Speeches by Baldwin.

“Can the panel clarify what the amount would be for a couple with three children?”

“So the IFS would agree that for a couple with two children the number we are talking about is about £2,500 a month.”

“That is about £2,200 a month, or a bit more than that, so about £25,000 a year. This is after housing and after tax for a couple with two children?”

“Dr Cribb, there will be a lot of people listening who perhaps are not aware of where the poverty line is currently drawn for a family with two children and for a family with three children. Could we have some IFS-style facts on where the poverty line is today for a couple with two children, after housing?”

“This is very interesting. When you started your evidence, Mr Jung, you made a statement—a very sweeping statement, I thought—that gambling is a social harm. But the more evidence we have heard from the panel this morning, the more we have heard of what I observe as an MP for West Worcestershire, near Worcester racecour…”

“It is just scaremongering. That is your assertion.”

“Thank you. My takeaway from your panel this morning, which has been very informative, is that there is a subset you are particularly concerned about that is causing social harm, but it is not the wider sector. I am happy with the evidence on that.”

“Are you saying that there would be no change in employment or physical premises in this sector if these changes were to be made?”

“The shadow Chancellor is making a powerful speech. Is he aware that recently in the Treasury Committee we were given evidence by a range of tax specialists, all of whom endorsed abolishing stamp duty?”

“She has talked about “a boot on the neck” of business.”

“So you disagree with the Chancellor?”

“Were they overly risk averse before?”

“That has changed.”

“The Chancellor has made extensive remarks on how UK regulation has become overly risk averse. Can you point to any examples where you think that the Financial Policy Committee has been overly risk averse?”

“Are you an advocate of the Bank of England bringing in a central bank digital currency?”

“Bringing to bear your expertise with quant, and your judgment from your experience to date, if we look at the stress tests run by the Bank to analyse where the potential risks might be, can you give us some commentary on whether you think it has been running the right sort of stress tests? Do you think there are stress…”

“Would you advocate for a particular stress test that has not been done yet or looked at?”

“As a potential to disintermediate a lot of the systemically important members of the financial system?”

“Do you think it poses any kind of risk to the financial system? In the past, we have been told it is not systemically important.”

“We have asked some of the members of the FPC in the past about the potential risks of quantum apocalypse in the financial sector. I am afraid that, so far, we have mainly heard that it is not something they have particular expertise in, so it is good that you know people who can perhaps bring some of that lens to bear …”