We debated this issue in Committee, so it may not surprise Opposition Members to hear that we have not changed our mind about it. Obviously, we keep an open mind, and after the Committee debate we re-examined extensively all our thinking on the matter but, funnily enough, we came to the same conclusion that we reached when the Bill was drawn up.

I understand the worries of organisations about Government-imposed costs, but we need to put the provision into perspective. For some of the largest banks, the estimated cost is £7.6 million—that is less than an hour's profit for one of them. There are some reasons for banks to co-operate with us regardless of whether they are reimbursed.

First, they need to demonstrate that they are good corporate citizens. That is certainly a good thing for them to do, given their profits and public image. Secondly, all companies benefit from operating in a well-regulated society, with the rule of law, where obligations are placed on organisations. I should have thought that, today of all days, it is important for us and the banks to make that point.

It is in everyone's interest as taxpayers—corporations pay taxes, as well as individuals—to take responsibility for ensuring that we minimise the chances of fraudsters being successful in their attempts to rip off the private sector or the public sector. We all have an interest in ensuring that loopholes are closed and that circumstances are created in which we can chase the fraudsters as effectively as possible.

We shall not ask for unreasonable amounts of data. I hope that we have reassured organisations that we will not make unreasonable demands. We shall seek to make our inquiries in such a way as to minimise their costs. We have given commitments that businesses will not be required to invest in special software, except in the extraction of bulk information on the utilities, where we shall meet the cost. They will not be required to obtain information especially to meet inquiries, or to store information differently or for longer than they do already.

I should like to reassure businesses that they need not fear the powers and to emphasise that it is right and proper for businesses that enjoy the advantages of trading in this country to help to defend taxpayers' money and to assist us in our fight against fraud, which may spill over from the public sector to the private sector.