Results 141–160 of 6256 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 Darling of Roulanish

Oral Answers to Questions — Treasury: Budget Deficit (8 Jun 2010)

Alistair Darling: First, may I welcome the Chancellor and his team to the Front Bench? I hope that he will join me in sending our good wishes to my right hon. Friend the Member for East Ham (Mr Timms), who remains a member of the Opposition Treasury team and who I am glad to say was in very good heart when I saw him a couple of weeks ago. He is looking forward to returning to the House at an early...

Oral Answers to Questions — Treasury: Budget Deficit (8 Jun 2010)

Alistair Darling: I agree that there are many issues that need to be resolved, in this country and others. No doubt we will return to them when the debate on the Gracious Speech resumes. I want to ask a specific question about the Office for Budget Responsibility that the Chancellor is about to set up. When that body makes its recommendations, will he undertake that it will publish all the underlying...

Government Spending Cuts (26 May 2010)

Alistair Darling: (Urgent Question): To ask the Chancellor of the Exchequer if he will set out the measures that will be implemented across government to deliver the more than £6 billion of in-year spending cuts announced earlier this week?

Government Spending Cuts (26 May 2010)

Alistair Darling: First, I am grateful to the Chief Secretary-I am just sorry that the Chancellor of the Exchequer could not make it. It is important, especially as the Government have difficult decisions and announcements to make over the next few months, that the Chancellor should be ready to come to this House to justify what he is doing. Will the Chief Secretary accept that there is no good reason why the...

Oral Answers to Questions — Prime Minister: Ways and Means — Financial Statement (24 Mar 2010)

Alistair Darling: This Budget takes place as the UK is emerging from the deepest global recession for over 60 years. It has been a testing time, which has required Governments across the world to make difficult decisions and difficult choices, and to take unprecedented actions. We had to decide whether to intervene to rescue the financial system or to stand on the sidelines, and whether we should support the...

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: Reform is necessary at domestic, European and international level to ensure that we have a regulatory system that can effectively monitor and, where necessary, curb risk-taking in the financial services sector.

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: I agree with my hon. Friend that it is important that we have a fair and just society; that we ensure that, when people are rewarded, they are rewarded for their effort; and, in the banking industry in particular, that the relationship between what somebody does and what they get should be better aligned. That is why we received the agreement of the G20 countries and imposed restrictions on...

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: I agree with the hon. Gentleman that global agreement on the reforms that we need is highly desirable. The proposals that the United States made 10 days ago, the requirements for increased capital, where necessary, to ensure that the amount of capital held is commensurate with the risk undertaken, and the measures to take forward the work on resolution plans-living wills, if you like-are all...

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: I do not think that the division that my hon. Friend provides is quite as simple as that. Hedge funds can perform a useful function, but it is important to ensure that, when banks engage in risky activity, they have sufficient capital behind them if things go wrong. That is why we are very happy to work with some of the proposals from the United States and, indeed, other parts of the world....

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: Interestingly, if one looks at Paul Volcker's proposals, which he made as part of his Group of Thirty proposals a year ago, one finds that he recognised that proprietary trading could be risky and recommended that greater capital be held against such risky activities. We have expressed that view before, and the issue clearly needs to be looked at. However, we must also bear in mind that most...

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: No, I do not accept that. If the hon. Gentleman reflects on what has happened since 2007, he will see that the problems were partly to do with liquidity. For example, Northern Rock was totally dependent on wholesale funding, and when that dried up, the bank effectively collapsed. However, the other problem was that too many firms, such as RBS, clearly did not understand the extent to which...

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: As I have said before, we have still to see the details of what the President is proposing; I understand that we will see more during the course of this week. I have to say to the hon. Gentleman that we are dealing with a complex set of proposals. On the day that the President made his announcement, according to Robert Peston-[Hon. Members: "Ah!"] Well, I am sure that he is right on this....

Oral Answers to Questions — Treasury: Financial Sector (2 Feb 2010)

Alistair Darling: On the hon. Gentleman's first point, I said that where there is common ground between us and those in the United States, we will work closely with them; that is something that I intend to pursue at the G7 meeting this weekend, along with other Finance Ministers. I do not accept the proposition that if we simply break up banks we will sort the problem that needs to be sorted, because of the...

Oral Answers to Questions — Treasury: UK Credit Rating (2 Feb 2010)

Alistair Darling: As the House would expect, Treasury officials meet a wide range of organisations and have done so for a number of years.

Oral Answers to Questions — Treasury: UK Credit Rating (2 Feb 2010)

Alistair Darling: That is not quite what the Governor said, but I say to the hon. Gentleman that we are committed to halving the deficit over a four-year period, which means a sharp reduction in spending. We propose to do that once we believe that recovery is established, from 2011. The Governor made the point that to withdraw support prematurely would risk damaging the economy. I agree with the hon. Gentleman...

Oral Answers to Questions — Treasury: UK Credit Rating (2 Feb 2010)

Alistair Darling: Inevitably in markets, people say things for different reasons, but what is important is that people are left in no doubt that we have a firm proposal to reduce the deficit over a four-year period. When one looks at the pre-Budget report, one will see that the structural deficit, which begins to be reduced next year, comes down by something like two thirds over that period. That is an example...

Oral Answers to Questions — Treasury: UK Credit Rating (2 Feb 2010)

Alistair Darling: The only rating that is being downgraded at the moment is the shadow Chancellor's. I put it to the shadow Chief Secretary that a week ago, the Leader of the Opposition said: "We cannot go on like this...And you just need to look at Greece to see what happens if we do" but yesterday, the shadow Chief Secretary, when asked on the television-

Oral Answers to Questions — Treasury: Fiscal and Monetary Policy (2 Feb 2010)

Alistair Darling: As I set out in the pre-Budget report, we will continue to provide fiscal support during 2010-11, alongside the monetary policy action being taken by the Bank of England.

Oral Answers to Questions — Treasury: Fiscal and Monetary Policy (2 Feb 2010)

Alistair Darling: I very much agree with my hon. Friend. It is important to recognise that across the world, including in this country, it is the support given by Governments that has enabled us to avoid the recession becoming a global depression. It is also one of the reasons why countries are beginning to come back into growth. To remove that support prematurely would run the risk of derailing the recovery....

Oral Answers to Questions — Treasury: Fiscal and Monetary Policy (2 Feb 2010)

Alistair Darling: As the right hon. Gentleman will know, we have taken steps to ensure that the banks increase the amount of gross lending that they are putting into the economy. At a time when private sector investment has stopped or reduced, if it had not been for the public sector intervention, the downturn would have been much greater than it is. As it is, we can see signs of increasing confidence-he will...


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