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1-20 of 30 results for member:"Lord Bilimoria"

Session X
2007-08

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My Lords, we were given to understand that Northern Rock was nationalised to prevent systemic failure. We were also given to understand that it was nationalised to protect jobs in the region and in Northern Rock and to save the taxpayer money. Can the Minister confirm what percentage of jobs have been lost at Northern Rock since the nationalisation? Furthermore, I heard the Government say that they might be making a profit for the taxpayer from Northern Rock. Can the noble Lord confirm what losses have been made at Northern Rock since nationalisation?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
26 November 2008
Reference
705 c1444
House
House of Lords

My Lords, we had an extensive debate that highlighted what this House is all about as it involved Members with world-class expertise, including three former Chancellors of the Exchequer. Our debate finished at 9.58 pm. The Treasury’s press release was dated yesterday. What stopped the Government circulating a copy of...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
4 November 2008
Reference
705 c126
House
House of Lords

My Lords, last week during a debate I tabled on reforming global financial institutions, it was made clear that the situation is so critical, and the threat to our economy so severe, that we have no time to go on apportioning blame. I believe that all our focus and all...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
3 November 2008
Reference
705 c28-30
House
House of Lords

asked Her Majesty’s Government what is their assessment of the effectiveness of international financial institutions such as the International Monetary Fund and the World Bank. The noble Lord said: At the conclusion of the Bretton Woods conference in 1944, to universal applause, John Maynard Keynes paid tribute to his colleagues,...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
30 October 2008
Reference
704 c59-61GC
House
House of Lords

Lords question for short debate on what is their assessment of the effectiveness of international financial institutions such as the International Monetary Fund and the World Bank.

Lead member
Lord Bilimoria
Answering member
Lord Myners
Department
Treasury
Type
Questions for short debate
Date
30 October 2008
Reference
704 c59-73GC
House
House of Lords

My Lords, I welcome the Minister’s Statement, in that the Government are seen to be trying to do something to help small business, but I do not accept his statement that taxation is the Chancellor’s responsibility—because I think that he can speak up for small business. How can small businesses...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
22 October 2008
Reference
704 c1151
House
House of Lords

My Lords, I congratulate the noble Lord on his appointment and on a super maiden speech. Having accompanied him in his previous role on visits to India, I look forward in my role as the chair of the UK India Business Council to working closely with him in the future....

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
16 October 2008
Reference
704 c856-7
House
House of Lords

My Lords, I congratulate the Government on what they are doing. Huge steps are being taken over here, and I think we all appreciate the efforts being made. I have three points for the Minister. With regard to preference shares, as the noble Lords, Lord Barnett and Lord Dearing, mentioned,...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
8 October 2008
Reference
704 c248
House
House of Lords
My Lords, there is a saying that good judgment comes from experience and experience comes from bad judgment. What lessons have the Government learnt from the nationalisation of Northern Rock—which, after five months of indecisiveness, was nationalised in a rushed-through manner in three days? Here we are eight months later: we have no permanent major reform to the Bank of England, which is desperately needed.
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
8 October 2008
Reference
704 c235
House
House of Lords

My Lords, on the Friday before Remembrance Sunday every year, there is a ceremony at the Memorial Gates on Constitution Hill. The ceremony is to remember, honour and show our gratitude to the 5 million individuals from India, Pakistan, Bangladesh, Sri Lanka, Nepal, Africa and the Caribbean who served in...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
4 July 2008
Reference
703 c495-8
House
House of Lords

My Lords, according to the World Health Organisation, overweight people now outnumber the malnourished. That is not a boast; it is an indictment. One billion people in the developed world are overweight; 300 million are obese. In sharp contrast, we heard the noble Lord, Lord Taverne, saying that more than...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
3 July 2008
Reference
703 c366-9
House
House of Lords
My Lords, what proportion of these extortionate oil prices does the Minister think is made up by speculation? Does he believe that there is an oil price bubble and will it burst?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
25 June 2008
Reference
702 c1435
House
House of Lords
My Lords, the Chancellor’s former statement—we are talking about ““no more boom and bust””—could arguably today be rephrased as ““boom, then bust””. Does the Minister believe in economic cycles? What proportion of our economic predicament today does he believe is on account of global conditions? What plans do the Government have to prevent a recession?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
4 June 2008
Reference
702 c152
House
House of Lords
My Lords, the ethnic restaurant industry has contributed a huge amount to this country. Indian food, for example, has become a way of life. However, the industry is seriously concerned about the points-based system, which will make it very difficult to recruit skilled staff. Are the Government aware of this and are they planning to make some exceptions?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
2 June 2008
Reference
702 c11-2
House
House of Lords

My Lords, as I mentioned in my maiden speech in your Lordships' House, when I came to this country in the early 1980s as a 19 year-old from India, from my higher education, Britain was the sick man of Europe with no respect in the world economy. The City of...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
22 May 2008
Reference
701 c1568-71
House
House of Lords
My Lords, I thank the Minister for that reply. We all appreciate the fact that the Monetary Policy Committee controlled inflation in what the governor referred to as the ““nice decade””. Does the Minister agree that now, with inflation rising at its fastest rate in six years and the economy cooling seriously, the Government are stuck between—if your Lordships will pardon the pun—a rock and a hard place? Does he agree that one of the advantages of being outside the euro is that we can set our own interest rates, but what is the point if we do not have the flexibility? How do the Government expect the Governor of the Bank of England to be able to stimulate economic growth if he has his hands tied behind his back?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - 1st Supplementary
Status
Answered
Date
20 May 2008
Reference
701 c1354
House
House of Lords
Whether the Monetary Policy Committee of the Bank of England’s inflation target of 2 per cent is constraining the committee’s ability to stimulate economic growth.
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Lead
Status
Answered
Date
20 May 2008
Reference
701 c1354
House
House of Lords
My Lords, last year, the Government injected £25 billion into Northern Rock, more than has been put into any other company or organisation anywhere in the world by a Government, to avoid financial meltdown. Further, the Government have helped by a further £50 billion the whole of the banking community, yet, as we are seeing, the banks are not passing on mortgage cuts to the borrowers. Unless there is something wrong with my maths, the fall from 5.9 per cent to 5.72 per cent means that the average reduction in mortgage rates is about a quarter of a per cent at a time. The banks are not passing on the cuts. What can the Government do to encourage the banks to pass on those benefits?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
7 May 2008
Reference
701 c557
House
House of Lords
My Lords, we all know that the World Trade Organisation Doha development round has stalled primarily because of agricultural subsidies, in particular with regard to the United States and the European Union. Do the Government think that it is justified that we in the European Union, for example, subsidise our pals by $2 a day when nearly 1 billion people around the world live on less than $1 a day? Does the Minister sympathise with those who accuse the West and the European Union in particular of preaching fair and free trade but of practising protectionism?
Asked by
Lord Bilimoria (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
21 April 2008
Reference
700 c1252
House
House of Lords

I want to make a point which has been overlooked time and again: the fact that a Government have injected £25 billion to rescue any organisation is almost unprecedented in the world. The magnitude is staggering. It has never been done for any other bank, let alone for any other...

Member
Lord Bilimoria (Crossbench)
Type
Proceeding contributions
Date
21 February 2008
Reference
699 c280-1
House
House of Lords