Member

Amendments 69 and 75, from the noble Baroness, Lady Altmann, would remove from the Bill the scale threshold of £25 billion and instead grant the Secretary of State the power to set it in regulations. I will not dwell on this, as she did not, but we discussed this at some length in Committee. The evidence for the threshold has been set out in our published impact assessment, and the figure has been consulted upon and discussed. It is a fundamental, central pillar of the policy, and it is right that we give certainty about this now, at the earliest point. It is by this metric that the industry is preparing for scale now.