Lucy Rigby

I am grateful to my right hon. Friend for his comments. We are approaching our reforms of the ringfence very carefully. A detailed review has been conducted. We have to ensure that where regulation exists, it is fit for purpose and fit for the circumstances of the modern age. I am more than happy to meet him and talk about the new growth allowance, for example, which will ensure that we can get more capital into the real economy, more homeowners on the ladder and more investment to businesses. The Bill will deliver a stronger economy to deliver opportunity, hope and prosperity in every corner of the country. I commend the Bill to the House. Question put and agreed to. Bill accordingly read a Second time. Financial Services and Markets Bill [Lords] (Programme) Motion made, and Question put forthwith (Standing Order No. 83A(7)), That the following provisions shall apply to the Financial Services and Markets Bill [Lords]: Committal (1) The Bill shall be committed to a Public Bill Committee. Proceedings in Public Bill Committee (2) Proceedings in the Public Bill Committee shall (so far as not previously concluded) be brought to a conclusion on Tuesday 15 December 2026. (3) The Public Bill Committee shall have leave to sit twice on the first day on which it meets. Consideration and Third Reading (4) Proceedings on Consideration shall (so far as not previously concluded) be brought to a conclusion one hour before the moment of interruption on the day on which those proceedings are commenced. (5) Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on that day. (6) Standing Order No. 83B (Programming committees) shall not apply to proceedings on Consideration and Third Reading. Other proceedings (7) Any other proceedings on the Bill may be programmed.—(Gregor Poynton.) Question agreed to. Financial Services and Markets Bill [Lords] (Money) King’s recommendation signified. Motion made, and Question put forthwith (Standing Order No. 52(1)(a)), That, for the purposes of any Act resulting from the Financial Services and Markets Bill [Lords], it is expedient to authorise the payment out of money provided by Parliament of: (a) any expenditure incurred under or by virtue of the Act by the Treasury, and (b) any increase attributable to the Act in the sums payable under any other Act out of money so provided.—(Gregor Poynton.) Question agreed to. Financial Services and Markets Bill [Lords] (Ways and Means) Motion made, and Question put forthwith (Standing Order No. 52(1)(a)), That, for the purposes of any Act resulting from the Financial Services and Markets Bill [Lords], it is expedient to authorise the charging of fees and charges under or by virtue of the Act.—(Gregor Poynton.) Question agreed to.