Speeches by Glen.

“One other aspect worthy of scrutiny is the situation whereby a developer sets up a management company made up of family members of the original developer, leaving residents with a real challenge to get to the heart of who is truly accountable. That is something that I have seen in my constituency, and I am sure that it…”

“For 15 years, I have found it impossible to say anything on the subject of Israel and Palestine without it being completely unsatisfactory to either side of the debate, but I have to say, having got to know the hon. Member for Earley and Woodley (Yuan Yang) pretty well on the Treasury Committee, that I was profoundly c…”

“When the right hon. Lady leaves South Swindon and goes into Wiltshire, she will be pleased to note that the £20.7 million the Government have given to Wiltshire has been added to with £22 million put aside by Wiltshire council to maximise the impact. Could she say something about the connectivity between Bristol and So…”

“The dean of Salisbury cathedral visited me recently to tell me about a visit he had made to the Nassar family farm—the Tent of Nations—just south of Bethlehem, near the Palestinian village of Nahallin. He expressed grave concerns about the situation the family finds itself in. What conversations has the hon. Lady had w…”

“The Office for Budget Responsibility confirmed this week that the tariffs announced have not been factored into the forecast, nor has the effect of the Employment Rights Bill. I talked to local businesses in Salisbury last Friday at a Budget breakfast, as I have done for the last eight years, and they are very concerne…”

“So you can rule out further tax increases.”

“Well, answer the last one first, perhaps.”

“Chancellor, can I turn to the issue of tariffs? The last time you were before this Committee, on 6 November, there was some uncertainty about the complexion of the new Administration in the US, but you said: “we will make strong representations about the importance of free and open trade, not just between ourselves and…”

“Sure, but I think it is fair to say—obviously, you are not the arbiter of the US’s tariff and trade policy—that the consequences of what has already been announced are quite significant. What concerns the Committee is that the OBR world economy forecast, which is based on the IMF forecast, does not incorporate any of t…”

“What do you see as the key practical steps that our regulators can take? You talk about deferring the implementation of Basel 3.1 to align with what other jurisdictions are doing. This has been talked about for a very long time, and it is quite unclear. We folded the PSR into the FCA, but what tangibly do you think wil…”

“But what does that produce? With regard to the letters, I've been there, I've done that. What the industry wants to know is, what practical steps are you taking to hold their feet to the fire?”

“Nor the Employment Rights Bill, to be fair.”

“The Committee visited the Bank of England and met the Governor and the deputy governors a few months ago. Just to be clear, do you see any particular threat from the US Administration to the fragmentation of global financial regulation?”

“The FCA and the PSR.”

“Thank you, Chancellor. I certainly recognise the complexity and the trade-offs that you are inevitably having to deal with. May I ask you about the mechanics of how trade and tariffs are calibrated? The OBR makes assertions around the severity of the response and what impact that would have. Does the Treasury do its ow…”

“May I ask one final question, thinking about America specifically, the relationship with America, and some of the instincts and language, and indeed follow-through policies, of the Trump Administration with respect to global financial regulatory fragmentation? What work is going on in your teams around financial servic…”

“Obviously, the consequences of the cross-party consensus on spending £400 billion on furlough and other ameliorations of covid have had a massive scarring effect on the economy. Can we turn to what you might actually do with respect to mitigations of where the tariffs seem to be going? There seems to be a spectrum of r…”

“If the OBR were here, I imagine that it would say, “We do things based on what the considered policy of the Government is, and there was a degree of uncertainty over exactly how it was going to play out,” but I guess that is always the case. At the end of the day, the effects of the tariffs as stated were going to have…”

“It is on page 43.”

“Can I turn to Mr Johnson on these forecasts? The OBR’s world economy forecast incorporates the data from the IMF’s January forecast, which again does not take account of the recent developments in the US. One of the central problems that is emerging—I think all Governments face this—is that when there is grave uncertai…”