impact - Question (13 Jul 2022)

Lord Tunnicliffe: My Lords, the Government argue that rising inflation is a global challenge. However, the IMF and the OECD have warned that when put alongside comparable economies, the UK carries a much bigger risk of persistent high rates. This is bad for household budgets and consumer confidence. What is it about 12 years of Conservative control of the economy that has left us in this position?

HS2: Speed Restrictions - Question (13 Jul 2022)

Lord Tunnicliffe: My Lords, the spiralling cost of the Great Western electrification programme is a perfect case study of the importance of transparency between government and industry to ensure industry’s preparedness to deliver complex infrastructure projects. Yet that link, the rail network enhancements pipeline, remains unpublished. Given that, how can we expect HS2 to be delivered on time and on budget...

M56 Motorway (Junctions 6 to 7) (Variable Speed Limits) Regulations 2022 - Motion to Regret (11 Jul 2022)

Lord Tunnicliffe: Can the Minister explain why all this evidence was not contained in the Explanatory Memorandum, which she personally approved?

M56 Motorway (Junctions 6 to 7) (Variable Speed Limits) Regulations 2022 - Motion to Regret (11 Jul 2022)

Lord Tunnicliffe: My recollection, though I may have got it wrong, is that the standard for Explanatory Memorandums requires them to be easily understood by a person with no previous knowledge. The arguments that she has revealed to us, which may or may not be persuasive, are not available to people with no previous knowledge.

M56 Motorway (Junctions 6 to 7) (Variable Speed Limits) Regulations 2022 - Motion to Regret (11 Jul 2022)

Lord Tunnicliffe: The Minister has illustrated that it can be done in a reasonably concise way. She just went through all the arguments—I cannot say that I am convinced because I cannot see them all together on a piece of paper—but the length of her speech is not that long compared with the paucity of information in the Explanatory Memorandum.

M56 Motorway (Junctions 6 to 7) (Variable Speed Limits) Regulations 2022 - Motion to Regret (11 Jul 2022)

Lord Tunnicliffe: My Lords, the Government’s failed rollout of smart motorways costs lives, which is exactly why Members of this House have long warned of serious flaws. It is a tragedy that lives were lost before action was taken, and it is thanks only to the dedication of bereaved families that the rollout was paused at all. It is therefore beyond belief that the Government are still pressing ahead with...

UK Infrastructure Bank Bill [HL] - Third Reading: Motion (11 Jul 2022)

Lord Tunnicliffe: My Lords, much has happened since last week’s Report stage, when your Lordships passed two sensible amendments. These changes would considerably strengthen the Bill’s climate and levelling-up credentials, ensuring greater external support for the bank and its work. The Prime Minister has rightly said that the business of government must go on over the coming weeks and months. In that...

Financial Inclusion - Question (11 Jul 2022)

Lord Tunnicliffe: My Lords, I congratulate the noble Lord, Lord Holmes of Richmond, on his tenacity on this subject, which has made this fact stand out to me: 22% of adults have less than £100 in savings. They are not just unlucky; they are victims of the policies of firms, ranging from car parks to banks, to reduce costs and hence make more profit. We need a comprehensive and holistic approach, and the...

Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 - Motion to Approve (5 Jul 2022)

Lord Tunnicliffe: My Lords, I thank the Minister for introducing these regulations. They build on the Financial Services Act, which was generally not contentious legislation. Arguments took place about the transparency of rule-making by the regulators, but the introduction of the investment firms prudential regime and several other changes were seen as sensible steps forward. One suspects that the forthcoming...

UK Infrastructure Bank Bill [HL] - Report: Amendment 22 (4 Jul 2022)

Lord Tunnicliffe: My Lords, although I see an attraction in a higher frequency than the Government are proposing, equally, I think that, in many ways, even five years is too long. I take comfort in what I hope to hear from the Minister: that we will have much of the information we need to come to a judgment about the success, and effectiveness—crowding in and all those issues—annually in the report. Her...

UK Infrastructure Bank Bill [HL] - Report: Amendment 19 (4 Jul 2022)

Lord Tunnicliffe: Before the noble Baroness sits down, could she find a device—a statement or something—to advise us on when that process has been completed and in what form that requirement has been met?

UK Infrastructure Bank Bill [HL] - Report: Amendment 19 (4 Jul 2022)

Lord Tunnicliffe: My Lords, I thank all noble Lords who have participated in this debate, and I thank the noble Baroness for her assurances on my specific point. I hope that it is seen through and that the result is not that the bank explains that it is not following the code, for some reason. This is an alternative, but one that I would deeply regret if it were chosen. With that, I beg leave to withdraw my...

UK Infrastructure Bank Bill [HL] - Report: Amendment 13 (4 Jul 2022)

Lord Tunnicliffe: My Lords, I am grateful to the noble Lord, Lord Sharkey, and the noble and learned Lord, Lord Thomas, for tabling the various amendments in this group. I was pleased to sign Amendment 18, which would increase transparency relating to Treasury directions. The Minister and her officials have offered several helpful assurances on this subject during discussions between Committee and Report. I am...


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