Member

We recognise the concerns about competition and saver protection. Any change to the definition of “small” must go through the affirmative procedure. As the noble Baroness acknowledged, the Secretary of State would be legally required to consult, which is in the Bill, with additional requirements to publish the rationale for any proposed change and to consider any representations made. With this in mind and the explanations I have given, I hope the noble Viscount will feel able to withdraw his amendment.