M

Member

Speaking in the House of Lords on 22 June 2026

Debate

Financial Services and Markets Bill [HL]

Contribution

In my view, what the Government must not do is obtain the power first and decide what to do afterwards. That would be constitutionally outrageous. I therefore ask the Minister: why do the Government require powers of this breadth before the policy is settled? Why can they not return to Parliament once the consultation has concluded with a new Bill that both Houses can examine properly? What limits will apply to these powers, and what meaningful opportunity will Parliament have to scrutinise their use? We need a good answer on these questions and the others that the forensic noble Lord, Lord Vaux, set out. This is a very serious matter, and I will be listening carefully to the response from the Minister. I strongly urge him to reconsider his approach, which risks entrenching a deeply damaging precedent to parliamentary oversight and will prove unpopular in this Committee.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

Partner sites