New Clause 17 - Reporting requirements

Part of Financial Services and Markets Bill – in the House of Commons at 2:30 pm on 7 December 2022.

Alert me about debates like this

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury 2:30, 7 December 2022

My right hon. Friend is just one of many colleagues—many in the Chamber today, but also my hon. Friends the Members for Newton Abbot (Anne Marie Morris) and for Don Valley (Nick Fletcher)—who have made precisely this point. It is the Government’s expectation that the industry-led initiative must deliver. As I will come on to clarify, the powers we are taking in the Bill—we are not mandating them, because we do not support the amendment from Siobhain McDonagh—give us the flexibility in future, by means of a direction statement to the industry, to mandate free cash machines.