Lords motion to take note of the first report of the Constitution Committee on The Governance of the Union: Consultation, Co-operation and Legislative Consent (HL 13). Agreed to on question.

Lords motion to take note of the first report of the Constitution Committee on The Governance of the Union: Consultation, Co-operation and Legislative Consent (HL 13). Agreed to on question.

My Lords, the Constitution Committee has published a number of insightful reports on the governance of the union. Among the most significant was the 2022 publication Respect and Co-operation: Building a Stronger Union for the 21st Century. This report meticulously highlighted the worrying deterioration in relations between the UK Government...

My Lords, the Constitution Committee has published a number of insightful reports on the governance of the union. Among the most significant was the 2022 publication Respect and Co-operation: Building a Stronger Union for the 21st Century. This report meticulously highlighted the worrying deterioration in relations between the UK Government...

My Lords, I will not keep you too long. I thank my noble friend Lady Anderson for her fulsome reply. It is much appreciated. I think my noble friend Lady Andrews and I feel that there is a certain timidity on the positive engagement principle: having drafted something in 2022...

My Lords, I will not keep you too long. I thank my noble friend Lady Anderson for her fulsome reply. It is much appreciated. I think my noble friend Lady Andrews and I feel that there is a certain timidity on the positive engagement principle: having drafted something in 2022...

My Lords, I refer to my interest as a trustee of a defined benefit pension scheme. I thank my noble friend Lord Davies for facilitating this debate.

Two of the restrictions placed on the PPF by the Pensions Act 2004 are, first, the levy ceiling and, secondly, that any increase in...

My Lords, I refer to my interest as a trustee of a defined benefit pension scheme. I thank my noble friend Lord Davies for facilitating this debate.

Two of the restrictions placed on the PPF by the Pensions Act 2004 are, first, the levy ceiling and, secondly, that any increase in...

Yes, reserves. Taking into account that and the levy reduction, it triggers the need to reflect that it is equally important to have regard to what is a fair striking of the balance between levy payer and member interests. This is the issue that I want to pause on, because...

Yes, reserves. Taking into account that and the levy reduction, it triggers the need to reflect that it is equally important to have regard to what is a fair striking of the balance between levy payer and member interests. This is the issue that I want to pause on, because...

My Lords, the Prime Minister is absolutely right to move quickly and ask Parliament to approve powers to protect and secure the UK steel industry. Urgent action today, which is what is before us, is absolutely in the interests of the nation and those communities where steel is such an...

My Lords, the Prime Minister is absolutely right to move quickly and ask Parliament to approve powers to protect and secure the UK steel industry. Urgent action today, which is what is before us, is absolutely in the interests of the nation and those communities where steel is such an...

My Lords, I refer to my entry in the register of interests as a trustee of pension schemes, and I thank the Minister for her clear explanation of the two statutory instruments before us.

I want to raise an issue concerning the Guaranteed Minimum Pensions Increase Order 2025. Given the pace...

My Lords, I refer to my entry in the register of interests as a trustee of pension schemes, and I thank the Minister for her clear explanation of the two statutory instruments before us.

I want to raise an issue concerning the Guaranteed Minimum Pensions Increase Order 2025. Given the pace...

My Lords, the Government’s recent announcement on measures to spur growth will increase the supply of infrastructure and productive investment for pension funds to invest in, but the fragmented nature of UK pension provision can hamper its ability to invest in such assets—in many instances, it cannot deal with the scale of investment required. Do the Government remain committed to addressing this capability problem as part of their strategy for growth?

My Lords, the Government’s recent announcement on measures to spur growth will increase the supply of infrastructure and productive investment for pension funds to invest in, but the fragmented nature of UK pension provision can hamper its ability to invest in such assets—in many instances, it cannot deal with the scale of investment required. Do the Government remain committed to addressing this capability problem as part of their strategy for growth?

My Lords, I declare my interest as a DB pension scheme trustee as recorded in the register. I thank my noble friend Lord Davies for securing this debate. This is an important code, and it should not pass without comment.

As the Explanatory Memorandum and my noble friend observe, while aggregate...

My Lords, I declare my interest as a DB pension scheme trustee as recorded in the register. I thank my noble friend Lord Davies for securing this debate. This is an important code, and it should not pass without comment.

As the Explanatory Memorandum and my noble friend observe, while aggregate...

My Lords, I declare my interest as a trustee of DB—defined benefit—and master trust pension schemes.

The Government’s mission to deliver sustained economic growth conveys an energy and purpose that I truly believe the country needs. Investment in the UK has been too low. The perception of government instability has made...

My Lords, I declare my interest as a trustee of DB—defined benefit—and master trust pension schemes.

The Government’s mission to deliver sustained economic growth conveys an energy and purpose that I truly believe the country needs. Investment in the UK has been too low. The perception of government instability has made...

Moved by

Baroness Drake

27: The Schedule, page 12, line 26, after “financial”, insert “risk, impact and”

Member’s explanatory statement

This amendment seeks to allow decision-makers in public bodies to consider the financial risk and impact associated with, for example, the delivery of contracted goods and services and the investments in the Local Government...

Moved by

Baroness Drake

27: The Schedule, page 12, line 26, after “financial”, insert “risk, impact and”

Member’s explanatory statement

This amendment seeks to allow decision-makers in public bodies to consider the financial risk and impact associated with, for example, the delivery of contracted goods and services and the investments in the Local Government...

My Lords, in moving Amendment 27, I shall speak in support of Amendments 45 and 46A in this group.

Part 2 of the Schedule allows exceptions for certain types of consideration from the prohibition in Clause 1. Amendment 27 seeks to expand on those exceptions by adding financial risk and impact...

My Lords, in moving Amendment 27, I shall speak in support of Amendments 45 and 46A in this group.

Part 2 of the Schedule allows exceptions for certain types of consideration from the prohibition in Clause 1. Amendment 27 seeks to expand on those exceptions by adding financial risk and impact...

My Lords, I thank everyone for participating in this debate, particularly those who supported my amendment.

I should make it clear that I have not actually challenged the manifesto commitment; lots of others do, but I have not. I have challenged that the manner of its implementation introduces legal uncertainty and...

My Lords, I thank everyone for participating in this debate, particularly those who supported my amendment.

I should make it clear that I have not actually challenged the manifesto commitment; lots of others do, but I have not. I have challenged that the manner of its implementation introduces legal uncertainty and...

I will say my last sentence.

I will say my last sentence.

I will accept the constraint.

Finally, I take the point about lawyers having been involved in drafting this. I do not mean to be rude but in the area of investment and pension decisions, the road is littered with government-cleared legislation and regulation that has ended up being problematic or challenged...

I will accept the constraint.

Finally, I take the point about lawyers having been involved in drafting this. I do not mean to be rude but in the area of investment and pension decisions, the road is littered with government-cleared legislation and regulation that has ended up being problematic or challenged...

As chair of the Constitution Committee, I should say that the answer from the Government went on to say that declarations could be as harmful as the boycotts themselves, and that was deployed in defence. It is quite right to clarify the point made by the noble Lord, Lord Beith,...

As chair of the Constitution Committee, I should say that the answer from the Government went on to say that declarations could be as harmful as the boycotts themselves, and that was deployed in defence. It is quite right to clarify the point made by the noble Lord, Lord Beith,...

My Lords, I thank the Minister and everyone who has participated in this debate. It has been hugely important for me because I am always reading and thinking about these issues, and I have learned a lot for when I go back to the committee. Even if I do not...

My Lords, I thank the Minister and everyone who has participated in this debate. It has been hugely important for me because I am always reading and thinking about these issues, and I have learned a lot for when I go back to the committee. Even if I do not...

Lords motion to take note of the seventeenth report of the Constitution Committee on Permanent Secretaries: their appointment and removal (HL 258 2022-23). Agreed to on question.

Lords motion to take note of the seventeenth report of the Constitution Committee on Permanent Secretaries: their appointment and removal (HL 258 2022-23). Agreed to on question.

My Lords, between 2013 and 2020, the number of Permanent Secretaries leaving averaged 5.7 a year. In 2020, 12 Permanent Secretaries or equivalents left their posts, including the Cabinet Secretary. In September 2022, the Treasury Permanent Secretary, Sir Tom Scholar, left his post on the day the right honourable Elizabeth...

My Lords, between 2013 and 2020, the number of Permanent Secretaries leaving averaged 5.7 a year. In 2020, 12 Permanent Secretaries or equivalents left their posts, including the Cabinet Secretary. In September 2022, the Treasury Permanent Secretary, Sir Tom Scholar, left his post on the day the right honourable Elizabeth...

I thank the Minister for the clarity of his presentation—this is a complex set of regulations—and for the briefing session that he arranged for Peers, where I was able to ask quite a lot of questions. I support these regulations but I want to take this opportunity to ask three...

I thank the Minister for the clarity of his presentation—this is a complex set of regulations—and for the briefing session that he arranged for Peers, where I was able to ask quite a lot of questions. I support these regulations but I want to take this opportunity to ask three...