Member

Such an approach would not be cost-free. Those costs may ultimately be borne by customers through higher charges, poorer rates or reduced investment elsewhere. It would also send a damaging signal to business that the Government are prepared to override commercial judgment without clearly establishing the need, calculating the cost or considering less burdensome alternatives. As we heard from the noble Lord, Lord Davies of Brixton, the noble Lord, Lord Sikka, even wants this to be done through a levy on banks. There is a public service element in many private services, yet we do not try to impose such levies on them.