Speeches by Glen.

“Five years ago, at Mansion House, the Chancellor at the time, Rishi Sunak, said that we would be “watching closely the key debates in finance and tech, like the opportunities of distributed ledger technology in capital markets”. Last Wednesday, Reuters published an article, “Nasdaq receives SEC nod for trading in token…”

“Huw, did you want to add something?”

“They were best in class.”

“If they were excluded from the process, as some of our colleagues in the House would want, what would that mean for the FCA?”

“About 20% of Palantir’s employees are in the UK anyway, are they not? They have a significant presence. It is not like we are outsourcing it to California.”

“Palantir provokes strong reactions for a variety of reasons. We do not need to get into that, but what we do need to understand, probably, is why they win these contracts. They have won, so they were the best that was out there in the market. Some say that we should prioritise other providers on principle because Palan…”

“A few weeks ago, Lord Jim O’Neill suggested that the changes in national insurance and the national living wage were perhaps causing employers to think about the value of additional labour capacity, and there were potentially some signs that it was addressing the productivity challenge we faced. Have any of you reflect…”

“Professor Pill, the Monetary Policy Report’s analysis says that 40% of UK workers are employed using bargaining firms that pay collectively and react more slowly to inflation, so you have a situation where a significant portion of the workforce are people who are keeping the expectation higher. You said you draw differ…”

“Quickly on that, we both know that it is us and the US. They are our major competitor—maybe Singapore also, but that is on a different scale. Of course we are going to be ahead of all the other jurisdictions, but what we are really talking about here is how we keep London competitive against the US and New York. Would …”

“Do you have any assurances around where members of staff and data centres would be based vis-à-vis this proof of concept?”

“A couple of weeks ago we had the permanent secretary to the Treasury come in and reflect on the leak inquiry. It would be fair to characterise his response as saying, “Well, we tried hard, we did not quite get to it, but we are going to have closed loops going forward in the preparation of Budgets, and we need to be cl…”

“In the panel’s report last year, it had two specific proposals to align to international best practice: first, that you should publish the cost-benefit analysis of alternative policy options to show why the proposed option was chosen; and secondly, that you publish all proposed policy interventions, whether rules or gu…”

“Salisbury has benefited enormously from investment in the river park scheme, which has alleviated flood risk to the centre of the city. My attention now turns to the villages, the role that farmers and agricultural land can play in effective flood defence, and the consequential impact on food supply. How does the Minis…”

“All I would say is that the Chancellor made a speech yesterday where she spoke a lot about AI and the importance to the Government’s growth initiative. Everyone would understand the point that you have just made, but there is a point about AI taking you to that narrow point where humans intervene to improve the efficie…”

“I want to try to get to the heart of this issue of what will be perceived as a trade-off between things that industry will welcome, because they are more efficient, and consumers will fear because their protections are less. I see that there is a quote from Simon Morris from CMS in the FT today, where he says, “The omb…”

“Would you accept at this point, Mr Dipple-Johnstone, that that is the received wisdom of many financial services firms and law firms representing people? They see a decision from the FOS and they think, “We know where this is going to go”. This has caused a lot of frustration.”

“Can I just follow up on AI? Some would say that AI should be used to make decisions and that it could be more accurate than human decision-making. You were very careful to say, “AI does not make decisions”, but can you see a world where that would be appropriate, given the way that technology is improving and the fact …”

“That is your view. That is not the received wisdom in the marketplace, is it?”

“I just want you to zone in on this trade-off point because the Government have not made these changes because they want it to remain as it is. In the end, there is a trade-off. I get that you do not want to create a headline today that there is going to be a trade-off, but there must be. We are trying to get to the bot…”

“I have no doubts about your professionalism personally, but if this question about openness and transparency results in individuals not being able to get their case looked at, that is of little comfort—they are not going to be comforted by that assertion. Are you saying that the broad needs of the consumer, as up to th…”