European Union (Withdrawal) Bill

Debate between Baroness Kramer and Baroness Goldie

Committee: 11th sitting (Hansard): House of Lords
Wednesday 28th March 2018 Lords Chamber

[Baroness Goldie]

The noble Baroness is quite right: there may be an overlap of issues where there is the desire to legislate positively about something as well as taking into account something that is no longer relevant. What I am saying is that where there is a patent misfit because something no longer applies to UK law, I think it is sensible in those circumstances to let the Minister try to ensure that there is no confusion, in that it does not make its way into what is in public view as representative of the body of law.

[Baroness Kramer]

Surely there is nothing wrong with a Minister proposing that something is not relevant and appropriate, but to make the final decision on that with no capacity for challenge is completely out of order. That is not a responsibility that should be placed on any member of the Executive.

European Union (Withdrawal) Bill

Debate between Baroness Kramer and Baroness Goldie

Committee: 7th sitting (Hansard - continued): House of Lords
Wednesday 14th March 2018 Lords Chamber

[Baroness Kramer]

My Lords, I shall say only a few words because of the lateness of the hour, but I support this amendment. The Government have continually used the argument that they cannot provide detailed forecasts of the impact on the UK economy, jobs and other opportunities either because they do not know the full clarity of what the end agreement will look like or because any disclosure might compromise their negotiating position. I have always found that a little strange. Having negotiated trade agreements on our behalf for 40 years, there is, in fact, more expertise about the impact of these arrangements on the other side of the channel than there is on this side, so we are really not fooling anybody in any of the discussions that we have.

Setting that aside, at the point that the noble Lord, Lord Tunnicliffe, describes, neither of those arguments stands any more. We will have completed our negotiations and will know the details of what we have negotiated. Do the Government not agree that transparency is both possible and crucial at that moment and, therefore, that the analysis that the noble Lord just described is vital and owed to Parliament and the British people?

[Baroness Goldie (Con)]

My Lords, I thank the noble Lord, Lord Davies, in his absence for this amendment and thank the noble Lord, Lord Tunnicliffe, for moving it and speaking to it. The Office for Budget Responsibility’s remit is clearly defined in legislation, under the Budget Responsibility and National Audit Act 2011, as being,

“to examine and report on the sustainability of the public finances”.

In doing so, the OBR must produce at least two forecasts per financial year, which must include the impact of government policy where it can be quantified with reasonable accuracy.

The Government expect the OBR to include the impact of the withdrawal agreement alongside its forecast of the UK’s economic and fiscal outlook as soon as sufficient information is available. That would contribute to the transparency which the noble Baroness, Lady Kramer, is looking for. But the Government cannot dictate when that might be. This is the important distinction. It is therefore not appropriate to request the OBR to produce analysis specifically for a legislative debate, as this will draw the OBR into political debate, which could undermine its reputation as an independent and objective institution.

Brexit: Financial Services Sector

Debate between Baroness Kramer and Baroness Goldie

Tuesday 23rd January 2018 Lords Chamber

[Baroness Goldie]

My noble friend articulates more succinctly and cogently than I can exactly what the sensitivity of these negotiations is. These sensitivities are well understood on the part of the Government; I just wish they were better understood elsewhere.

[Baroness Kramer (LD)]

My Lords, I spent the morning working with a large number of people in the financial services sector. Does the Minister understand how outraged many people are who have held back on their contingency planning in the expectation that there was to be clarification through this paper, and the number of people who practically pinioned me to the wall to pass her the message that this confirms to them that the Government are so internally riven that they do not have a negotiating position on this key area, and they are on their own?

[Baroness Goldie]

The noble Baroness seems to imply that the Government are operating in some kind of vacuum. They are not for two reasons, as was made very clear in December when we moved on to phase 2, the critical component of the negotiations when the very issues that so concern the noble Baroness will be the subject of discussion. It is not as though there is no engagement with the financial services industry; there is very close engagement. As my noble friend Lord Lamont made clear, this is a sensitive time in the discussions. It would be completely inappropriate to show hands and declare positions. The financial services industry is aware of what the Government seek in terms of their objectives. We take comfort from the position of London in the global financial world. The Z/Yen consultancy declared in September that London is the leading financial centre, ahead of New York which is second, Hong Kong, third and Singapore, fourth. Yes, we know what people in the financial services industry feel. Yes, we are cognisant of that and, yes, we are doing everything we can to robustly represent the best interests of the financial services industry.