My Lords, as a former Defence Secretary, I pay my own tribute to the 457 British service personnel who lost their lives in Afghanistan and the many hundreds more who suffered life-changing injuries. I know that many people will be asking whether their sacrifice was in vain, and I want...

My Lords, as a former Defence Secretary, I pay my own tribute to the 457 British service personnel who lost their lives in Afghanistan and the many hundreds more who suffered life-changing injuries. I know that many people will be asking whether their sacrifice was in vain, and I want...

My Lords, I draw attention to my interests, as set out in the register, in various businesses associated with property, including long leasehold property, though, I hasten to add, not including residential ground rents. As the Minister has already made clear, this is the first part of a two-stage reform...

My Lords, I draw attention to my interests, as set out in the register, in various businesses associated with property, including long leasehold property, though, I hasten to add, not including residential ground rents. As the Minister has already made clear, this is the first part of a two-stage reform...

To ask Her Majesty's Government what progress they have made towards the development of a new British Embassy in Beijing; and whether permission for the construction of that new embassy has been approved by the government of China.

To ask Her Majesty's Government what progress they have made towards the development of a new British Embassy in Beijing; and whether permission for the construction of that new embassy has been approved by the government of China.

My Lords, I draw attention to my directorship of OakNorth International and my membership of the international advisory board of Nomura, both of them banks.

It is a privilege to address your Lordships’ House for the first time. It may be only 100 yards from the other place, but it is...

My Lords, I draw attention to my directorship of OakNorth International and my membership of the international advisory board of Nomura, both of them banks.

It is a privilege to address your Lordships’ House for the first time. It may be only 100 yards from the other place, but it is...

Before I decide whether to jump on the Prime Minister’s bus, I would like to be just a little clearer about the destination; I would like to be reassured that it remains the deep and special partnership with the European Union that we promised the British people in our 2017...

Before I decide whether to jump on the Prime Minister’s bus, I would like to be just a little clearer about the destination; I would like to be reassured that it remains the deep and special partnership with the European Union that we promised the British people in our 2017...

Thank you, Mr Speaker. I want us to leave the European Union with a deal and I voted three times to leave the European Union with a deal. I regret the fact that it has become necessary for this Bill to be brought forward now, and it is necessary now...

Thank you, Mr Speaker. I want us to leave the European Union with a deal and I voted three times to leave the European Union with a deal. I regret the fact that it has become necessary for this Bill to be brought forward now, and it is necessary now...

I absolutely agree, but we have heard clearly that we cannot rule out the possibility that the Government will dispute the interpretation of the Bill and that there will be a need for litigation in the courts, to ensure that its effect is delivered.

We need to act because there is...

I absolutely agree, but we have heard clearly that we cannot rule out the possibility that the Government will dispute the interpretation of the Bill and that there will be a need for litigation in the courts, to ensure that its effect is delivered.

We need to act because there is...

My right hon. Friend has assured me that he is very keen to get a deal with the European Union, but last Friday Chancellor Merkel of Germany observed somewhat acerbically that nine days into the 30 days that the Prime Minister had requested during his visit to Berlin, she had...

My right hon. Friend has assured me that he is very keen to get a deal with the European Union, but last Friday Chancellor Merkel of Germany observed somewhat acerbically that nine days into the 30 days that the Prime Minister had requested during his visit to Berlin, she had...

In accordance with the Charter for Budget Responsibility, the Office for Budget Responsibility (OBR) has today published its second Fiscal Risks Report (FRR). The OBR published its first FRR in 2017, which the government responded to in 2018 through the Managing Fiscal Risks report (MFR). FRR 2019 fulfils the OBR’s...

In accordance with the Charter for Budget Responsibility, the Office for Budget Responsibility (OBR) has today published its second Fiscal Risks Report (FRR). The OBR published its first FRR in 2017, which the government responded to in 2018 through the Managing Fiscal Risks report (MFR). FRR 2019 fulfils the OBR’s...

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 09 July 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 08 July...

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 09 July 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 08 July...

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 09 July 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following:

Early Morning Session

The Eurogroup President will brief the Council on the outcomes...

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 09 July 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following:

Early Morning Session

The Eurogroup President will brief the Council on the outcomes...

As I think the hon. Gentleman knows, that position is enshrined in statute, and only this House of Commons could change it.

As I think the hon. Gentleman knows, that position is enshrined in statute, and only this House of Commons could change it.

I regularly discuss EU exit with the Secretary of State for Scotland and other members of the Cabinet. The Government remain committed to securing a deal that works for the entire United Kingdom.

I regularly discuss EU exit with the Secretary of State for Scotland and other members of the Cabinet. The Government remain committed to securing a deal that works for the entire United Kingdom.

I have consistently made the case and explained to this House that there is fiscal headroom within the current fiscal rules. If we have a smooth exit from the European Union through a transition that will remove the economic uncertainty that is hanging over our economy, it will then be safe to release that headroom and make it available for additional public spending or, at the choice of the next Government, to reduce taxation. Either way, we have the headroom available once we have removed the Brexit uncertainty.

I have consistently made the case and explained to this House that there is fiscal headroom within the current fiscal rules. If we have a smooth exit from the European Union through a transition that will remove the economic uncertainty that is hanging over our economy, it will then be safe to release that headroom and make it available for additional public spending or, at the choice of the next Government, to reduce taxation. Either way, we have the headroom available once we have removed the Brexit uncertainty.

I announced at the spring statement that it is the Government’s intention to conduct a three-year spending review concluding this autumn, subject to a deal with the EU being completed. Departments are already commissioned to carry out the work necessary for such a spending review, but it will be for the new

Government to decide whether the circumstances make it appropriate to conduct a full three-year spending review or a single-year exercise.

I announced at the spring statement that it is the Government’s intention to conduct a three-year spending review concluding this autumn, subject to a deal with the EU being completed. Departments are already commissioned to carry out the work necessary for such a spending review, but it will be for the new

Government to decide whether the circumstances make it appropriate to conduct a full three-year spending review or a single-year exercise.

As I have consistently said in this House, I do not believe that a no-deal exit would be in the interests of this country, and I will do everything I can to ensure that we avoid it, but an exit based on a negotiated deal that allows us to continue a close trading relationship with the European Union can work for Britain, and that is what I will be arguing for.

As I have consistently said in this House, I do not believe that a no-deal exit would be in the interests of this country, and I will do everything I can to ensure that we avoid it, but an exit based on a negotiated deal that allows us to continue a close trading relationship with the European Union can work for Britain, and that is what I will be arguing for.

Yes, my hon. Friend is exactly right. The Scottish economy would be far more adversely affected by a breach of trading relationships with the rest of the United Kingdom than it will by a breach in trading relationships with the European Union.

Yes, my hon. Friend is exactly right. The Scottish economy would be far more adversely affected by a breach of trading relationships with the rest of the United Kingdom than it will by a breach in trading relationships with the European Union.

As the right hon. Gentleman would have heard me say if he had been in his place earlier, I announced in the spring statement that it is the Government’s intention to conduct a three-year spending review, concluding this autumn, subject to a deal with the EU being completed. He asks whether I plan to launch the spending review before the summer recess: I can tell him that Departments have already been commissioned to carry out the work necessary for such a review. It must be for the new Government to decide, in the circumstances, whether it is appropriate to conduct a full three-year spending review or a one-year exercise.

As the right hon. Gentleman would have heard me say if he had been in his place earlier, I announced in the spring statement that it is the Government’s intention to conduct a three-year spending review, concluding this autumn, subject to a deal with the EU being completed. He asks whether I plan to launch the spending review before the summer recess: I can tell him that Departments have already been commissioned to carry out the work necessary for such a review. It must be for the new Government to decide, in the circumstances, whether it is appropriate to conduct a full three-year spending review or a one-year exercise.

I fear that the right hon. Gentleman is manifestly asking the wrong person that question. I literally cannot answer it. The purpose of a spending review is that such matters can be looked at in the round, and the responsible way to do a spending review is first to set the envelope of what is affordable, and then to look at the different bids, which will—I can confidently predict—greatly exceed the available spending power, and prioritise. That is the difficult business of government, and that is why I am not in favour of ad hoc spending commitments or tax cut commitments being made.

I fear that the right hon. Gentleman is manifestly asking the wrong person that question. I literally cannot answer it. The purpose of a spending review is that such matters can be looked at in the round, and the responsible way to do a spending review is first to set the envelope of what is affordable, and then to look at the different bids, which will—I can confidently predict—greatly exceed the available spending power, and prioritise. That is the difficult business of government, and that is why I am not in favour of ad hoc spending commitments or tax cut commitments being made.

As my hon. Friend knows, we have signed off the Truro funding decision, and I am sure she is happy about that. The Prime Minister has made very clear that dealing with the challenges in the housing market is a priority for the Government, and in the spending review we will continue to prioritise funds to support both the housing market and the provision of social and affordable housing.

As my hon. Friend knows, we have signed off the Truro funding decision, and I am sure she is happy about that. The Prime Minister has made very clear that dealing with the challenges in the housing market is a priority for the Government, and in the spending review we will continue to prioritise funds to support both the housing market and the provision of social and affordable housing.