Speeches by Baldwin.

“Can you name one unintended consequence?”

“Do you agree with the Chancellor that there have been unintended consequences? I would argue that sounds more like an intended consequence.”

“I want to get back to the subject du jour, which is growth and the Chancellor’s speech. There was something very striking that you said right at the beginning, Governor, about the way in which growth in this country has been at a slower pace since the financial crisis, as if you were pinning some of the blame not only …”

“Dame Colette, unintended consequences is what I am after.”

“People will be aware of my obsession with the advice guidance boundary as well, in terms of the potential unintended consequences that has had. The previous Chancellor had set out a range of reforms in Edinburgh, which were under way at the time of the election. I just wondered if the committee has a view on where we h…”

“We heard about the change in terms of some of the mood music from across the pond on cryptocurrency. There has been a very, very clear steer from recently inaugurated President Trump that they are not going to have a central bank digital currency, but it is still something that the UK is developing a blueprint for. I j…”

“Recently we have had a lot of volatility in NVIDIA share prices and therefore, through artificial intelligence, we have seen some structural instability. I wondered, both directly through the stock market movements and indirectly through the impact of artificial intelligence generally on the financial markets, whether …”

“I did not mean to imply that.”

“All this could amplify instability.”

“Whose law is that?”

“I am sure the Chief Secretary knows and admires the plan for growth of Conservative-led Worcestershire county council. It has been working through the plan, and it has built a new train station on the North Cotswold line, which connects Worcestershire to Oxford, but a lot of that line is still single track. Will he urg…”

“Thank you. We have heard one unintended consequence.”

“I am not hearing a very wholehearted agreement with what the Chancellor said in her Mansion House speech, which was that she felt that the reforms to the financial regulation post crisis, which included establishing this committee, have resulted in a system that sought to eliminate risk taking. I am not hearing a lot o…”

“Congratulations on your appointment. The thing that shocked me the most last week was that there are school dinners that the children of parents who fled domestic abuse are unable to purchase with cash. I am just laying that out there, because that really shocked me to learn. I am going to change the subject to interna…”

“Have you looked at the Australian draft legislation, the proposals in Australia? Of the ones we have looked at, that probably seems the most sweeping.”

“You have looked at them in detail and you do keep track of these developments. I wondered if I might just turn to another international issue, because it has been widely reported, Minister, about your new role, the role that you had before being re‑elected and the stance that you took in terms of China. I just w…”

“That is the same position as you had in your previous ministerial role.”

“But were you recused from more things in your previous role as Pensions Minister, or is it identical to your new role?”

“Okay, so it is exactly the same issues you might be recused on in this role as in your previous role.”

“Thank you. That is very clear. Turning to another international issue that I know is very relevant to the inquiry on acceptance of cash is the FCA statistic that 7 million UK consumers have bought a cryptocurrency or Bitcoin, and the acceptance of those. Clearly, we have a change in the US, which has become much more p…”