Speeches by Baldwin.

“We did not hear anything from the Minister to reassure the Committee on the fundamental points that we have been making throughout the debate. The Bill gives unfettered powers to the Secretary of State, and it is openly acknowledged, both in the Bill and in the impact assessment, that the powers could be used to dynami…”

“For the same reasons that we opposed clause 3 on enforcement, we would like to divide the Committee on clause 6. Question put, That the clause stand part of the Bill.”

“We have not tabled any amendments to clause 7. My earlier point about the vague wording of “relevant authority” also applies to this clause, but the Minister has set out why information sharing under these provisions is necessary. We can see the rationale for that, so we do not intend to oppose or seek to amend the cla…”

“Again, I think we are in relevant authority territory here. We are talking about imposing fees in respect of any costs, and there are certainly some issues to note for the record. On the collection and recovery of payments, I spoke strongly earlier about fines and the interest payable on outstanding payments and so on.…”

“I seek your guidance, Sir John, as there were a number of amendments that pertained to clause 2 in the first few groupings on which the Committee could divide. Should we do that now?”

“I beg to move amendment 10, in clause 10, page 10, line 24, leave out subsection (2). This amendment would prevent regulations under this Act from amending provisions made by primary legislation.”

“We tabled our amendments to clauses 1 and 2 because we can see both what the Secretary of State intends and the purpose of the huge powers he is taking under clause 1. Amendment 3 seeks to remove clause 1(2), which states: “The Secretary of State…in relation to the marketing or use of products in the United Kingdom” ca…”

“On a point of order, Ms Vaz. I seek clarification: are not the remaining amendments in the group to clause 12?”

“What a welcome moment, Ms Vaz—my colleague from the Liberal Democrats, the hon. Member for Chippenham, supports the rationale behind the amendments. The swelling in support for our amendments gives me a welcome opportunity to test the opinion of the Committee on each of them. Question put, That the amendment be made.”

“Clause 3 deals with the enforcement provisions of the Bill. Clause 1 grants sweeping powers to the Secretary of State, and clause 2 defines the types of requirement there may be on products. Clearly, the regulations that the Secretary of State has so much freedom to enact will need to be enforced, but the wording of cl…”

“Clause 9 is one of the clauses that their lordships were particularly concerned about, because of its sweeping Henry VIII powers. Although I have not tabled any amendments to it, I reiterate the point that I made about relevant authorities, and I think it is only right that we test the Committee’s opinion on the clause…”

“I think the Committee may well return to some of these themes at a later stage of our deliberations. Clause 13 concerns the UK internal market, which is an important topic that deserves considerable further scrutiny and debate. Clauses 14 and 15 essentially clarify when the commencement will be for the various clauses.…”

“It is appropriate for me to put on the record how grateful we are for the scrutiny that the Bill received in the other place. We have just heard from the Minister how many changes had to be made because of the concerns raised by the Committee in the other place, which I have quoted extensively in today’s debates. We ha…”

“The hon. Lady puts some extremely important and valuable questions to the Committee. I look forward to hearing the Minister’s reply.”

“I am grateful that the Minister is as confused as I am by this; I thought it was just the lateness in the day. Perhaps the Minister would be good enough to write to me to point out where the erroneous “9” exists.”

“If I may very quickly, Chair, a question for Jana and your members. We have heard in the past from policymakers about their concerns of the quantum apocalypse when quantum computing is used to unencrypt everything and causes a massive systemic risk to the financial system. Do your members believe that artificial intell…”

“We should not have to worry about it at all, then?”

“Anything to add, Mr Luther?”

“Can anyone else elaborate on anything they have heard of in this area where artificial intelligence actually helps our constituents make wiser financial decisions?”

“Are any of your members planning to do that now that the regulator is looking at innovation in this area?”