B

Baroness Neville-Rolfe (Con)

Speaking in the House of Lords on 9 September 2026

Debate

Financial Services and Markets Bill [HL]

Contribution

My Lords, Amendment 98 would remove Clause 50, thus returning us to the broad principle that we raised in our discussions on Clause 3, which led to a majority of 81 in a vote on its deletion. Clause 50 will allow the Treasury to amend or repeal primary legislation without introducing another Bill, which is another Henry VIII power. We need clarity from the Minister about how the Government envisage the power will be used. Our concern is that it goes further than technical housekeeping, as the text of the clause gives Ministers a broad and potentially permanent power to amend or repeal primary legislation, including devolved legislation, without the full scrutiny afforded to a Bill. I am grateful for the support of the noble Baroness, Lady Bowles. In the absence of a satisfactory reply, I am minded to test the opinion of the House.

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