Results 1–20 of 304 for speaker:Lord Blackwell

Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018 - Motion to Approve (15 Jan 2019)

Lord Blackwell: I must tell the noble Lord that I listen to his interventions with growing frustration, as very little of what he says is about the merits of the statutory instrument we are supposed to be debating. The noble Lord might wish it were otherwise, but Parliament voted to enact legislation which is now an Act of Parliament and states that the UK will leave the European Union on 29 March. The only...

European Union (Withdrawal) Bill - Report (4th Day) (30 Apr 2018)

Lord Blackwell: My Lords, I have listened very carefully to those noble Lords who have proposed this amendment but I have concluded, on the basis of the other arguments which have been set out, that it is fundamentally flawed, for both constitutional and practical reasons. As the noble Lord, Lord Howard, said, the constitutional argument is that it risks completely confusing the roles of the Executive and...

European Union (Withdrawal) Bill - Second Reading (Continued) (30 Jan 2018)

Lord Blackwell: My Lords, while noting my business interests as set out in the register, I would like to make it clear that I will be speaking in this debate and at later stages of the Bill in a purely personal capacity as a Member of this House. Listening to the debate, I note that many views have, of course, been expressed around the House on the merits of what we are embarked upon. Noble Lords will know...

Brexit Negotiations - Statement (11 Dec 2017)

Lord Blackwell: My Lords, the House will note my particular interest in financial services. I welcome the Statement. Will the Government pay particular attention in phase 2 of the talks to the benefits to both the UK and the European Union of continuing trade in financial services and the role that the City of London plays as an asset for the whole of Europe?

Brexit: Legislating for the United Kingdom’s Withdrawal from the European Union - Statement (30 Mar 2017)

Lord Blackwell: My Lords, in connection with the challenge—

Brexit: Legislating for the United Kingdom’s Withdrawal from the European Union - Statement (30 Mar 2017)

Lord Blackwell: In connection with the challenge set out in the White Paper of ensuring appropriate parliamentary scrutiny of the EU legislation being translated into UK law, might my noble friend consider the precedent set some years ago by the tax law rewrite committee? As noble Lords may remember, this Joint Committee of both Houses was set up in similar circumstances with the simple purpose of...

European Union Referendum Bill — Second Reading (Continued) (13 Oct 2015)

Lord Blackwell: My Lords, it is a great pleasure to follow the noble Lord, Lord Maclennan, whom I greatly respect even though we often disagree on this topic. Before I begin I should make clear that, while I have a number of business interests set out in the register, in speaking today I will be setting out my personal views. Given my contribution to previous debates in this House on this topic, you will not...

European Arrest Warrant — Question (29 Oct 2014)

Lord Blackwell: My Lords, does my noble friend accept that there are serious concerns about the principle of British citizens being arrested on British soil and sent into the custody of foreign judicial systems, where there is no democratic control by other British citizens, without a chance for British courts and British justice systems to take a view on it? Will my noble friend assure us that this House...

Public Services: Private Sector Companies — Question (28 Oct 2013)

Lord Blackwell: My Lords, I declare my interests as set out in the register. Does my noble friend the Minister accept that there are millions of privately employed workers delivering public services who go to work every day completely dedicated to the quality of services that they deliver to the public? Does he recognise that, in tribute to their efforts, we should be clear that you do not have to be a...

Financial Services (Banking Reform) Bill: Committee (3rd Day) (23 Oct 2013)

Lord Blackwell: My Lords, from the discussion, I am once again not clear on whether this needs to be built into the legislation in the way that is being suggested. As the noble Lord, Lord Turnbull, has said, I do not think that anyone would now dispute that it is a useful backstop to have a leverage ratio alongside the risk-weighted assets calculation of capital. However, that is built into CRD 4, and the...

Financial Services (Banking Reform) Bill: Committee (3rd Day) (23 Oct 2013)

Lord Blackwell: I thank my noble friend for that clarification, but I was responding to the points that were made by him and other noble Lords in advancing their arguments. If you come down to the question of “Does the PRA need more powers in order to enforce a higher or more restrictive leverage ratio?” then it can, under its existing powers, require capital add-ons to banks if it is not satisfied with...

Financial Services (Banking Reform) Bill: Committee (3rd Day) (23 Oct 2013)

Lord Blackwell: My Lords, I do not think anyone can disagree with the arguments put forward by my noble friend Lord Lawson that the regulators should have access to the best available information from the auditors and should be able to request the information relating to the accounts that they want. What I am less clear about from this discussion is whether there is a need for that to be built into this...

Financial Services (Banking Reform) Bill: Committee (2nd Day) (15 Oct 2013)

Lord Blackwell: My Lords, in asking Parliament to approve these powers, I wonder if my noble friend could set out what protection he believes is built into this legislation for the inappropriate use of these powers. I understand why having a regime in place that allows a speedy resolution to be enacted is desirable. If that is to come about, it needs to happen very quickly and efficiently when the...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: My Lords, given some of the recent speeches, I again sound a small note of caution. While I understand the need to electrify the ring-fence, the Government and this House should be cautious about legislating on a presumption that universal banking is the wrong commercial or organisational model. I share many of the concerns that have been expressed about the difficulty of having a common...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: Could the noble Lord explain the drafting of Amendment 23? As I understood his explanation, it was that this would be a contingent power that the regulator could enforce if necessary. The way the amendment is drafted, proposed new Section 142VA gives the impression that it would be a requirement regardless of any other condition. Perhaps the noble Lord will clarify how it will become...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: My Lords, I must express some reservations about the arguments put forward by the noble Lord, Lord Turnbull. It is not that I do not understand the significance of having continuous and effective review of these ring-fencing procedures, but it seems to me that we have set up, with a lot of time in this House and the other place, a regulator that has learnt in that legislation and its...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: I thank the noble Lord for that clarification. I was responding to the fact that the amendment suggests that the chair should be approved by the chairman of the Treasury Select Committee. That would certainly alleviate some of my concerns. Nevertheless, the main point is that if we have an independent regulator, we should trust that regulator to do the job we have asked it to do. That does...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: I am grateful for my noble friend’s comments on Amendment 1 and for his explanation that the flexibility allowed for in this Bill will be flexibility that the regulator will be expected to interpret. I note the comments of the noble Lord, Lord Eatwell, but clearly the regulator’s role will be to ensure that creep does not occur on the way and that the protection of the ring-fenced bank is...

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: My Lords, since I was unable to speak at Second Reading, I should take this opportunity to declare my interests at the start of Committee stage. I am a non-executive director of Lloyds Banking Group and chairman of Scottish Widows group.

Financial Services (Banking Reform) Bill — Committee (1st Day) (8 Oct 2013)

Lord Blackwell: My Lords, before moving on to the amendment, and as I did not speak at Second Reading, I want to make it clear that I strongly support the principles of the Bill, and the principle of ring fencing in particular. My amendment is to deal with some of the practical issues of making that work in the financial institutions. The amendment deals with the situation where a financial services group...


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