argyrotsipi/train-dataset huggingface dataset:
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Theodore Agnew (Conservative, Centre-right): I share the concerns of the right reverend Prelate about jobs. The honest answer is that we do not have enough visibility on the impact to the economy beyond March. Coming out of lockdown, we saw a steady reduction in the number of people using the furlough scheme. It dropped every month from July to August to September. I do not have all the information yet, but hopefully it will be published shortly. The key is whether we can avoid extending this awful lockdown beyond 2 December. I am confident that if we can avoid that, we will see a rapid pick up of the economy, which will hopefully reduce the number of job losses that the right reverend Prelate is so concerned about.
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Theodore Agnew (Conservative, Centre-right): I agree with the noble Viscount that we face an unprecedented storm of events, and I share his concern. On the role of the Treasury and, indeed, my other department, the Cabinet Office, we are doing a great deal to try to ameliorate some of this. For example, project speed, on which I deputise for the Chancellor, has brought together a number of initiatives to pump prime the economy—and we have published our first initiatives on that. We have a further possible 80 projects, which will be used to pump prime the economy, dealing with blockages to infrastructure, speeding up infrastructure, the commitment to building additional schools and accelerating the building of 40-odd hospitals. We have announced through the IPA some £37 billion of infrastructure, and I hope that we will announce around the time of the spending review the national infrastructure strategy, which will show further the investment that the Government are making.
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Rosalind Altmann (Conservative, Centre-right): My Lords, I welcome the extension of the economic and job support schemes and congratulate the Chancellor on his willingness to adopt flexibility and have the courage to change tack when the economy and public health winds changed. However, I have to say that I regret that a new lockdown was deemed necessary and believe that the damage caused to public health and the economy as a result needs to be much more thoroughly analysed. Does my noble friend agree that the job support measures that have been introduced have been facilitated by the Bank of England’s quantitative easing policy? In combination with the job support measures, it is rather like helicopter money or people’s QE. What impact do Her Majesty’s Government expect it to have on UK defined benefit pension schemes? Would not it be better for the economy to encourage companies and pension schemes to invest directly in the economy to boost growth rather than encouraging them to buy more fixed income, as interest rates continually fall?
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Theodore Agnew (Conservative, Centre-right): The noble Baroness is right that QE is providing a level of financing for the interventions that the Government are taking at the moment. I think that she will understand that those interventions are having to be made extremely quickly to protect lives and livelihoods across the whole country. Long term, I absolutely agree with her that we need to get businesses to invest more in the economy. One initiative that I am exploring is to try to encourage local government pension funds to allocate a greater proportion of their investments to infrastructure; at the moment, it is a very low figure. I am sure that there is more we can do to loosen the rules without, of course, putting those pension assets at undue risk.
Economy Update — House of Lords, 2020-11-10
Topic: Social Welfare
Theodore Agnew (Conservative, Centre-right): I thank the noble Lord for his supportive comments. I completely agree with him that intergenerational solidarity is vital as we come through this crisis. I worry about the cliff edge of debt that we are generating, but I accept his point that we need to be here today for all those very vulnerable people who we have tried to help over the past six months. I hear what the noble Lord says about the complexity of eligibility. I am pleased to confirm to him that we are working to make clearer eligibility criteria. They have been introduced for the third SEISS grant, and we have committed to there being a fourth grant early next year.
Economy Update — House of Lords, 2020-11-10
Topic: Social Welfare
Theodore Agnew (Conservative, Centre-right): The noble Baroness knows that this Government certainly do not support a universal basic income, but we are very aware of the vulnerability of many self-employed people. We have tried to close as many of the gaps as we can. As I mentioned in my answer to the noble Lord, Lord Bird, we have clarified the criteria in the latest round. The noble Baroness will know that we have made the entitlement more generous and extended it not just to November through until January.
Economy Update — House of Lords, 2020-11-10
Topic: Labor
Sayeeda Warsi (Conservative, Centre-right): My Lords, I welcome the Government’s decision to provide clarity and stability by extending the furlough scheme to March. I also draw the House’s attention to my entry in the register of interests. Can my noble friend provide some clarity for those businesses that took out coronavirus business interruption loans and bounce-back loans, many of which were taken out around April this year and therefore will be coming up to the anniversary in April next year? Has any thinking been done in government about what will happen to those loans, such as when repayments will start, what rates of interest are likely to be incurred and whether there will be an extension of the interest-free period to enable businesses to stabilise before those payments start?
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Theodore Agnew (Conservative, Centre-right): No firm decisions on that have been made, other than what was announced a few weeks ago, which was to extend the payment period of the bounce-back loans to 10 years and to confirm that those businesses that took out less than their 25% eligibility up to the £50,000 cap could return to top up to the full amount. We will of course keep under close review how the economy reacts as we come out of this pandemic, as we hope, and how quickly businesses are able to recover from it.
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Theodore Agnew (Conservative, Centre-right): My Lords, the Government are in constant contact with the business community. They absolutely accept that the wealth creation engine of our economy is vital for us to recover from this pandemic. I share the noble Lord’s optimism about the vaccine. Of course, we need to be careful—we are not through the last hurdle yet—but it is certainly nice to have a little bit of good news occasionally. I have answered the point about the self-employed, raised by several other noble Lords. It is perhaps worth reminding the noble Lord that we have improved the universal credit system to try to provide a little more protection at that end of the system. We have also confirmed that those on mortgage holidays can extend to six months without any impact on their credit file.
Economy Update — House of Lords, 2020-11-10
Topic: Foreign Trade
Theodore Agnew (Conservative, Centre-right): The noble Lord raises a number of questions. Perhaps I may reassure him that the Government are in constant dialogue with business at all levels. He is right that we face some uncertainty on 1 January with the emerging exit from the transition period. It will certainly be helpful if we can get some kind of clarity within the next couple of weeks. However, he should also understand that, whether we get a deal or not, we are leaving on 1 January and we will be out of the customs union. The only real difference for businesses will be the tariff structures that exist and their preparedness for that. We are doing an enormous amount of work to support businesses in being ready for that, including work at the ports and inland sites to ensure that the disruption that the noble Lord is concerned about is minimised.
Economy Update — House of Lords, 2020-11-10
Topic: Macroeconomics
Archibald Gavin Hamilton (Conservative, Centre-right): My Lords, are my noble friend Lord Robathan and I alone in worrying about the accumulated national debt? How much will this furlough scheme cost if it lasts until the end of March? By how much will the national debt increase as a percentage of GDP, and at what stage does the national debt as a percentage of GDP become unsustainable? Let us face it, this lockdown may not even be necessary, based as it was on bogus statistics, and imposed at a time when the incidence of coronavirus was decreasing both in hospitals and in the numbers of people being infected.
Economy Update — House of Lords, 2020-11-10
Topic: Labor
Theodore Agnew (Conservative, Centre-right): My noble friend asks about the cost of this current extension of furlough. I am not able to give him the answer to that yet simply because we do not know how many firms and employees will take advantage of it over the next few months. During the last lockdown we saw a very dramatic reduction in the numbers claiming each month as the economy opened up again. We have built in the flexibilities that we did not include initially in the first lockdown so that employees and employers can work as flexibly as possible to protect both businesses and their employees. I share my noble friend’s concern about the overall costs of this and the risk to our balance sheet.
Areas with Additional Public Health Restrictions: Economic Support — House of Lords, 2020-10-07
Topic: Macroeconomics
Joanna Penn (Conservative, Centre-right): My Lords, the furlough scheme was not replaced in the expectation of a V-shaped recovery. The Government would, of course, love to have a V-shaped recovery, but I do not think anyone has been that optimistic so far. However, we are in a very different place from when furlough was put in place. We are not in the position of a lockdown—we are attempting to do everything we can to avoid such measures—and, while there are restrictions in place, many businesses are able to trade and go about their business, albeit at reduced levels. That is why so much support has been put in place, including, for example, extending the VAT cut on hospitality from January to March. We will continue to respond when necessary, but the furlough scheme represented a particular phase in our response to coronavirus and we are in a different phase now.
Areas with Additional Public Health Restrictions: Economic Support — House of Lords, 2020-10-07
Topic: Macroeconomics
Joanna Penn (Conservative, Centre-right): My Lords, my understanding is that there is ongoing communication with local leaders in all the areas affected by local lockdowns. I am sure we can always do better, and we will continue to strive to do so. The noble Baroness is absolutely right that the economy in different parts of the country is incredibly different, so we will work with local leaders to try to reflect that in our response. We have provided some national measures to support jobs, but there will also need to be a local response in areas that have the severest restrictions.
Health Protection (Coronavirus, Collection of Contact Details etc and Related Requirements) Regulations 2020 — House of Lords, 2020-10-07
Topic: Macroeconomics
Archibald Gavin Hamilton (Conservative, Centre-right): I think that my noble friend the Minister would accept that these measures being taken to combat the pandemic have to involve a trade-off with what happens in the economy. If we go back to the original decision to lock down the economy totally in March, if someone had made the point at that stage that it would result in 70% of our businesses shutting down completely for three months with the result that millions of people would lose their jobs—many for the foreseeable future—would we have reached that original decision to go for total lockdown I agree that most countries took the view that total lockdown was the answer, but the Swedes did not. The result is that the Swedish economy is forecast to shrink this year by something like 5.5%, while the latest figures are that our economy will shrink by between 11% and 12%—double the rate and double the impact of job losses. That is also true of this measure I have only one question for my noble friend. Was a cost-benefit analysis ever carried out before the original measures were taken to lock down the economy totally, and has such an analysis been made on the measures before the House today?
Health Protection (Coronavirus, Collection of Contact Details etc and Related Requirements) Regulations 2020 — House of Lords, 2020-10-07
Topic: Government Operations
Michael Morris (Conservative, Centre-right): I have two quick points. Paragraph 10.1 of the Explanatory Memorandum says: "There has been no public consultation in relation to this instrument." My question is whether there should be automatic consultation with relevant trade bodies and associations, so that they are on side. In that way, they can be helpful, rather than being left on the sidelines, having to criticise. My second short point is that local authorities are still complaining that they are not being contacted, either in time or in depth. An earlier speech by a noble Lord raised that problem. I thank the Deputy Speaker for allowing me to add to the three points I made earlier.
Covid-19 Update — House of Lords, 2020-09-10
Topic: Law and Crime
James Bethell (Conservative, Centre-right): My Lords, it is not a mutant algorithm that is sending people to hospital in France, Spain, Belgium and other countries up and down Europe, and it is not a desire to introduce a police state that is seeing prevalence leading to hospitalisation and death in many countries in Europe. It is our fear that Britain is going that way that leads us, regretfully, to put these measures in place; it is not any desire to exert state influence.
Covid-19 Update — House of Lords, 2020-09-10
Topic: Education
James Bethell (Conservative, Centre-right): My Lords, the regulations are not in place at the moment to test the millions of teachers and other important workers who are returning to the workplace on a regular basis. We have neither the science nor the capacity to do so, but we are reviewing this and looking at ways of using testing to restore confidence and enable a return to workplaces or other situations where social distancing is more challenging.
Covid-19 Update — House of Lords, 2020-09-10
Topic: Government Operations
James Bethell (Conservative, Centre-right): I completely agree with the sentiments shared by my noble friend. Transparency has the effect of sunlight, putting a spotlight on information. It helps those who wish to contribute to make their efforts felt. We have embraced transparency: I cite the example of SAGE, where the minutes of its meetings and the data it works on are routinely published. I completely endorse my noble friend’s comments.
Electricity and Gas (Internal Markets and Network Codes) (Amendment etc.) (EU Exit) Regulations 2020 — House of Lords, 2020-09-10
Topic: Energy
Anne McIntosh (Conservative, Centre-right): My Lords, I thank my noble friend and congratulate him on introducing what appear to be largely technical regulations. I have a couple of questions My understanding is that the regulations specifically do not apply to Northern Ireland and that it has been excluded. I wondered what the reasoning was for that. As we know, Northern Ireland is back in the news again because of the implications of the Northern Ireland protocol, but, given that an all-Ireland energy market will be in place anyway, what are the implications of Northern Ireland being specifically excluded from these regulations? I understand that the Explanatory Memorandum tells us that this might currently be useful for the Northern Ireland Executive but that they might seek to refer to the statutory instrument and apply it in their domestic legislation in the future. To me, that is particularly unfortunate. It would be helpful to know what the status of Northern Ireland, whose grid system and internal energy market are wholly integrated with those of the Republic of Ireland, will be. In my view, it would be better if all in the UK worked on the same basis from day one. Therefore, my first question is this: what are the implications for the UK’s internal market of Northern Ireland remaining in the all-Ireland energy market Secondly, under this statutory instrument, what is the legal position from 1 January for new interconnectors? For example, I understand that there is to be an interconnector bringing energy—presumably electricity and gas—from Denmark. What legal regime will apply? Will that be covered by the regulations before us today or will it be considered at a later date The rest of these regulations seem straightforward. I am grateful for the opportunity to comment on them and would be grateful to receive a reply to my questions.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: Foreign Trade
Gerald Grimstone (Conservative, Centre-right): My Lords, I welcome the constructive exchanges which the noble Lord and I have had on this matter. We have a mutual interest in ensuring that Parliament is able to carry out its scrutiny processes effectively. I look forward to continuing our debate on this important topic during Report on the Trade Bill.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: Foreign Trade
Gerald Grimstone (Conservative, Centre-right): My Lords, I always consider carefully the points made by the noble Lord. Cheaper imports to the UK benefit the UK economy, so the FTA is not entirely one-sided. I agree that Parliament has to have the information available to allow its scrutiny processes to work effectively.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: International Affairs
Gerald Grimstone (Conservative, Centre-right): The noble Baroness makes a good point. It is important that the impact assessments that we produce for each of these agreements cover these matters fully. If Parliament has this information, our debates can be more comprehensive and effective. As she says, these are extremely important matters.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: Foreign Trade
Andrew Lansley (Conservative, Centre-right): My Lords, I am a member of the International Agreements Sub-Committee. It is our job to report to this House on these continuity trade agreements. On 3 November, Ministers signed the agreement with Kenya which will come into force on 1 January. We have not yet seen the text of this agreement. If it is a copy and paste, why not share it immediately? If it involves new commitments, does not Parliament especially need to scrutinise them? When will we see it? How are we to conduct parliamentary scrutiny before it comes into force? If we do not, is this not unsatisfactory?
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: International Affairs
Gerald Grimstone (Conservative, Centre-right): I pay tribute to the work done by the IAC. It is a very effective mechanism. My noble friend referred specifically to the Kenya agreement. Agreement in principle has been reached but some loose ends are still being tied up with the Kenyan authorities. As soon as the agreement is signed, it will follow the normal processes and there will be full parliamentary scrutiny allowed.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: Foreign Trade
Gerald Grimstone (Conservative, Centre-right): I thank the noble Earl for his comments about the Japan free trade agreement. Like other Members of this House, I am looking forward to our debate on it in a couple of weeks’ time. We are following the spirit—if not the letter—of the Command Paper to which he refers.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: International Affairs
Gerald Grimstone (Conservative, Centre-right): My noble friend recognises, as I do, the importance of reaching an agreement with Canada. Of course, the agreements that we will reach with Canada, those we hope to reach with Australia and New Zealand and the agreement we have reached with Japan are all vital precursors to fulfilling our ambition to accede to the Trans-Pacific Partnership. It is a complex matter; there are 11 countries in that partnership, and it will take time to bring all this to the point where the meal can be served, as opposed to just being cooked. Once we get to that point, Parliament will be fully involved.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: Foreign Trade
Gerald Grimstone (Conservative, Centre-right): The noble Lord makes a good point. The free trade agreements are vitally important for the African countries; we are well seized of that. We have an active dialogue with them, and look forward to strengthening those agreements as we go forward.
Continuity Trade Agreements: Parliamentary Scrutiny — House of Lords, 2020-11-18
Topic: International Affairs
Gerald Grimstone (Conservative, Centre-right): My Lords, the noble Baroness refers to comments that I made in my previous life, when I was chairing a major business in China for the United Kingdom. It is important to realise the context within which those comments were made but, as I have said previously at this Dispatch Box, I have no patience with authoritarian regimes and I am completely in agreement with the Government’s policy in relation to China.