Extract from Lords motion to approve the Financial Services
and Markets Act 2000 (Regulated Activities) (Amendment) Order 2018
The Minister of State, Department for International Development
(Lord Bates) (Con):...The noble Baroness, Lady Kramer, was quite
right to highlight the importance of this particular market, worth
$3.5 trillion now, but it is also the fastest growing element. If
we desire, as we do, to seek to retain our position as the world’s
pre-eminent financial market, we...Request free trial
Extract from Lords motion
to approve the Financial Services and Markets Act 2000
(Regulated Activities) (Amendment) Order 2018
The Minister of State, Department for International
Development (Lord Bates) (Con):...The noble Baroness, Lady
Kramer, was quite right to highlight the importance of this
particular market, worth $3.5 trillion now, but it is also the
fastest growing element. If we desire, as we do, to seek to retain
our position as the world’s pre-eminent financial market, we need
to be as strong in areas of Islamic finance as we are in other
areas of finance. Whether it is Masala or rupee-denominated bonds
from India or renminbi-denominated bonds
from China, this is a great financial centre and we want to keep it
that way. That is why we are introducing this instrument...
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Extracts from Commons
debate on National Policy Statement: Airports (Heathrow
Expansion)
(Chelsea and Fulham)
(Con):...The related question is on connectivity, and it
is not just about Heathrow but about London’s airports as a whole.
Much has been made of Frankfurt and Amsterdam overtaking Heathrow
in respect of connectivity, but that misses the point. What about
the whole nation’s connectivity? And Heathrow is actually already
pretty well connected. It may surprise people to know that 10
Chinese cities—Beijing, Shanghai, Changsha, Chongqing, Guangzhou,
Hong Kong, Qingdao, Sanya, Wuhan and Xian—are currently connected
directly to Heathrow each day. And to London as a whole, 28 US
cities are connected to London airports, along with 13 Polish
cities, seven in India and eight in Canada—more than
either Frankfurt or Amsterdam. The growth of destinations served by
London airports has been huge, and they have been point-to-point
flights. The direction of modern aviation is towards point-to-point
direct flights...
Dame (Liverpool, Riverside)
(Lab/Co-op):...Heathrow is particularly important for
freight, especially to countries outside Europe. Adding one flight
to each of Heathrow’s five routes to China would deliver an extra
£16 million per annum to our economy, creating 530 jobs, and that
cannot be done without the expansion of Heathrow. All the main
business organisations, including the Confederation of British
Industry, the Institute of Directors and the British Chambers of
Commerce, have repeatedly warned that cargo capacity to pivotal
trading markets in Shanghai, Delhi and Dubai is virtually full. The
CBI is concerned that if additional capacity is not available by
2030, we could lose £5 billion per annum in trade to Brazil,
Russia, India and China alone. These concerns
are echoed by the major trade unions. We ignore these warnings at
our peril...
Mr (Slough)
(Lab):...Fourthly, on the UK’s transport infrastructure,
let us not forget what this proposal means for thousands of people
who will be able to use a new runway, as customers, to travel to
destinations unknown to previous generations. As our Parliament
deliberates on whether we build one new runway, it is worth
reminding ourselves that India will be building 50 new airports and
the Chinese will be building 136 new airports by 2025. When
weighing all this evidence, and with the Slough people foremost in
my mind, I will be voting in favour of expanding Heathrow when the
House divides. I will do so without any sense of jubilation, nor am
I handing Ministers a blank cheque. I will be keeping an eagle eye
on how the Government implement this project. Ministers and
Heathrow airport will rue the day they seek to renege on their
promises in principle to the people of Slough...
To read the whole debate, CLICK
HERE
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