Speeches by Yang.

“I want to pick up on the point that you made about car parking. Car parking is an issue that comes up frequently on the doorstep in Earley and Woodley constituency. The Oracle shopping centre in the centre of Reading has a cashless car park, for example. I was wondering whether you or anyone on the panel has had these …”

“Just to be clear, to Mr Wright, in those cases, if they were to happen in the next year or so, is your preference that there would be an attitude from the Government and regulators that some people had fallen victim to those problems?”

“It is fair to say that this panel has some differences in view from the previous panel of industry representatives. How well matched do you feel in lobbying power and getting the ear of the regulator, compared with those industry lobbyists?”

“To get into the particular example of the lowering of the limit for authorised push payment refunds for consumers—for those who have transferred money to fraudsters, essentially—that has now been taken down to about a fifth of what it was, with the limit now £85,000. Does anyone want to comment on that process?”

“You talk about this idea of reckless prudence. I understand that there has been a concern expressed by many panellists that we have now ratcheted up the amount of regulation. How would you say that the Government could avoid a business cycle of regulation where, once we start to remove that regulation, more risk is bor…”

“On the broader point about how the industry affects lobbying, do you see any difference in the way that the Government—you mentioned politicians, Ms Concha—and, on the other hand, regulators listen to consumer concerns?”

“In the way politicians and the Government respond to, for example, constituents or consumer concerns expressed by groups like yours, versus the way that the FCA and other regulators deal with those concerns. Do you see much of a difference in those two areas?”

“On the broader point about how the industry affects lobbying, do you see any difference in the way that the Government—you mentioned politicians, Ms Concha—and, on the other hand, regulators listen to consumer concerns?”

“In the way politicians and the Government respond to, for example, constituents or consumer concerns expressed by groups like yours, versus the way that the FCA and other regulators deal with those concerns. Do you see much of a difference in those two areas?”

“To get into the particular example of the lowering of the limit for authorised push payment refunds for consumers—for those who have transferred money to fraudsters, essentially—that has now been taken down to about a fifth of what it was, with the limit now £85,000. Does anyone want to comment on that process?”

“It is fair to say that this panel has some differences in view from the previous panel of industry representatives. How well matched do you feel in lobbying power and getting the ear of the regulator, compared with those industry lobbyists?”

“Just to be clear, to Mr Wright, in those cases, if they were to happen in the next year or so, is your preference that there would be an attitude from the Government and regulators that some people had fallen victim to those problems?”

“Mr Wright, you spoke previously of the constant change in regulatory priorities over the last decade. How confident are you after hearing the Chancellor’s and other Ministers’ speeches on this topic that there will be more stability for the industry over the next 10 years?”

“You talk about this idea of reckless prudence. I understand that there has been a concern expressed by many panellists that we have now ratcheted up the amount of regulation. How would you say that the Government could avoid a business cycle of regulation where, once we start to remove that regulation, more risk is bor…”

“Mr Wright, you spoke previously of the constant change in regulatory priorities over the last decade. How confident are you after hearing the Chancellor’s and other Ministers’ speeches on this topic that there will be more stability for the industry over the next 10 years?”

“ Another 5,000?”

“ Sir Jim, just to follow on from those questions, you mentioned the really high rate of return from your compliance staff, and my colleague has just mentioned the line containing 5,000 additional compliance staff in this Budget. Could one simply keep on going? Would even more staff continue that high rate of retur…”

“ Have we reached that point?”

“ Thank you.”

“ I have some questions about data collection and policy development in HMRC. The first is on the Taxes Management Act 1970, which was passed, of course, over 50 years ago. What have been the major changes in the tax policy environment since then, and what do you think are the largest shortcomings of that legislati…”