Draft Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 3) Regulations 2019

Robert Syms Excerpts

Monday 9th September 2019 General Committees

[Sir Robert Syms (Poole) (Con)]

I have sat on many of these Committees. It is not unusual to have civil servants come forward because minor mistakes have been made, and the normal procedure in this type of Committee is to put them right, rather than to reject and vote against the instrument. The Treasury civil servants have done a really good job in difficult circumstances to onshore these regulations. They have used the opportunity of the extension, which I was against, to go back through the regulations to see whether they could be improved further. What we have today is the civil service acting in a sensible manner to see whether it can get things as right as possible.

It is highly irresponsible to vote against the instrument today. We may well end up with no deal at the end of October. I was under the impression that the financial services industry in Edinburgh is quite important to the Scottish economy, so I am surprised that the hon. Member for Glasgow Central is happy to vote against, leaving defective regulations in place. I support what the Government are doing. I think it is perfectly sensible, and I commend the Minister’s statement.