Speeches by Maynard.

“Our strategic export licensing criteria state specifically that licences should not be granted where there is “a clear risk that the items might be used to commit or facilitate a serious violation of international humanitarian law.” Given that the courts have sent this question back to Parliament, does the Minister acc…”

“4. If he will suspend the export of UK-produced F-35 components to Israel.”

“On the Northumberland line, where they flipped a freight line to a passenger line and they had LVC voluntary legally binding contributions up and down, there were 28 that funded about 30% of that project. Obviously, the Land Compensation Act 1961 is a pain for doing this, and I think the Government are looking at re-ex…”

“Good, thank you.”

“Thank you, and thank you all for being here. The rail network enhancement plan budget is about £2 billion per year. Can you give an overview of what your Department is doing to develop private finance options for rail investments to make that go further, because £2 billion is not a whole hill of beans? Before you jump …”

“Would either of you gentlemen like to add something to that?”

“The next question is about investment grade. A year ago, last July, Thames Water breached its operating licence, whereby it has to have two investment-grade credit ratings. It has not had that since last July. We are 12 months on. As per May this year, Moody’s is now unable to state a credit rating, because it does not…”

“With the Chair’s permission: would you mind writing to the Committee to set out what your reasoning is with regard to the ultimate controller?”

“I refer members to my register of interests. Sarah Cardell, hi. Thank you for being here. How do you see and manage the tension between maintaining free and open markets and going for growth?”

“Hi, David. It is good to see you. Who is the ultimate controller of Thames Water?”

“Here we are talking very earnestly about removing regulation. The reality is that we are now living in a much more regulated world. By the way, I give your Government credit for trying for the UK-EU reset and trying to reduce some of that. That is great; I just hope that you move a lot more quickly than you are moving …”

“Legislation such as what?”

“Can you give me some examples?”

“Just following the logic of it, we now have European regulations and UK regulations. If you are a business owner, you had only one set before. You now have two. Does that mean that you have more regulations or fewer?”

“I am going to be a bit unfair on that. Does that mean that we have more regulations because we are outside and that businesses have to be compliant? Is that fair or unfair?”

“Good afternoon, everybody. Roughly 45% of our goods exports go to the EU. Those goods need to be compliant with EU regulation in order to be sold there. We now have a growing body of UK regulation as well. In this post-Brexit world, are we more regulated or less regulated for British business?”

“I worked in M&A for 24 years and I am really spooked by anything that lightens up on the structural remedies, because M&A exists to reduce competition. If we are heading towards, “Trust us, it is all going to be behaviourally sorted,” that might be so for one or two years, but structurally you have lost a competitor. T…”

“In terms of structural versus behavioural remedies, could you say a little about where you are headed or whether there is any change in direction?”

“OMERS is the largest shareholder in Thames Water. Last May, 14 months ago, it removed its director from the board and wrote off its shareholding. How can you tell us seriously that it is the ultimate controller of this company?”

“The concept is broader than legal ownership, as you know. It includes anyone who can exert significant influence over strategic decisions. As per the High Court ruling and that judgment, it is very clear that class A bondholders are meeting that level. Do you agree?”