M

Member

Speaking in the House of Lords on 22 June 2026

Debate

Financial Services and Markets Bill [HL]

Contribution

Constitutional safeguards exist because powers granted to government endure beyond the individuals who first exercise them, as I remember from some of the Bills I put through Parliament. Parliament should be told what problems the Government have identified and what policy they propose as a result of Mr Lloyd’s review—or, indeed, on a whim—as well as why powers are necessary, how they will be used and what safeguards will constrain them. The proper sequence is straightforward: complete the consultation, develop the policy, publish the evidence, then bring a defined proposal before Parliament if legislation is needed. The noble Lord, Lord Vaux, put it very well.

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