Speeches by Reynolds.

“I have a bit more time then. My hon. Friend the Member for York Outer talked about access to finance for defence companies with regard to bank accounts. That is a commercial decision. He also mentioned access to credit, loans and cash flow, where we know defence SMEs often face challenges. We want to work across the Go…”

“It is a great pleasure to serve under your chairmanship, Sir Edward. I congratulate my hon. Friend the Member for York Outer (Mr Charters) on securing this debate. I also thank the Chair of the Defence Committee, my hon. Friend the Member for Slough (Mr Dhesi), and the hon. Member for Strangford (Jim Shannon) for their…”

“It is always a pleasure to serve under your chairmanship, Mrs Cummins. I thank the hon. Members for Wyre Forest (Mark Garnier) and for Wokingham (Clive Jones) for their amendments and their constructive engagement throughout the Bill’s passage. The Bill will ensure that the Bank of England remains equipped with the nec…”

“The hon. Gentleman draws me on something that is not pertinent to the amendments, but I understand why he has asked the question. When a bank fails, there is a hierarchy of creditors. I can write to him with that hierarchy, as I do not have it in my head at the moment. The hierarchy ensures that if, for example, the ba…”

“We have not come to that yet; my hon. Friend can intervene on Third Reading. [Laughter.] Taking what I was saying into account, although the Government appreciate the point raised by the sector and by the shadow Minister, we do not believe it is necessary to hardwire in legislation a requirement to update the code of p…”

“I am afraid I am being urged to wrap up. I remind Members that the Bill is fundamentally about protecting the taxpayer—”

“Perhaps my hon. Friend and I could have a discussion outside the Chamber so that I can better understand his question. The mechanism in the Bill is about what happens when the resolution regime is triggered. Four different conditions have to be met for that to happen. The Bill seeks to continue the work that the Opposi…”

“I beg to move, That the Bill be now read the Third time. We can hopefully do Third Reading in a more relaxed fashion. As we have discussed through the Bill’s passage, the Bank Resolution (Recapitalisation) Bill will strengthen the UK’s bank resolution regime by providing the Bank of England with a more flexible toolkit…”

“I have read some of the evidence to your Committee and I have correspondence about the charge, but we have to have some rules. Inevitably, there will be some hard edges. Laura, I do not know whether you want to say anything more about that.”

“As we announced in the spring statement, we are looking at a reform of ISAs in the round to drive better returns for savers and support the Government’s mission to drive greater economic growth and lift people’s living standards. I am not going to be making any announcements before the Committee. Your inquiry into the …”

“We will be looking at the advantages and perhaps downsides of all the different ISAs in the round alongside our primary objective, as a Government, to improve people’s living standards through better economic growth. As we said in the spring statement, we are looking at striking a better balance between cash and equiti…”

“All those choices are finely balanced, Mr Glen, as you will know from your significant stretch in my job. You were the longest serving, weren’t you?”

“There is a competition here! Those decisions are definitely above my pay grade. We are looking in the round at what to do on ISAs. We are very interested in boosting the culture of retail investment. Anything that we do will be very carefully considered. I just want to say to the Committee—I have said this on the Floor…”

“I know there has been some correspondence between the Chair and HMRC. HMRC has commissioned three reports. It brought forward the first report and published it yesterday in order to assist the Committee with your inquiry. Taking it from the top again, the inquiry that you are doing is very timely. The second study, whi…”

“I see what you mean. We do have the JISA to cover that segment of the market.”

“You are the first to mention it. I will have a think about that. I am not sure you would necessarily want to create an overlapping product with the junior ISA.”

“We will take that back.”

“That is very interesting. The second study will be very interesting. The first one is qualitative, as you have seen; the second is quantitative and surveys users of the LISA. The third one surveys non-users of the LISA. These will give us a lot more data, which will be rich in terms of what we can get from it, in a way…”

“We could have a meeting afterwards.”

“Yes, we do.”