Lord Goddard of Stockport (LD)

On these Benches, we broadly support these measures. It is a pleasure to follow the noble Lord, Lord Moynihan of Chelsea, because he speaks his mind and I like that. There is no ambiguity in what he is trying to say; he just says it. That, to me, is refreshing. In supporting the amendments from the noble Lords, Lord Parkinson and Lord Markham, with respect, we do not need Erskine May or Burke. It should be common sense to us that the regulator must be accountable to Parliament. We are the heart of democracy and the social fabric of the country, and we are funding it. So, if there were an overwhelming reason why the Government did not want this, I would find it unfathomable; the regulator should be accountable. The noble Baroness, Lady Brady, was passionate in what she said, and I understand the pitfalls she can see coming, but this is really about regulation and accountability. That is the fine line that we draw. We are not overregulating but we need that accountability. I suppose it is about scope and the number of times we may be calling people, and which Select Committees can call them. I would suggest it should not be just any Select Committee; it should be pertinent to the business. The Government will ask that the amendments be withdrawn today, but could they commit that this will be somewhere in the Bill? Without an agreement that the regulator will be held to account by Parliament and will report to Parliament, this group of Peers—the small and happy band that we are—will be less than supportive of not supporting this, if that makes sense.