M

Member

Speaking in the House of Lords on 9 September 2026

Debate

Financial Services and Markets Bill [HL]

Contribution

These measures are five long years overdue, as the noble Baroness, Lady Hayman, has said, and the prevarication must end, especially now that the EU has agreed its deforestation regulations. They will be implemented on 30 December 2026—this year—and will apply to Northern Ireland. We on the mainland will be operating under different rules. That is an untenable position. The Government’s announcement in June this year that they will consult and deliver legislation to align next year is not really good enough. We do not know when and we do not know what it will say. Businesses such as the UK Cocoa Coalition, whose members include Sainsbury’s, Waitrose, Ferrero, Hershey and other very big organisations, are calling for certainty to plan investment and growth: a clearer timetable for the UK’s forest risk commodities regime would avoid further uncertainty for both businesses and investors. Companies are already making decisions about supply chain management, traceability systems and compliance processes in response to the EUDR and other international requirements. Clarity on the UK’s timelines and next steps would support investment, facilitate preparation and provide confidence that the UK is moving towards a coherent and predictable regulatory framework.

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