Speeches by Glen.

“Professor Pill, the Monetary Policy Report’s analysis says that 40% of UK workers are employed using bargaining firms that pay collectively and react more slowly to inflation, so you have a situation where a significant portion of the workforce are people who are keeping the expectation higher. You said you draw differ…”

“Just on that quickly, you have been Private Secretary to Prime Ministers. You have been the chief executive of the London Stock Exchange. You are now five or six years into being the chief executive of our financial regulator. How do we fix that? You have diagnosed the problem: it is the speed of getting legislation th…”

“Professor Taylor, do you want to comment? Do you have a different view?”

“Huw, did you want to add something?”

“Palantir provokes strong reactions for a variety of reasons. We do not need to get into that, but what we do need to understand, probably, is why they win these contracts. They have won, so they were the best that was out there in the market. Some say that we should prioritise other providers on principle because Palan…”

“In the panel’s report last year, it had two specific proposals to align to international best practice: first, that you should publish the cost-benefit analysis of alternative policy options to show why the proposed option was chosen; and secondly, that you publish all proposed policy interventions, whether rules or gu…”

“Five years ago, at Mansion House, the Chancellor at the time, Rishi Sunak, said that we would be “watching closely the key debates in finance and tech, like the opportunities of distributed ledger technology in capital markets”. Last Wednesday, Reuters published an article, “Nasdaq receives SEC nod for trading in token…”

“Quickly on that, we both know that it is us and the US. They are our major competitor—maybe Singapore also, but that is on a different scale. Of course we are going to be ahead of all the other jurisdictions, but what we are really talking about here is how we keep London competitive against the US and New York. Would …”

“As the Minister years ago, I remember meeting up with OPBAS. I think there were 20 regulators underneath them. You are going to move from having 16,000 to 76,000, so we are told. There is quite a big family of interests here. You could have a public school that has to take payment for school fees from a Russian oligarc…”

“I welcome the targeted nature of these measures, but three weeks ago it looked like inflation was going to return to the level that the right hon. Lady inherited when she took office in July 2024. That is no longer going to happen, but we are now seeing it the cost of borrowing. Given that we are spending well over £10…”

“You would recognise that there are risks and there are areas of very low risk as well. There is a real wisdom in zoning in on areas of vulnerability to minimise the overall burden.”

“A couple of weeks ago we had the permanent secretary to the Treasury come in and reflect on the leak inquiry. It would be fair to characterise his response as saying, “Well, we tried hard, we did not quite get to it, but we are going to have closed loops going forward in the preparation of Budgets, and we need to be cl…”

“Salisbury has benefited enormously from investment in the river park scheme, which has alleviated flood risk to the centre of the city. My attention now turns to the villages, the role that farmers and agricultural land can play in effective flood defence, and the consequential impact on food supply. How does the Minis…”

“All I would say is that the Chancellor made a speech yesterday where she spoke a lot about AI and the importance to the Government’s growth initiative. Everyone would understand the point that you have just made, but there is a point about AI taking you to that narrow point where humans intervene to improve the efficie…”

“I want to try to get to the heart of this issue of what will be perceived as a trade-off between things that industry will welcome, because they are more efficient, and consumers will fear because their protections are less. I see that there is a quote from Simon Morris from CMS in the FT today, where he says, “The omb…”

“Can I just follow up on AI? Some would say that AI should be used to make decisions and that it could be more accurate than human decision-making. You were very careful to say, “AI does not make decisions”, but can you see a world where that would be appropriate, given the way that technology is improving and the fact …”

“Would you accept at this point, Mr Dipple-Johnstone, that that is the received wisdom of many financial services firms and law firms representing people? They see a decision from the FOS and they think, “We know where this is going to go”. This has caused a lot of frustration.”

“Consumer organisations would perhaps say that, if poorly evidenced claims are made, that might say something about the individual’s circumstances and capacity to make a claim. How would you avoid the most vulnerable in society being essentially frozen out from making a legitimate claim from a position of less awareness…”

“I have no doubts about your professionalism personally, but if this question about openness and transparency results in individuals not being able to get their case looked at, that is of little comfort—they are not going to be comforted by that assertion. Are you saying that the broad needs of the consumer, as up to th…”

“That is your view. That is not the received wisdom in the marketplace, is it?”