Economic Growth (Regulatory Functions) (Amendment) Order 2024 - Motion to Approve (Continued)

Part of the debate – in the House of Lords at 7:15 pm on 15 April 2024.

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Photo of The Duke of Wellington The Duke of Wellington Crossbench 7:15, 15 April 2024

The Minister has many times referred to the wording in the draft statutory guidance refresh, which I assume can still be amended. Therefore, I ask the Minister to comment on page 26, which I quoted earlier, where it says that

“certain enforcement actions … can be particularly damaging to the growth. These include, for example … financial sanctions; and publicity”.

Surely the Minister would agree, in view of what he said, very persuasively, that those words should be looked at again. They certainly will inhibit a regulator from enforcing financial sanctions.