My Lords, it is a real privilege to participate in this debate. In fact, it has been a real privilege to sit and listen to the contributions, which have in many respects identified issues that should be of great concern to the Government but which we all feel are being...

My Lords, it is a real privilege to participate in this debate. In fact, it has been a real privilege to sit and listen to the contributions, which have in many respects identified issues that should be of great concern to the Government but which we all feel are being...

My Lords, I welcome the noble Lord, Lord Young. He has a somewhat challenging baptism in replying to this first debate in his new position. We all know his competence and that he always wins considerable support from the House for how he presents his arguments. However, I can scarcely...

My Lords, I welcome the noble Lord, Lord Young. He has a somewhat challenging baptism in replying to this first debate in his new position. We all know his competence and that he always wins considerable support from the House for how he presents his arguments. However, I can scarcely...

The answer is categorically yes. In fact, I was going to develop that argument briefly but I do not need to now: in his opening speech, the noble Lord made the main charge against the Government and their response to the report thus far quite clear. I utterly endorse that...

The answer is categorically yes. In fact, I was going to develop that argument briefly but I do not need to now: in his opening speech, the noble Lord made the main charge against the Government and their response to the report thus far quite clear. I utterly endorse that...

Moved by

Lord Davies of Oldham

2: Clause 1, in subsection (1A)(b), leave out “major” and insert “significant”

Moved by

Lord Davies of Oldham

2: Clause 1, in subsection (1A)(b), leave out “major” and insert “significant”

My Lords, the Minister is to be congratulated on the way in which he has handled this Bill. In Committee, we raised several significant issues and pressed him to consider our arguments carefully. He has certainly done that and has brought back to the House Amendment 1, a position with...

My Lords, the Minister is to be congratulated on the way in which he has handled this Bill. In Committee, we raised several significant issues and pressed him to consider our arguments carefully. He has certainly done that and has brought back to the House Amendment 1, a position with...

My Lords, the Minister’s reply puts me a little on trust in that, until I read Hansard tomorrow, I am not too sure I will be able to follow the detail with sufficient accuracy. I was somewhat appalled as I was thrust back to my old tutorial days as a...

My Lords, the Minister’s reply puts me a little on trust in that, until I read Hansard tomorrow, I am not too sure I will be able to follow the detail with sufficient accuracy. I was somewhat appalled as I was thrust back to my old tutorial days as a...

My Lords, that is a totally inadequate response given the sense of outrage in the country over what has been revealed in the paradise papers. The Government are trying to say that, after seven years of Conservative Chancellors of the Exchequer and Conservative government, condign action is now being taken...

My Lords, that is a totally inadequate response given the sense of outrage in the country over what has been revealed in the paradise papers. The Government are trying to say that, after seven years of Conservative Chancellors of the Exchequer and Conservative government, condign action is now being taken...

We certainly congratulate the Government on the progress made thus far, but does the Minister accept that unless company ownership is made public and accessible there is no way in which our Government will be able to monitor compliance? It is quite clear that our overseas territories are the primary base for a very great deal of corruption and money laundering, and it is quite clear that we need to act.

We certainly congratulate the Government on the progress made thus far, but does the Minister accept that unless company ownership is made public and accessible there is no way in which our Government will be able to monitor compliance? It is quite clear that our overseas territories are the primary base for a very great deal of corruption and money laundering, and it is quite clear that we need to act.

My Lords, I congratulate the noble Lord, Lord Willoughby de Broke, on introducing this debate. The degree of sharp interest shown by all noble Lords in this issue may have surprised him. Passion has been aroused, and so it should be. It is interesting that it has been identified that...

My Lords, I congratulate the noble Lord, Lord Willoughby de Broke, on introducing this debate. The degree of sharp interest shown by all noble Lords in this issue may have surprised him. Passion has been aroused, and so it should be. It is interesting that it has been identified that...

My Lords, I have some sympathy with the Minister as I have on occasions from that Dispatch Box also produced responses that did not satisfy the noble Countess, Lady Mar, nor many other Members of the House. I therefore ask the Minister this question. If she is able to give the degree of reassurance that she has given about the monitoring that we carry out, but if the issue is a great deal wider than that—she made no reference at all to how other countries attack this or to the European position in general—will the Government at least push the authorities into examining this matter further? The consequences of getting it wrong would be quite disastrous.

My Lords, I have some sympathy with the Minister as I have on occasions from that Dispatch Box also produced responses that did not satisfy the noble Countess, Lady Mar, nor many other Members of the House. I therefore ask the Minister this question. If she is able to give the degree of reassurance that she has given about the monitoring that we carry out, but if the issue is a great deal wider than that—she made no reference at all to how other countries attack this or to the European position in general—will the Government at least push the authorities into examining this matter further? The consequences of getting it wrong would be quite disastrous.

My Lords, the noble Lord will recall that in 2011 the chief executive of Barclays said that the period of remorse and apology should now be over. Since then we have had this scandal, described by the noble Lords, Lord James and Lord Wrigglesworth, as breathtaking and utterly unacceptable. We have Lloyds Bank, which is still being funded from the public purse, in the middle of it. Since 2011, we have had the rigging of LIBOR and we have had RBS, another publicly supported bank, handing out massive bonuses while declaring a pre-tax loss. When are the Government really going to get tough with the banks and make sure that the Vickers reforms are honoured in spirit and in practice?

My Lords, the noble Lord will recall that in 2011 the chief executive of Barclays said that the period of remorse and apology should now be over. Since then we have had this scandal, described by the noble Lords, Lord James and Lord Wrigglesworth, as breathtaking and utterly unacceptable. We have Lloyds Bank, which is still being funded from the public purse, in the middle of it. Since 2011, we have had the rigging of LIBOR and we have had RBS, another publicly supported bank, handing out massive bonuses while declaring a pre-tax loss. When are the Government really going to get tough with the banks and make sure that the Vickers reforms are honoured in spirit and in practice?

My Lords, I have read the report and congratulate the committee on the excellent work it has done and the judicious way in which it has presented its arguments. The chairman of the committee who introduced the report today—the noble Lord, Lord MacGregor—continued that pattern in identifying the committee’s arguments....

My Lords, I have read the report and congratulate the committee on the excellent work it has done and the judicious way in which it has presented its arguments. The chairman of the committee who introduced the report today—the noble Lord, Lord MacGregor—continued that pattern in identifying the committee’s arguments....

My Lords, I am quite sure that the House does not begrudge the noble Lord, Lord Brooke, his late intervention in the debate, if only because he is the only Conservative speaker. However, we all very much appreciated the particular point that he made about charities and I hope that...

My Lords, I am quite sure that the House does not begrudge the noble Lord, Lord Brooke, his late intervention in the debate, if only because he is the only Conservative speaker. However, we all very much appreciated the particular point that he made about charities and I hope that...

My Lords, I shall contribute briefly because I cannot do justice to this issue. However, I hope that the Minister will do so. I pay tribute to the enormous work of the noble Countess, Lady Mar, in this area. I had the privilege of knowing Nancy Tait who happened to...

My Lords, I shall contribute briefly because I cannot do justice to this issue. However, I hope that the Minister will do so. I pay tribute to the enormous work of the noble Countess, Lady Mar, in this area. I had the privilege of knowing Nancy Tait who happened to...

My Lords, I am going to offer a word of solace to the Minister: I recommend that he suggests that the noble Lord withdraws his amendment, not that the Government should accept it. I doubt whether the Government will accept it, not least because although this has been an interesting...

My Lords, I am going to offer a word of solace to the Minister: I recommend that he suggests that the noble Lord withdraws his amendment, not that the Government should accept it. I doubt whether the Government will accept it, not least because although this has been an interesting...

Probably not, my Lords.

Probably not, my Lords.

I think that the noble Lord, Lord Jenkin, if he is not careful, is going to have to rise again and make exactly the same speech, although he made it in such a convincing fashion that he convinced me. It will be seen by the Committee that we were interested...

I think that the noble Lord, Lord Jenkin, if he is not careful, is going to have to rise again and make exactly the same speech, although he made it in such a convincing fashion that he convinced me. It will be seen by the Committee that we were interested...

34ZB: Clause 75, page 55, line 29, at end insert— ““( ) the impact of supply on consumer prices””

34ZB: Clause 75, page 55, line 29, at end insert— ““( ) the impact of supply on consumer prices””

My Lords, it will not surprise the Minister to hear that I agree entirely with the case made by the noble Baroness, Lady Noakes. The sanctions are a different and important dimension, which is why the Merits Committee referred to the issue. The Minister will know only too well that...

My Lords, it will not surprise the Minister to hear that I agree entirely with the case made by the noble Baroness, Lady Noakes. The sanctions are a different and important dimension, which is why the Merits Committee referred to the issue. The Minister will know only too well that...

My Lords, all that needs to be said about this amendment has been said by informed Members of the Committee. I congratulate the noble Lord, Lord Jenkin, on his amendment, which was supported so strongly by my noble friend Lord O’Neill, who also knows energy issues so well. It reinforces...

My Lords, all that needs to be said about this amendment has been said by informed Members of the Committee. I congratulate the noble Lord, Lord Jenkin, on his amendment, which was supported so strongly by my noble friend Lord O’Neill, who also knows energy issues so well. It reinforces...