"My Lords, as a keen football supporter, let me also add my congratulations on the performance of Wales. I look forward to Manchester United signing some of those players. On the specific question from the noble Lord, that is a matter for the next Prime Minister. What has been committed …..." Lord O'Neill of Gatley - View Speech
"My Lords, I suspect that this will be a rather repetitious session. It will be a decision for the new Prime Minister. Wales is not the only place in the United Kingdom that is in this position, and there are many others that we have to consider...." Lord O'Neill of Gatley - View Speech
"My Lords, as I mentioned in my opening statement, the legislation that is currently being discussed in the other place makes provision for the Welsh Government to use income taxes to give themselves a lot more leeway to spend and invest in the way that they see fit...." Lord O'Neill of Gatley - View Speech
"My Lords, I shall now repeat as a Statement the Answer to an Urgent Question made by the Chancellor in the other place.
“Mr Speaker, I have always sought to level with the British people about the economic challenges we now face, but to mix that realism with reassurance that …..." Lord O'Neill of Gatley - View Speech
"My Lords, in the interests of time, I shall try to be brief. In the framework that has existed over the past six years there has been a well-identified escape clause in the event that GDP is foreseen to go below 1% for four consecutive quarters. That is the circumstance …..." Lord O'Neill of Gatley - View Speech
"My Lords, in repeating the Chancellor’s Statement I clearly said that tomorrow the Financial Policy Committee will report on its recommendations and the Treasury remains in a position to act on whatever advice is given with respect to support for whatever area of business—small, large or otherwise—that may or may …..." Lord O'Neill of Gatley - View Speech
"My Lords, in response to my noble friend’s question, let me repeat that the fiscal charter, including all its rules, allowed specifically that if an external shock—in this case one that we essentially brought upon ourselves—would result in a four-quarter basis GDP forecast of less than 1% the framework could …..." Lord O'Neill of Gatley - View Speech
"My Lords, I notice to my right some noble Lords with strong views on and experience of these kinds of events. Let me just reflect on my own judgments, including some from my past life. Let me also quickly state that in the last week our long-term borrowing costs have …..." Lord O'Neill of Gatley - View Speech
"My Lords, forecasts are forecasts and I have spent a considerable part of my life having that dubious challenge. We are dealing with an outcome as opposed to a forecast. From what I remember of the specifics, I do not remember a statement that interest rates “will” rise, I thought …..." Lord O'Neill of Gatley - View Speech
"My Lords, I could give a very brief answer and say, “No, I can’t tell you what is going to happen in the autumn”. It is pretty hard these days to tell people what is going to happen next week...." Lord O'Neill of Gatley - View Speech