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Lord Vaux of Harrowden (CB)

Speaking in the House of Lords on 15 October 2025

Debate

Public Authorities (Fraud, Error and Recovery) Bill

Contribution

My Lords, I am generally supportive of all the amendments in this group, but particularly Amendments 17 and 22. This Bill, and particularly this part of it, impose a range of onerous obligations on the banks and other financial institutions that are affected by it and that have to respond to information notices and so on. But nowhere does the Bill provide for how the costs that arise from those obligations should be dealt with, or for how to ensure that they are proportionate. Amendments 17 and 22 simply add an important level of review and transparency, which would allow us to ensure that the costs being imposed on those institutions are reasonable and proportionate. The very fact of the requirement to prepare impact assessments and to review the costs of compliance should of itself ensure that these costs are kept at the forefront of the Government’s mind when using these powers. I therefore hope that the noble Baroness will accept Amendments 17 and 22. On Amendment 26, I absolutely support the concept. I am just slightly confused as to whether it is not already covered by Clause 65, but I support the principle.
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