The economic situation

Lord Norton

There will be a full debate in the House on Monday on the current economic situation.  More than forty peers will be taking part.  Lord Myners will lead for the Government.   Speakers will include eight peers who have served in the Treasury (three as Chancellor of the Exchequer), economists (including four professors), leading figures in business and the City (such as Baroness Noakes and Lords Blyth of Rowington, Bilimoria, James, and Oakeshott) and several with central experience in Government (including Lord Powell of Bayswater).  It should be notable for its quality as well as its length.

8 comments for “The economic situation

  1. 30/10/2008 at 8:56 pm

    […] leading figures in business and the City

    This reminds me. Have you any IT experts in the Lords? And please forgive me if I’ve already asked this in the past.

  2. 30/10/2008 at 10:54 pm

    While so many Peers are gathered together to debate the economy, please remember it is the little people who work hard and are now losing their homes, their livelihood, while their hard earned money is being used through their taxes toward massive handouts STILL to people in some cases that have helped cause the situation this Country finds itself in ‘today’.

    I do believe the question should be asked, and I mean this most sincerely, just how much longer does Government and the remainder of Parliament expect the people to continue paying their taxes when they see so much unfairness ‘at the top’?

    When, in normal times way back during the ratification of the Treaty of Lisbon, the people were completely ignored when Government knew the people wanted a say on the very constitutional Treaty of Lisbon. One newspaper offered the people a vote and 90% of those that voted wanted out of the EU.

    I hope you have a full debate and one in which you put the people and this Country first. When looking at the economy, also look at the full amounts owing through PFI for the next thirty to fifty years. Look at the Billions we pay to the EU and the added money it costs to what little industry we have left because of all the EU’s legislation. Look how much is paid through VAT which we, as an alleged sovereign country cannot reduce without reference to the EU.

    I look forward to reading Hansard to see if those figures are recorded along with others I haven’t asked about.

  3. Senex
    01/11/2008 at 1:05 pm

    New Labour and their electorate fell in love with each other and got ‘married’. It was a very special relationship, each being in the debt of the other.

    Its rather odd though?

    These same people feeling threatened by the economic downside now want to borrow their way out of depression by a return to retail therapy just like how it used to be.

    How can their partner borrow whilst they cannot? Are these grounds for a divorce citing unreasonable behaviour? Will the courts I wonder be comfortable deciding who gets the house?

  4. Len
    02/11/2008 at 1:22 pm

    I would also be interested in hearing how many IT experts the House of Lords has in it.

  5. lordnorton
    02/11/2008 at 3:47 pm

    Liam and Len: We have a number peers who have an interest in IT, such as Lord Baker (who previously chaired the Information Committee)and Lord Harris of Haringey; however, the most notable member with expertise in the field is Lord Methuen, who has been a computer system engineer with both IBM and Rolls Royce.

  6. lordnorton
    02/11/2008 at 3:51 pm

    Anne Palmer: I don’t know if the cost of PFI and the money paid in to the EU will figure in Monday’s debate – I think it unlikely as they are not generally treated as germane to the current economic crisis – but they are both issues that are of concern; the cost of the EU most certainly has been raised and I have little doubt that the future burden created by PFIs has also been variously raised.

  7. 07/11/2008 at 1:55 am

    Thank you very much for the detailed response, Lord Norton.

  8. Senex
    22/01/2009 at 8:48 pm

    I thought the Tory in you might find this of interest?

    It does not add up to much?

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