"My Lords, the noble Lord has raised an important and interesting question. It is something that I spend quite a lot of time trying to explore. It is a feature throughout the western world that levels of cash held by corporations, including in economies that might be perceived as being …..." Lord O'Neill of Gatley - View Speech
"My Lords, most of the independent measures of competitiveness would actually rank the UK among the highest in the world. On the first part of the noble Lord’s question, there has not been any official devaluation of our currency. It was a consequence of what happened, and in the context …..." Lord O'Neill of Gatley - View Speech
"My Lords, I think I heard two questions from the noble Lord. I cannot resist saying that I seem to remember that the era of chronic balance of payments problems as described goes back to the 1960s, which precedes not only Conservative Governments; those of different colours were in town …..." Lord O'Neill of Gatley - View Speech
"Of all the aspects of the productivity challenge I have focused on, this is not one I have given that much attention to. I hope it is not necessary for us to go to war to do something about boosting our productivity performance...." Lord O'Neill of Gatley - View Speech
"My Lords, I have two quick answers. First, there are many investment projects that have, in principle, been committed to all over the United Kingdom, not just in Wales. Secondly, I am unaware of any specific delay on anything that has been agreed with respect to the Swansea tidal lagoon …..." Lord O'Neill of Gatley - View Speech
"My Lords, my simple answer is no, I cannot tell the noble Lord because I am not entirely sure what he is specifically referring to. I also point out—I look forward to discussions with the new Welsh Economy Minister—that the scope for devolution inside Wales greatly depends on decisions for …..." Lord O'Neill of Gatley - View Speech
"My Lords, I thank the noble Lord for pointing out the specific legal status of the EIB for those unfamiliar with it. It is the case that any change to the EIB’s shareholder structure or lending activity is a decision for member states. It is important that we pursue discussions …..." Lord O'Neill of Gatley - View Speech
"My Lords, the third repetition of the day. That specific issue will be a choice for the new Prime Minister. Many other parts of the United Kingdom are facing a similar challenge...." Lord O'Neill of Gatley - View Speech
"My Lords, Ministers regularly meet to discuss issues relating to the economy of Wales. The role and ambition of the Welsh Government in economic investment in Wales is clearly important. They are responsible for a significant proportion of capital spending in Wales, with £8.7 billion of capital block grant funding …..." Lord O'Neill of Gatley - View Speech