Results 1–20 of 600 for (in the 'Commons debates' OR in the 'Westminster Hall debates' OR in the 'Lords debates' OR in the 'Northern Ireland Assembly debates') speaker:Lord Eatwell

Financial Services (Implementation of Legislation) Bill [HL] - Committee (1st Day) (8 Jan 2019)

Lord Eatwell: My Lords, as the chairman of a regulatory organisation, I find the discussion about the word “adjustment” very disturbing. I shall give the Minister an example. If a door is open and then you close it, you adjust the door, but it is still in essence the same piece of wood moving within a frame. Taking that over to financial regulation, if a particular regulatory structure permits a given...

Industrial Strategy - Motion to Take Note (Continued) (8 Jan 2018)

Lord Eatwell: My Lords, it is a great pleasure to follow the noble Lord, Lord Prior, particularly as I had set out to be critical of the White Paper. Having listened to him, I realise I must temper some of my criticisms. Although the policy set out in the White Paper is a step in the right direction, the measures proposed are a pale imitation of the sort of programme of institutional reform that could...

Queen’s Speech - Debate (3rd Day) (Continued) (26 Jun 2017)

Lord Eatwell: My Lords, there has been a lot of debate about the likely impact that leaving the European Union will have on the UK economy. To date, there have been two indisputable negative impacts. First, the fall in the pound as a consequence of the referendum vote has the direct effect of reducing real incomes. The second negative impact, indisputably, is the content of the gracious Speech. For the...

Criminal Finances Bill - Report (and remaining stages) (25 Apr 2017)

Lord Eatwell: My Lords, first, I declare an interest as chairman of the Jersey Financial Services Commission and therefore the person responsible for the beneficial ownership register in Jersey. The question addressed in Amendment 14, of public access to registers of beneficial ownership, is not one for me, and I will not address the value or otherwise of making a register public—that is a political...

Criminal Finances Bill - Committee (2nd Day) (3 Apr 2017)

Lord Eatwell: My Lords, I regret that I did not have the opportunity to participate in the Second Reading debate on this Bill as I was abroad. I have, however, read with care the record in Hansard, in particular those speeches by noble Lords who referred to the matters under consideration in this group of amendments. I wish to speak to Amendment 169 and do so because I have a particular interest to...

Bank of England and Financial Services Bill [HL]: Report (15 Dec 2015)

Lord Eatwell: My Lords, I am impressed by the extensive lack of support for this amendment throughout the House. I say in response to what the Minister has said that, of course, the powers have developed and lessons have been learnt since the financial crisis, but I was referring to the recentralisation of powers rather than some of the extra powers that have resulted from the lessons learnt. The main...

Bank of England and Financial Services Bill [HL]: Report (15 Dec 2015)

Lord Eatwell: My Lords, this amendment seeks to provide the Treasury Select Committee of another place with the ability to stimulate the oversight function of the Court of the Bank of England. It may be helpful to provide some context for this proposal. The measures in the Bill, in so far as they refer to the Bank of England, return the regulatory scope and powers of the Bank to roughly the same position...

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: The noble Lord, having not been present at our discussions, sadly, three years ago, has not appreciated the loss of confidence in this House in the general accountability of the Bank of England. Given the structure of the Bank of England and its role in national and international life, the position of the governor is extremely powerful, and quite rightly so. He needs to carry the gravitas and...

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: My Lords, I find this a somewhat naive and shocking part of this small Bill, in the sense that the clause under debate has two objectives. The first is to reduce the powers of the NEDs and the second is to reduce the powers of Parliament. Both of those goals I regard as reprehensible. As the noble Lord, Lord Tunnicliffe, set out, these issues were debated extensively in this Chamber with...

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: I am intrigued by the Treasury Select Committee’s recommendation of eight. Can the Minister tell us what would have been the composition among those eight recommended persons?

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: My Lords, the Bill reeks of the feeling that non-executive directors are a nuisance. Everywhere, we find the role of the non-executive directors in the Bank being reduced. This simple numerical reduction is something like arguing about the number of angels who can dance on a pin. None the less, let us remember why legislation was brought to this House and argued for so forcibly by the noble...

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: My Lords, I am grateful to those noble Lords who have spoken, and in particular to my noble friend Lord Tunnicliffe for his exposition of yet further confusion in letters from the Bank of England, or from whoever, attempting to explain what the Bill is really about. I must say that I am sympathetic to the suspicion in the mind of the noble Lord, Lord Flight, that “the Bank” means “the...

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: Why has the court’s responsibility been taken out of the Bill and replaced with “the Bank”? The Bill originally said that the court should consult the FPC, but now it says that the Bank must do so. The noble Lord is saying that that means the court, so what is the point of this amendment?

Bank of England and Financial Services Bill [HL]: Committee (1st Day) (9 Nov 2015)

Lord Eatwell: My Lords, as was evident in the speeches around the House at Second Reading, there is a feeling in this House that the Bill is a serious retrograde step from the measures taken in 2012 and 2013 following the financial crisis to strengthen the accountability and oversight of the Bank of England. The purpose of my Amendment 1 is to exemplify the argument that I made at Second Reading that the...

Bank of England and Financial Services Bill [HL]: Second Reading (26 Oct 2015)

Lord Eatwell: My Lords, I thank the noble Lord, Lord Bridges of Headley, for introducing the Bill, and welcome him to our debates on financial regulation. For those of us who spent many hours in your Lordships’ House examining, clause by clause, what were to become the Financial Services Act 2012 and the Financial Services (Banking Reform) Act 2013, achieving creative compromises with the then Minister,...

Banking System — Question (9 Feb 2015)

Lord Eatwell: My Lords, I am sure the Minister will confirm that the agreement with Switzerland to reveal tax information was made in 2011, after the coalition Government took office. Does he believe that confidence in the banking system is enhanced by the fact that concrete evidence of a major bank aiding and abetting tax evasion was comprehensively ignored by the coalition Government?

Employment: New Jobs — Question (27 Jan 2014)

Lord Eatwell: The Minister has referred continuously to “good news”. He has just referred to issues of efficiency in the public sector. Will he refer to the collapse in productivity in the private sector, which is the counterpart of the high level of employment, as also good news?

Banks: Payment Protection Insurance — Question (13 Jan 2014)

Lord Eatwell: My Lords, the noble Lord has not answered the point made by the noble Lord, Lord James, which was that individuals have to apply to the banks for restitution of PPI claims rather than the banks recognising the obligation that they know they have. Why are the Government letting the banks off the hook?

Financial Services (Banking Reform) Bill — Third Reading (9 Dec 2013)

Lord Eatwell: My Lords, the noble Lord, Lord Deighton, expressed the view that this was the final piece of the jigsaw in financial regulatory reform. He is going to be disappointed in that respect. What we have achieved is but a step on the road. Many issues have still not been addressed and many parts of the financial services industry have not been incorporated into the overall consideration of what is...

Financial Services (Banking Reform) Bill — Third Reading (9 Dec 2013)

Lord Eatwell: My Lords, I am delighted to support Amendment 26, which stands in the names of the noble Lord, Lord Deighton, and of my noble friend Lady Hayter of Kentish Town. She is very sorry she cannot be in her place this evening to say this herself, but she is very grateful to the Government not only for accepting the essence of her amendment, moved at Report, but also for turning in some far better...


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