Speeches by Reynolds.

“This is a whole-of-Government approach, and we have secured 60 commitments from key regulators to improving the business environment. The Government are streamlining regulation and stripping back its duplication, to ultimately deliver a regulatory system that encourages new investment, innovation and growth.”

“My hon. Friend is a fantastic campaigner for the breweries in his constituency. We want the drinks sector to go from strength to strength. We are reviewing the responses to the consultation on the threshold that my hon. Friend mentioned.”

“That sounds like a criticism of the previous Government. I can reassure the hon. Gentleman that we are committed to innovation and to DIGIT.”

“The Government are committed to supporting people to save and invest, and we want to build a better investment culture. Currently, 85% of people with savings income do not pay tax on it. As we announced at the Budget from next month, we will expand the help to save scheme to all universal credit claimants in work.”

“I think that premium bonds do provide excitement, not least in my parents’ household, where they are very popular. They are already well promoted and popular, and we have seen annual investments in premium bonds increase by more than 50% since March 2019. The funds raised through them go towards supporting vital public…”

“I could not agree with one of my predecessors more. The right hon. Gentleman is absolutely correct. It is a great scheme and now that we are expanding it, we will take that opportunity to promote it better.”

“Cash savings provide a vital source of savings for a rainy day, and we recognise that. Equally, we want to build a better investment culture in our society, so that it is not just the 8% of people who can afford financial advice who can have the opportunity of better rewards by investing in British companies and others…”

“We are committed to promoting savings and investment, as I said in an earlier answer. One measure we are looking at is the Financial Conduct Authority’s review of the advice guidance boundary. As I said in a previous answer, I do not want it just to be the 8% of people who can afford financial advice who reap the rewar…”

“I am happy to meet the hon. Lady and look at the case she mentions, because I need to get more detail.”

“Harlow is home to one of the UK’s largest supercomputers. We are taking forward the AI action plan and we also have the tech adoption review, which will look at how we can unlock the potential of AI in our high-growth sectors.”

“I will briefly speak to clauses 6, 7 and 8, which cover the more technical aspects of the Bill. Clause 6 makes amendments to the Financial Services and Markets Act 2000. It ensures that, where the FSCS makes a recapitalisation payment to the Bank of England, its ability to levy the banking sector is extended to cover s…”

“Clauses 2, 3 and 5 relate to the reporting and accountability requirements on the Bank of England when it uses the recapitalisation mechanism. The Government added these clauses to the Bill in the other place, reflecting the understandable concerns raised about how the Bank of England will be held to account when using…”

“It is a pleasure to serve under your chairmanship for the first time, but I am sure not the last, Ms Jardine. Government amendment 1 ensures that the Bank of England will have the flexibility to use the mechanism provided in this Bill in a broad range of circumstances. It does that by removing the provision added in th…”

“As we have already discussed in considering Government amendment 1, as well as amendments 3 and 4, clauses 1 and 4 introduce the recapitalisation payment mechanism that is the core of the Bill. Clause 1 inserts a proposed new section into the Financial Services and Markets Act 2000, which will allow the Bank of England…”

“Growth and competitiveness are fundamental priorities for this Government. Financial and economic stability are essential for growth and lie at the heart of the Bill. Risks to financial stability arising from bank failures, and the disruption they cause to continuity of critical services, can be seriously detrimental t…”

“Growth and competitiveness—”

“I think we will get on to the amendment on growth and competitiveness in the next stage of line-by-line consideration of the Bill. Question put, That the amendment be made.”

“I thought that was what the shadow Minister was saying, but it is good to get some clarification. I think I am not the only one who was a little confused. As I said in my opening remarks, we do not support the amendment that the hon. Member for Wokingham tabled, but I understand the intent behind it and the concern tha…”

“Coming on to the amendment, I am a little bit confused by the shadow Minister, because he rightly says—I agree with him about this—that it would not have been possible to use a negative SI, for example, during the weekend when everything was happening with Silicon Valley Bank. The Government at the time and the Bank of…”

“I thank the hon. Members for Wyre Forest and for Dorking and Horley for their contributions. Let me turn to the last point made by the hon. Member for Dorking and Horley and the first made by the hon. Member for Wyre Forest, the shadow Minister: the Government continue to have confidence in the regime for managing the …”