Lord Newby
Main Page: Lord Newby (Liberal Democrat - Life peer)Department Debates - View all Lord Newby's debates with the HM Treasury
(12 years, 5 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Sassoon
My Lords, I very much doubt it. We are looking at the proposals for strengthening governance as they have been put on the table, and that is clearly what needs to be done. We should not rely on the auditors to sort out all our problems.
Lord Newby
My Lords, if the eurozone’s Finance Ministers decide that they want limited treaty changes, will the Minister be prepared to go slightly beyond his earlier answer and confirm that the UK Government will not stand in the way of any treaty changes to bring greater discipline within the eurozone, because it is clearly in our national interest as much as theirs that new rules are put in place?
Lord Sassoon
I am of course prepared to go a bit further in answer to my noble friend’s question. If such treaty changes are put forward, the Government will look to advance the UK’s national interest at that point, as appropriate. Above all, that means protecting and safeguarding our essential economic interests, and we will seek to do that.