Baroness Brady (Con)

My Lords, I refer the House to my interests as declared in the register. I begin by welcoming the positive engagement that many of us have had with Ministers and the department since Committee. It is clear that the Government have been listening and are responding thoughtfully to a number of concerns raised by noble Lords from all sides of the House. I thank the Minister and the Bill team sincerely for their collaborative approach. Most importantly, I believe the ongoing dialogue we have established will result in a more effective Bill, which of course is our job here in this place. I rise to strongly welcome Amendment 14, the Government’s proposed inclusion of a new duty on the IFR to avoid the adverse impacts on growth. This reflects the balanced and proportionate approach many noble Lords have advocated throughout this process, and which I know the Government genuinely intend. This is a very positive development. The new duty should help to ensure the regulator does take such a balanced approach in practice. Its inclusion is an acknowledgement that, to ensure that English football remains financially sustainable, we must not inadvertently constrain the game’s ability to continue to grow and succeed. This is an important way to frame the approach of the regulator from the very beginning, but I hope it will also have specific practical benefits. For example, the new duty should help to prevent the IFR adopting an overly risk-averse or restrictive approach to financial regulation which could otherwise limit football clubs’ ability to invest and innovate. It should also serve as a significant check on any regulatory decision around the flow of Premier League funding, ensuring that determinations on financial distributions remain balanced and proportionate, and avoiding unintended harm to the commercial strength and international competitiveness of the league. In short, this growth duty does offer some meaningful reassurances to football clubs that the regulator will approach its task constructively, supporting the long-term success and dynamism of the whole game and helping us to navigate the challenges of the future, not just fix the issues of the past. I am very grateful to the Minister. There is more to do, and we will talk about a number of further proposals throughout Report, but I am happy to offer my support for this amendment. I believe a growth duty is a meaningful and substantial step forward in this legislation.