Regulation of Financial Services (Land Transactions) Bill

Part of the debate – in a Public Bill Committee at 10:30 am on 5 July 2005.

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Photo of Ivan Lewis Ivan Lewis The Economic Secretary to the Treasury 10:30, 5 July 2005

I beg to move,

That—

(1) during proceedings on the Regulation of Financial Services (Land Transactions) Bill, in addition to its first meeting at 10.30 am on Tuesday 5th July, the Standing Committee shall meet—

(a) at 4.30 pm on Tuesday 5th July, and

(b) at 9.00 am and 2.00 pm on Thursday 7th July;

(2) the proceedings, so far as not previously concluded, shall be brought to a conclusion at 5.00 pm on Thursday 7th July;

(3) the Standing Committee recommends that the Programme Order of 23rd June 2005 relating to the Regulation of Financial Services (Land Transactions) Bill be varied as follows—

(a) paragraphs 4 and 5 shall be omitted; and

(b) proceedings on consideration and Third Reading shall (so far as not previously concluded) be brought to a conclusion three hours after commencement of proceedings on consideration.

I am delighted to have the opportunity of moving the resolution of the Programming Sub-Committee. I do not expect that it will take me half an hour to do so, or that it will take the hon. Member for Cities of London and Westminster (Mr. Field) half an hour to respond.

I welcome you to the Chair, Mr. Caton. I believe that this is the first Standing Committee that you have chaired. We shall look to you for guidance at all times, and we are sure that you will do an excellent and competent job.

I am delighted that the hon. Member for Cities of London and Westminster is leading for the Opposition. He has survived events of recent times. First, the hon. Member for Bury St. Edmunds (Mr. Ruffley) resigned during the Finance Bill. Having fulfilled his responsibilities as a Whip, he now wants to be responsible for somebody's leadership bid. We are now told that the hon. Member for Bexhill and Battle (Gregory Barker), who is a member of this Committee, has also resigned from his position as an Opposition Whip to run somebody else's leadership campaign. It makes one wonder whether, if the two hon. Members who are sitting behind the hon. Member for Cities of London and Westminster remain there for much longer, they may even become leadership candidates themselves.

I am also delighted to welcome the hon. Member for Richmond Park (Susan Kramer), who has sat   through hours and hours of proceedings on the Finance Bill. The record will show that the Liberal Democrats made a major contribution to the Bill, and I hope that the hon. Lady will continue that pattern this morning.