I apologise to the noble Earl, Lord Ferrers, for once again evidencing the fact that I still have much to learn. Of course I will not be elected, but I am looking forward, as I am sure the noble Earl understands, to the Labour Party being re-elected. I was going...

I apologise to the noble Earl, Lord Ferrers, for once again evidencing the fact that I still have much to learn. Of course I will not be elected, but I am looking forward, as I am sure the noble Earl understands, to the Labour Party being re-elected. I was going...

My Lords, is the noble Lord going to be elected to the Government?

My Lords, is the noble Lord going to be elected to the Government?

I thank the noble Viscount, Lord Eccles, for that intervention. I am happy to reassure him and other Members of the House that 1 April, as referred to by the noble Lord, Lord Newby, is merely a number that has been used for planning-assumption purposes when the FSA is preparing...

I thank the noble Viscount, Lord Eccles, for that intervention. I am happy to reassure him and other Members of the House that 1 April, as referred to by the noble Lord, Lord Newby, is merely a number that has been used for planning-assumption purposes when the FSA is preparing...

My Lords, before the Minister sits down, with regard to the question asked by the noble Lord, Lord Newby, I draw the Minister’s attention to Part 2 of the new Schedule 1A, which is headed "Funding". New paragraph 11(1), headed, "Meaning of ‘the relevant costs’", says: ""In this Part of...

My Lords, before the Minister sits down, with regard to the question asked by the noble Lord, Lord Newby, I draw the Minister’s attention to Part 2 of the new Schedule 1A, which is headed "Funding". New paragraph 11(1), headed, "Meaning of ‘the relevant costs’", says: ""In this Part of...

My Lords, I will not delay the House very much longer.

My Lords, I will not delay the House very much longer.

No, this is Committee stage; you can talk as many times as you like. The noble Lord should not delay the proceedings. I was going to remind the noble Lord, Lord Myners, that he is indeed privileged, as are the rest of us, in that, following dissolution, he will get...

No, this is Committee stage; you can talk as many times as you like. The noble Lord should not delay the proceedings. I was going to remind the noble Lord, Lord Myners, that he is indeed privileged, as are the rest of us, in that, following dissolution, he will get...

I note what the noble Lord says, which of course applies to this Bill and to others, but I understand that the practice of wash-up has been used by Parliament in the past in these situations. I am a regular reader of the excellent website Lords of the Blog, where...

I note what the noble Lord says, which of course applies to this Bill and to others, but I understand that the practice of wash-up has been used by Parliament in the past in these situations. I am a regular reader of the excellent website Lords of the Blog, where...

I am not quite clear. Although the noble Lord says that this new council is not an executive body and is purely advisory, he also says that he disagrees with the amendments tabled by my noble friend Lady Noakes which seek to define what the authorities do. How will people...

I am not quite clear. Although the noble Lord says that this new council is not an executive body and is purely advisory, he also says that he disagrees with the amendments tabled by my noble friend Lady Noakes which seek to define what the authorities do. How will people...

My Lords, I have no doubt that the chairman and chief executive of the FSA, the governor and deputy governors of the Bank of England, the Chancellor of the Exchequer and his junior Ministers all know precisely what their roles are. They know where they operate with their independent executive...

My Lords, I have no doubt that the chairman and chief executive of the FSA, the governor and deputy governors of the Bank of England, the Chancellor of the Exchequer and his junior Ministers all know precisely what their roles are. They know where they operate with their independent executive...

My Lords, I believe that they are to be transferred to the consumer financial education body.

My Lords, I believe that they are to be transferred to the consumer financial education body.

It did not seem to me that I was in any way out of order. I merely wanted to ask the noble Lord, Lord Newby, whether he knows to what institution these members of staff are to be transferred.

It did not seem to me that I was in any way out of order. I merely wanted to ask the noble Lord, Lord Newby, whether he knows to what institution these members of staff are to be transferred.

I shall resist the temptation to follow the Minister’s political bait. He is waxing eloquently about this model and how it will work, with the three parties operating in co-operation. My noble friend Lord Higgins made the point as to how it will differ from what we have had before,...

I shall resist the temptation to follow the Minister’s political bait. He is waxing eloquently about this model and how it will work, with the three parties operating in co-operation. My noble friend Lord Higgins made the point as to how it will differ from what we have had before,...

I was going to answer my noble friend’s point at an appropriate stage. Perish the thought that I would seek to avoid doing that. I am not sure where the date of 1 April comes from, other than it being both April Fools’ Day and my birthday. I have lived...

I was going to answer my noble friend’s point at an appropriate stage. Perish the thought that I would seek to avoid doing that. I am not sure where the date of 1 April comes from, other than it being both April Fools’ Day and my birthday. I have lived...

I apologise for interrupting the Minister, but in all the hubbub he may have forgotten that he has not answered his noble friend’s point on whether he expects the Bill to receive Royal Assent by 1 April.

I apologise for interrupting the Minister, but in all the hubbub he may have forgotten that he has not answered his noble friend’s point on whether he expects the Bill to receive Royal Assent by 1 April.

My Lords, I am not aware that that is the case. I certainly do not think that there is any basis on which anyone could have been told correctly that they would be TUPE-ed on 1 April unless that was conditional on the Bill receiving parliamentary approval. I can envisage...

My Lords, I am not aware that that is the case. I certainly do not think that there is any basis on which anyone could have been told correctly that they would be TUPE-ed on 1 April unless that was conditional on the Bill receiving parliamentary approval. I can envisage...

I can speak to the effectiveness of the tripartite group during the middle and later stages of the financial crisis. I became a Minister in the Treasury in October 2008 and it seemed to me that the tripartite was in almost constant session for the next four months. I am...

I can speak to the effectiveness of the tripartite group during the middle and later stages of the financial crisis. I became a Minister in the Treasury in October 2008 and it seemed to me that the tripartite was in almost constant session for the next four months. I am...

I am interested to hear what the noble Lord, Lord Peston, says because I know he believes that the answers to all questions must be given by economists.

I am interested to hear what the noble Lord, Lord Peston, says because I know he believes that the answers to all questions must be given by economists.

Several noble Lords have made that kind of point. To my certain knowledge, not a single economist of any standing in the whole world predicted what happened in 2007. It is not in the least surprising, therefore, that the decision-makers in this country were somewhat taken aback. To the extent...

Several noble Lords have made that kind of point. To my certain knowledge, not a single economist of any standing in the whole world predicted what happened in 2007. It is not in the least surprising, therefore, that the decision-makers in this country were somewhat taken aback. To the extent...

A major financial crisis falls within the field of economics rather than politics, to put it mildly.

A major financial crisis falls within the field of economics rather than politics, to put it mildly.

The language I used was "no material expenditure".

The language I used was "no material expenditure".