Speeches by Blake.

“Can you suggest any particular remits that you think should be withdrawn? I share and am always interested in this critique of Government policy: things are always added and never taken away. The Committee is really interested to know whether there are specific remits that you would take away.”

“We have spent much of this session talking about the balance between risk and the impact on consumers. Earlier this year we saw the decrease in the maximum liability for repayments from £415,000 to £85,000. There was some discussion about what was driving that decision. Can you elaborate more on the trade-off between i…”

“Yes.”

“Can you elaborate on your final point about deterring financial crime and protecting against it? What might this do to the people trying to commit fraud?”

“What would that look like?”

“We have been talking a bit about resilience, and one of the vulnerabilities outlined by the FCA is about capability. Where do you think the real responsibility lies for tackling that vulnerability in capability, in terms of financial education and awareness?”

“And if it does not have that role, where do you think that responsibility should lie?”

“Can you suggest any particular remits that you think should be withdrawn? I share and am always interested in this critique of Government policy: things are always added and never taken away. The Committee is really interested to know whether there are specific remits that you would take away.”

“We have spent much of this session talking about the balance between risk and the impact on consumers. Earlier this year we saw the decrease in the maximum liability for repayments from £415,000 to £85,000. There was some discussion about what was driving that decision. Can you elaborate more on the trade-off between i…”

“Yes.”

“Can you elaborate on your final point about deterring financial crime and protecting against it? What might this do to the people trying to commit fraud?”

“What would that look like?”

“We have been talking a bit about resilience, and one of the vulnerabilities outlined by the FCA is about capability. Where do you think the real responsibility lies for tackling that vulnerability in capability, in terms of financial education and awareness?”

“And if it does not have that role, where do you think that responsibility should lie?”

“This has been driven by a sense that fintech companies would be disadvantaged by the £415,000. On the number of claims, you have alluded to 99% being covered by the £85,000. So how do you think that change will balance innovation and risk taking?”

“ You have talked about ramping up staff and training them in order to generate the additional income that you have anticipated. The additional income is really quite significant and, if this additional income does not materialise, we do get close to not meeting fiscal rules. Clearly, therefore,&#xa0…”

“ Are you able to say what kind of iterative correspondence you had with the OBR in terms of the confidence and risks around these estimates?”

“ So if those yields are not generated, will it be the fault of HMRC?”

“ Could you say which sector that is concentrated in?”

“ On the point of supplementing and potentially needing to supplement, how are you assessing whether the fees are enough to expose the extent of money laundering?”