Financial Services and Markets Bill

Baroness McIntosh of Hudnall Excerpts

Committee stage
Tuesday 21st March 2023 Grand Committee

[Baroness Penn (Con)]

My Lords, we may not wish to repeat the debate that we had in the Chamber earlier this year, but I was going to address my noble friend’s question about retail versus wholesale and the point from the noble Lord, Lord Vaux, about the use case for a CBDC.

The noble Lord, Lord Eatwell, made one of the points in relation to a CBDC. We want to ensure that central bank money, which is currently available to the public only as cash, remains useful and accessible to the public in an ever more digitalised economy. We have heard about access to cash in our debates earlier in Committee.

[The Deputy Chairman of Committees (Baroness McIntosh of Hudnall) (Lab)]

My Lords, I am sorry to interrupt the Minister but there is a Division in the Chamber. The Committee will adjourn for 10 minutes, after which we will resume and allow the Minister to finish what she had to say.

Theatre Tax Relief

Baroness McIntosh of Hudnall Excerpts

Thursday 9th March 2023 Lords Chamber

[Baroness McIntosh of Hudnall (Lab)]

My noble friend Lord Bassam referred in his question to changes in audience behaviour since the pandemic, which has had a very serious impact on the ability of performing arts in particular to plan confidently. Audiences appear to respond to strong, novel programming, which is where the highest initial risk tends to lie. Has the Treasury made any assessment of the potential loss to the Treasury if performing arts organisations and others start to decrease their investment, thereby damaging the potential they have to draw audiences, which would then impact Treasury revenue?

[Baroness Penn (Con)]

My Lords, the points that the noble Baroness makes are entirely those that we would want to consider in looking at the issue. She is absolutely right about the value and the costs when it comes to the production of these shows, which is why the tax relief is focused there. She is also right that they can bring huge economic benefit, including through exports, attracting visitors to the UK and productions going on the road. Those are the kinds of things that the DCMS and the Treasury will consider when looking at the tax relief.

Financial Services and Markets Bill

Baroness McIntosh of Hudnall Excerpts

Committee stage
Tuesday 7th March 2023 Grand Committee

[The Deputy Chairman of Committees (Baroness McIntosh of Hudnall) (Lab)]

My Lords, if the noble Lord, Lord Holmes, will forgive me for interrupting him, I am afraid that there is a Division in the Chamber. The Committee will adjourn for 10 minutes, but perhaps the noble Lord will resume his speech when the Committee resumes.

--- Later in debate ---

[The Deputy Chairman of Committees (Baroness McIntosh of Hudnall) (Lab)]

My Lords, could I just have the attention of the Committee for a second? The 10 minutes are now up but we know that there will be another vote, almost certainly immediately after the result of this one has been declared. Perhaps it would be better if the Committee did not properly resume until after that vote is completed, if that is agreeable to noble Lords.

--- Later in debate ---

[Lord Blackwell (Con)]

My Lords, since I have not spoken in Committee so far, I should remind noble Lords of my interest as a former chairman of a bank and a current shareholder. However, I am not going to defend the service levels of banks, which I recognise need improvement.

On these amendments, I point out that, while I understand the rationale behind the desire to maintain access to cash, everything has a cost. We need to consider the cost of what is proposed as well as the benefit. My noble friend Lady Noakes is right that the shift towards digital and away from cash has snowballed over the past few years. It is not just customers who prefer not having to carry cash around. Many small businesses, clubs, associations and societies find it much easier now to have a low-cost terminal with which they can process membership dues, fees or even small transactions. It makes the accounting so much easier and avoids having to deal with collecting and disbursing large amounts of cash.

The move towards digital is happening across the whole economy. People talk about keeping branches open but there are many branches where only a handful of people come in during the week. When you think about the cost of maintaining the building infrastructure, as well as the staffing, security and systems, the cost per transaction becomes astronomical. Those costs have to be borne by somebody; they are borne by the other bank customers in higher fees, charges and interest rates. Nothing comes without a cost so we have to consider what the appropriate cost-benefit answer is.

As many noble Lords have said, clearly there are people who find it difficult to use digital technology and need access to cash, but there are other ways of—

[The Deputy Chairman of Committees (Baroness McIntosh of Hudnall) (Lab)]

My Lords, I apologise for interrupting the noble Lord but I am afraid that there is another Division in the Chamber. The Committee will adjourn for 10 minutes and we will resume with the noble Lord, Lord Blackwell, when the moment comes.

Russia: UK Companies

Baroness McIntosh of Hudnall Excerpts

Thursday 8th December 2022 Lords Chamber

[Baroness Penn (Con)]

I do not have that information with me, but I can take it back to the department and write to all noble Lords.

[The Deputy Speaker (Baroness McIntosh of Hudnall) (Lab)]

My Lords, it appears there are no further questions on that Urgent Question.

Small Business, Enterprise and Employment Bill

Baroness McIntosh of Hudnall Excerpts

Wednesday 28th January 2015 Grand Committee

Relevant documents: 11th and 13th Reports from the Delegated Powers Committee

[The Deputy Chairman of Committees (Baroness McIntosh of Hudnall) (Lab)]

My Lords, I remind the Committee that, in the event of a Division in the Chamber, the Committee will adjourn for 10 minutes from the sound of the Division Bell.

Clause 40: The Adjudicator

Clause 40 agreed.

Children: Television

Baroness McIntosh of Hudnall Excerpts

Tuesday 1st July 2014 Lords Chamber

[Lord Newby]

My Lords, the slight problem with that line of argument is that it would open the way to tax breaks on virtually every kind of expenditure. At the moment, as noble Lords will be aware, the Government’s ability to make tax cuts is severely constrained by the overall financial situation.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, does the Minister not agree that that is a counsel of despair? The children’s television that is produced in this country is, generally speaking, of a very high quality. He mentioned earlier that the problem for that sector of the industry is in finding a market. If there were more of it, there might be a bigger market for it overseas as well as in the UK. Some encouragement to what is a widely respected part of the industry might not come amiss and would certainly help to encourage our exports.

[Lord Newby]

My Lords, the noble Baroness makes a strong point. Again, this is the point that the industry is making and that the Treasury will listen to and consider over the coming months.

Thames Garden Bridge

Baroness McIntosh of Hudnall Excerpts

Thursday 9th January 2014 Lords Chamber

[Lord Deighton]

The general answer to that question has to be along the same lines. Just as this project still needs to pass the business case to be allocated the £30 million that is pencilled in, similarly we will do our work on other projects in a sensible way and respond to priority needs as they occur. I should just point out that the reason that the Treasury is putting in £30 million is that it is the sensible way to kick-start a fundraising effort. It is much easier to fundraise when people can see that the Government are behind a project and that it the first part of the funding has already been raised.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, does the Minister agree that Bernard Shaw was right when he said, nearly a century ago, that on the whole the British never want anything? They particularly did not want, for example, the National Theatre. They got it and are now very proud of it. The same thing is true of the London Eye. Does he not agree that the same thing, in time, may be true of the Garden Bridge?

[Lord Deighton]

I sympathise with that very insightful point. As someone who has worked on both the Olympics and HS2, I suspect that the Garden Bridge may get a welcome rather sooner than either of those projects did.

Autumn Statement

Baroness McIntosh of Hudnall Excerpts

Thursday 5th December 2013 Lords Chamber

[Lord Deighton]

I thank the noble Lord for his analysis of our need for investment. We also talked about productivity. The review that the noble Lord referred to that the Treasury did on corporation tax is what we describe as dynamic modelling, which means understanding the long-term effects of the tax cuts and demonstrating that the increase in income that flows afterwards pays for the majority of them. The way that we are dealing with making sure that overseas companies pay their fair share is through the OECD and taking leadership internationally. I think that is the only way that you can do it. You have to be able to deal with these international companies on a global basis, otherwise it is impossible to close them down, so that is probably the right way to approach it. The general trend of getting people to pay less tax and making sure that everybody pays that tax is the right strategy, and one that is working well for this country.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, I was not here at the beginning so I merely repeat something that has been said by somebody else. I do not believe the Minister answered the question from my noble friend Lord McFall about the OBR. Perhaps I could repeat the question. I believe my noble friend asked why the OBR was predicting that the economic situation would get worse in the years ahead.

[Lord Deighton]

The short answer is that you would probably need to ask it. As a former economist I can take this lightly, but in the short term, where I would rely much more on their forecast, the recovery is strong. In the longer term, if you look at the way the OBR handles it, it shows a fan of growth forecasts which comprehends just about every single possibility in the longer term.

Children: Childcare Costs

Baroness McIntosh of Hudnall Excerpts

Thursday 31st January 2013 Lords Chamber

[Lord Newby]

My Lords, obviously one of the problems with simply having a tax relief-based scheme is the one that the right reverend Prelate refers to. That is why we are looking at a number of options, some of which are tax based and others of which are not. I hope very much, however, that the Government will be in a position to make an announcement on this very shortly.

[Baroness McIntosh of Hudnall]

My Lords, going back to the question from the noble Earl, Lord Listowel, does the Minister agree that one of the real problems in the provision of childcare is the very low rates of pay that are awarded to people who are in fact qualified and have a great deal to offer, but who are in the main only able to earn extremely low wages? If the Government’s plan is to put more burdens on those people by increasing the numbers of children that they can look after, is it likely that that will do anything at all either for the childcare or for the people delivering it?

[Lord Newby]

My Lords, I think the question that we have to look at in terms of the number of children is why it is that those countries that, by common consent, have the best childcare provision in the world have higher ratios of children. The answer is partly that we need to have a combination of things of which better training is one. The pay is very low, but the Government will fund the additional free support which I mentioned earlier at a higher average rate of pay than is currently paid across the sector.

Education: English Baccalaureate Certificate

Baroness McIntosh of Hudnall Excerpts

Monday 14th January 2013 Lords Chamber

[Baroness McIntosh of Hudnall]

My Lords, the noble Earl, Lord Clancarty, is a tireless advocate for the arts and culture in this House. We owe him a big debt of gratitude, not least for the opportunity to discuss the topic of this debate. I remind the House of my interests, which include membership of the board of the Royal Shakespeare Company.

Over my 40-year involvement with the performing arts in this country, I have watched the relationship between them and the education system develop from one of what I think one could describe as a mutually respectful distance to the rich, full-blown network of innovative partnerships that we have all over the country today. I do not think that there is a theatre company, orchestra or dance troupe in the land that does not regard education as a central part of its remit and there are few schools which do not benefit from that work.

In addition, there are many organisations, such as two with which I am proud to be associated—the Roundhouse and Artis Education—which have created, in very different ways, brilliant programmes to enhance and enrich the school curriculum. So much has been achieved. Therefore, how is it that we now have to defend those achievements against the reductive effect of a narrowly focused range of EBacc subjects?

The Secretary of State for Education has repeatedly asserted that culture and the arts are important for all young people and I am sure that he is sincere. He is, after all, as Mark Antony remarked of Brutus, “an honourable man”. Indeed, he recently made it possible for his department to fund the introduction into all maintained secondary schools of the RSC’s Shakespeare toolkit, which is a brilliant performance-based—noble Lords should note well, performance-based—programme for teachers. But at the same time, as we have heard, a recent Ipsos MORI report for the Department for Education shows that in 2012 27% of schools were already making reductions in the range of subjects offered at GCSE. Of that figure, 23% were in the performing arts. Does the Minister think that there might be a bit of a paradox here?

The Minister, for whom we all have a high regard, will no doubt do her best to persuade the House that schools are not being actively prevented from offering arts subjects. Of course, technically, she will be right. But when, in five years’ time, arts subjects in our schools have gone into the sort of decline that we saw with modern languages once they were no longer a compulsory element of the curriculum, that will be no defence. I have a sinking feeling that the battle to include arts subjects in the EBacc is lost for no reason other than a profound unwillingness on the part of the Government to admit an error. But what can the Minister now tell us about other means by which they might propose to ensure that young people in all our schools, not just those in the independent sector—which, by the way, seem to understand the argument about the importance of the arts rather better than the Government—are able to access the richness of their cultural inheritance? For certain it is that, without strong government intervention, the rot which has already set in will spread at a gallop.