Critical Benchmarks (References and Administrators’ Liability) Bill [Lords] (Allocation of Time)

John Glen Excerpts

Thursday 18th November 2021 Commons Chamber

[The Economic Secretary to the Treasury (John Glen)]

I am grateful to the hon. Member for Glenrothes (Peter Grant) for the points he has made, and I recognise the relatively unusual procedure being adopted here. He was present during the passage of the Financial Services Act 2021. Indeed, he contacted my office last week for a briefing prior to this Bill, which I made available to him and Opposition Front Benchers earlier this week. I hope that, in the course of the Second Reading debate and the Committee of the whole House this afternoon, we will indeed give full scrutiny to these matters. They relate to some concerns that arose following the passage of the Financial Services Act earlier this year. As my right hon. Friend the Leader of the House mentioned in response to a question on the business statement a few moments ago, the lack of amendments suggests that this is an uncontroversial matter. However, I am confident that there will be an opportunity to fully scrutinise the provisions of this small and technical Bill through a Committee of the whole House. I do not believe that we are in any way forestalling the appropriate and necessary level of scrutiny for a very technical matter consequential on an Act of a few months ago.

Question put and agreed to.