"The Minister referred to the four workstreams that the Chancellor set up last year. Can he say when firms might feel any difference?..." Baroness Noakes - View Speech
"My Lords, I have added my name to my noble friend Lord Bridges of Headley’s amendments creating OFRA. I also support the amendment from the noble Baroness, Lady Bowles, which would use a panel to look at how the regulators are performing. The key thing is that we need more …..." Baroness Noakes - View Speech
"My Lords, I thank the Minister for his reply, but I do not think that it dealt comprehensively with the nature of the problem. I do not think that any of our amendments deal comprehensively with the nature of the problem, actually, because the answer is not loading on extra …..." Baroness Noakes - View Speech
"My Lords, I thank the noble Lord, Lord Vaux, for adding his name. Unfortunately, he is not able to be in Committee today. The amendments in this group concern cost benefit panels, which were created by the 2023 Act to underpin the existing FSMA requirement for cost-benefit analysis to be …..." Baroness Noakes - View Speech
"Can the Minister explain what the FCA and the PRA are doing about cumulative burden? Are they focusing on the cumulative burdens of the rules that they have assessed using a cost-benefit analysis, or is it for all of their activities? It is my understanding that they are both pretty …..." Baroness Noakes - View Speech
"We are a self-regulating House, and this is such an important area that I would like to hear the end of the noble Baroness’s remarks...." Baroness Noakes - View Speech
"The Minister made great play of the importance of proportionality, on which I think there would be considerable agreement. The Bill removes the requirements to have regard to the regulatory principles, including, importantly, the proportionality paragraphs, for anything other than the five-year plan. It is therefore incumbent on the Government …..." Baroness Noakes - View Speech