Results 21–40 of 872 for speaker:Lord Peston

Economy: Fiscal Framework — Question (4 Jun 2013)

Lord Peston: Oh yes. I hope I do not have to remind the coalition how long it has been in power and it is about time it accepted some degree of responsibility. Some flexibility in the fiscal framework is called for, and the obvious flexibility is to extend the planning horizon—I advise the Government on this with no charge—to the whole length of the business cycle so that we could have some...

Procedure of the House — Motion to Take Note (24 Apr 2013)

Lord Peston: My Lords, I intervene as one of the more naive Members of your Lordships' House. When I first heard of the proposal to set up a Back-Bench debates committee, particularly given its provenance, notably with the noble Lord, Lord Goodlad, I assumed that it would go through your Lordships' House on the nod. I am astonished today to find that the Leader of the House, who, I do not have to remind...

Procedure of the House — Motion to Take Note (24 Apr 2013)

Lord Peston: It is my dear wish, which I think is that of all noble Lords, that there should not be a party-political element to our debate. That is the point that I was trying to make. What was troubling me is that I did not hear the noble Lord say what he has now said: that that should not be the case. The debate needs to be judged on its merits. Part of its merits is definitely the provenance of the...

Procedure of the House — Motion to Resolve (24 Apr 2013)

Lord Peston: I have also misinterpreted what is on the Order Paper. I thought we were going to decide the question. Why are we wasting our time, particularly at this time of year, with a take note Motion? Some of us actually want something to happen. Is the noble Lord going to tell us that nothing will happen as a result of us sitting here and talking? That is not unusual in our House, but sometimes we...

Retail Prices Index — Question (24 Apr 2013)

Lord Peston: My Lords, does the Minister agree- I am sure he will agree as his background is similar to my own on this matter-that there is no such thing as a perfect price index-far from it? Those of us who taught the subject spent all the time explaining why there is no such thing. Is it not for the Government to explain what they want to use this particular index for? Is it to measure the inflation...

UK Industry: Competitiveness — Question (22 Apr 2013)

Lord Peston: My Lords, on behalf of my noble friend Lord Haskel, and at his request, I beg leave to ask the Question standing in his name on the Order Paper.

UK Industry: Competitiveness — Question (22 Apr 2013)

Lord Peston: My Lords, noble Lords are stuck with me because my noble friend is in hospital and I hope that they will join me in wishing him a speedy recovery.

UK Industry: Competitiveness — Question (22 Apr 2013)

Lord Peston: My Lords, given the massive size of the current account deficit-almost unprecedented-would it not be to the advantage of our country to improve the competitiveness of UK industry if the external value of sterling fell drastically?

Homelessness: Rough Sleepers — Question (27 Mar 2013)

Lord Peston: My Lords—

Homelessness: Rough Sleepers — Question (27 Mar 2013)

Lord Peston: My Lords, I apologise to noble Lords for intervening twice in the same Question Time, which is not my wont, but I am very intrigued by the Question. Will the Minister say whether her department actually collects data on the nationality of rough sleepers? Secondly, are Poles disproportionately represented in that database? Thirdly, is she aware that if she were looking for a good Keynesian...

Banking: Quantitative Easing — Question (27 Mar 2013)

Lord Peston: May I break the habit of a lifetime by saying how much I agree with the opening remarks of the noble Lord, Lord Lawson? In all the years we have known each other, I think that is a one-off. As far as I recall, the Minister did not take part in the deliberations on the 1998 Act. He is indicating that he did. Then he must remember that the noble Lord, Lord Barnett, and I spent a large part of...

Bank of England: Monetary Policy — Question (19 Mar 2013)

Lord Peston: My Lords, bearing in mind that Section 19 of the Bank of England Act 1998 gives reserve powers to the Treasury to give directions to the Bank of England, am I right that those powers have never been used? I am pretty sure that I am right. Does it not follow that the failure-despite the fact that the Act says that this is the MPC's objective-to hit the inflation target for three years without...

Regional Development — Question (12 Mar 2013)

Lord Peston: My Lords, my noble friend asked the Minister a very good economics examination question, to which I am glad to see the Minister tried gallantly to find an answer. It is a very difficult question. Is he aware that most economists would argue in favour of the so-called convergence theory that free markets would lead to the right outcome and there would be convergence of the different regions?...

Inequality: Income and Wealth — Question (11 Mar 2013)

Lord Peston: My Lords, is the Minister aware that, apart from me, the leading researchers in this subject all agree that there is far more inequality in our society than is required for the efficient working of the economy? Therefore, it follows that the inequality is totally unjustifiable.

Schools: Careers Guidance — Question (4 Mar 2013)

Lord Peston: My Lords, bearing in mind the enormous scale of youth unemployment and the fact that a large number of young people who happen to be in jobs are in jobs well below their qualification and skill levels, can the noble Lord imagine himself being transformed from the government Front Bench to being a schools career adviser? What advice would he give to the young people leaving school later this year?

Economy: Rating Agencies — Question (27 Feb 2013)

Lord Peston: My Lords, bearing in mind that these agencies give the same grade to an enormous and widely different range of borrowers, leading economists pointed out a long time ago that they cannot be, and should not be, taken seriously. Also, is the Minister aware that all the best economic research shows that one major force exacerbating the economic troubles of the past few years has been the rating...

Monetary Policy Committee: Inflation — Question (13 Feb 2013)

Lord Peston: Dare I say to the Minister that he is mistaken? The word flexibility does not appear anywhere in the Bank of England Act. He is entirely right that the Monetary Policy Committee behaves as if it does have a flexible inflation target-the trouble is that it does not, and therefore it is acting illegally. For a great many years my noble friend Lord Barnett and I have been trying to get the Bank...

Retail: Business Rates — Question (12 Feb 2013)

Lord Peston: My Lords, is not the reason why the high street is in such a mess the catastrophic failure of the Government's economic policy? What is required for the high street to get going is what is required for the whole British economy to get going: first, that the Government stop blaming their predecessor-the economy was certainly in a better state then than it is now-and, secondly, that they engage...

Bank of England — Question (22 Jan 2013)

Lord Peston: My Lords, would the Minister care to reflect on the irony of what he and government spokesmen are generally saying? The Europhobes on the government Benches are terribly upset with the idea that Brussels wants to get, and is getting, too involved in the determination of our economic policy, but is not our economic policy being driven by a quite different group-namely the credit rating...

Economy: Effect of US "Fiscal Cliff" Solution — Question (8 Jan 2013)

Lord Peston: My Lords, as a life-long opponent of the death penalty, I might make an exception for whoever-I hope it was not an economist-invented the expression "fiscal cliff". Do the Government accept the analysis that if the US goes more deeply into recession it will have devastating adverse effects on the whole of the European economy and no policy envisaged by this Government would be any use whatever?

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