Baroness Evans of Bowes Park (Con)

My Lords, I will speak briefly to this group, which includes Amendment 15, to which I have added my name. As I said in Committee, the Government have been very vocal in their demands for existing regulators to institute cultural change within their organisations to help deliver economic growth, rather than excessively focusing on risk. In January, the Chancellor said: “Every regulator, no matter what sector, has a part to play by tearing down the regulatory barriers that hold back growth. I want to see this mission woven into the very fabric of our regulators through a cultural shift from excessively focusing on risk to helping drive growth”. That is a call I strongly support. Regulators have a significant influence over the economy, and it is only right that they take into account the need for growth in their actions and decisions. It was a significant oversight not to include such a commitment to ensuring the continued growth of football, one of our most successful sectors, from the outset in the remit of the new regulator. I would therefore like to thank the Minister for listening to the points raised on this issue and coming forward with the government amendment that obliges the regulator to have regard to the desirability of exercising its functions in a way that avoids any adverse effects on the financial growth of English football. It is an extremely welcome change to the Bill and an important addition to the IFR’s duties. I thank the Minister.