Grass-roots Music Venues

Debate between Lord Livermore and Lord Brennan of Canton

Monday 26th January 2026 Lords Chamber

[Lord Livermore (Lab)]

As noble Lords will know, I am very happy to agree with the noble Earl on the last point he raises: the incredibly damaging effect of Brexit on that sector in particular. He will like to know that, along with the EU, we have jointly recognised the value of travel and cultural artistic exchanges, including the activities of touring artists, and we will continue our efforts to support travel and cultural exchange. We will explore how best to improve arrangements for touring across the European continent with the EU and other EU member states.

[Lord Brennan of Canton (Lab)]

My Lords, the Minister will be aware that I am leading a fan-led review of live music as commissioned by the Culture Committee in the House of Commons. One of the things that comes clearly from fans’ voices is that they are happy to pay a levy if they know it is going to grass-roots music venues in order to support them, unlike the obscure levies they sometimes have to pay, or other service charges on top of ticket prices. With that in mind, will the Government commit in the forthcoming ticketing legislation to include taking powers for a statutory levy just in case the voluntary levy does not work out?

[Lord Livermore (Lab)]

I am very grateful to my noble friend for the work he is doing in the review he mentions. I do not think it is for me to commit the Government to that specific point, but I will of course take it back and discuss it with colleagues in other departments as well.

Cryptocurrencies: US Regulation

Debate between Lord Livermore and Lord Brennan of Canton

Wednesday 12th November 2025 Lords Chamber

[Lord Brennan of Canton (Lab)]

My Lords, do the Government have in mind any lessons from history when considering the potential consequences on the finances of ordinary people of a regulatory race to the bottom with regard to any kind of financial instrument?

[Lord Livermore (Lab)]

Possibly, but I do not at all share the characterisation made by my noble friend of a regulatory race to the bottom. As I have said, we will regulate in the UK’s national interest. The Government will bring forward the final legislation to create a financial services regulator regime for crypto assets this year. Clearly, we must strike the right balance between giving firms regulatory certainty, protecting consumers and ensuring that the sector has the space and flexibility to innovate.

Stablecoin Ownership

Debate between Lord Livermore and Lord Brennan of Canton

Thursday 16th October 2025 Lords Chamber

[Lord Livermore (Lab)]

The UK Government recognise that facilitating stablecoin innovation is important for UK competitiveness. The Bank of England is the independent regulator for systemic stablecoin and can design its regime as necessary to manage the associated risks. However, it is a matter for the Government to decide whether to recognise firms as systemic and then bring them into the Bank’s regulation. The Treasury and Bank of England maintain a close and ongoing dialogue on the legal and regulatory treatment of stablecoins, in support of the Government’s objective to make the UK a global destination for digital assets.

[Lord Brennan of Canton (Lab)]

My Lords, in the interests of pushing back the frontiers of ignorance, can the Minister explain, in simple words for the benefit of the House, what stablecoin actually is and whether I can receive my old age pension in it—which I am due to start getting from today?

[Lord Livermore (Lab)]

I wish my noble friend a very happy birthday— his question allows me to give him a good present. It is fair to say that, right now, he cannot receive his state pension in stablecoin, but the fact that there is potential for that to evolve highlights the importance of the issues raised in this Question and of having exactly the right regulatory regime going forward.

UK Border Strategy: Single Trade Window

Debate between Lord Livermore and Lord Brennan of Canton

Tuesday 25th February 2025 Lords Chamber

[Lord Livermore (Lab)]

I am grateful to the noble Lord for his question, but let us remember what the costs are that we are trying to reduce here: they are from the previous Government’s ill-conceived Brexit deal, which imposed new trade barriers on businesses equivalent to a 13% increase in tariffs for manufacturing and 20% in tariffs for services. As a result, the Office for Budget Responsibility found that GDP will be 4% lower and overall trade intensity will be 15% lower than had the UK remained in the European Union. Of course, we want to try to ameliorate the difficulties of the previous Government’s disastrous Brexit deal, but it will take time to ensure that the fiscal resources are there. As I say, it remains our long-term intention to deliver that single trade window, but we can do so only when resources allow.

[Lord Brennan of Canton (Lab)]

My Lords, it is not just trade in goods that is important but trade in services. The last Government promised free cultural touring after Brexit, but they were unable to deliver it. What progress are this Government making in delivering a cultural touring agreement with the European Union to allow musicians and other artists to perform more freely across Europe?

[Lord Livermore (Lab)]

I am grateful to my noble friend for his question. It was a key manifesto commitment of this Government to deliver those touring visas and it remains a key ask of ours in the EU reset negotiations. We recognise that delivering such new agreements will take time, but we are ambitious and we want to move forward at pace.