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Lord Lemos (Lab)

Speaking in the House of Lords on 3 September 2026

Debate

Opt-out Collective Court Actions and Connected Litigation Funding

Contribution

That is why we think light-touch regulation is important here. Transparency is important for consumers in these situations. I see the noble Baroness smile. I know the phrase “light touch” receives a hollow laugh—I used to be a financial services regulator myself. The Government do feel that there is a need to get this on to a proper regulatory footing. I can say a lot more about this; I promise not to be boring. I suspect a lot of the questions I am going to be asked are about urgency and getting on with it. As well as what I have said about finding the appropriate legislative vehicle, I will go back to Minister Sackman to have a discussion about this. As the noble Baroness knows, I have had rather a busy week. It is above my pay grade to give a commitment, but I will press the case. If I get anywhere, I will buy the noble Lord, Lord Carlile, a cup of tea, and if he likes the answer, he can buy me a glass of champagne.

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