Viscount Younger of Leckie (Con)

My Lords, I will be pretty brief in closing. Across this group, the common theme is not opposition to the direction of travel—I give further reassurance to the Minister on this point and I appreciate her remarks—but a desire for clarity, proportionality and accountability as these powers are taken and exercised. I am very grateful for the support of the noble Baroness, Lady Altmann, and indeed for her extra questions on this group. The small pots regime will rely heavily on automatic processes, regulatory discretion and secondary legislation, which makes it especially important that Parliament understands how these measures will work in practice and where the guardrails sit. The amendments that we have brought forward are deliberately probing, as I said at the outset. They seek reassurance that members will be able to engage meaningfully with decisions that affect their savings, that Ministers will retain visibility and responsibility for how the system operates once it has gone live, and that the regulators’ powers, whether in relation to fees, enforcement or penalties, will be used in a way that is targeted, proportionate and subject to appropriate oversight. I respect the fact that the noble Baroness has given much time to addressing the amendments, and indeed those particular points, for which I am very grateful. It has been a short debate, and I hope a helpful one, and we will consider the responses given. But, for the moment I beg leave to withdraw my amendment.