Speeches by Grady.

“Moving on to market-based finance, Mr Kroszner, in your appointment hearing in January 2023, you told this Committee that “the data is just not there” on private credit and market-based finance for the non-bank sector. Do you think the system-wide exploratory scenario is answering that data question, so that we better …”

“To follow up on that, you mentioned that this has allowed more debt to be issued and that the market is more fragile. We have debt to GDP of about 100%. Does that give you any concerns about the Government being able to borrow in sufficient volumes, should they wish to, and the price of that borrowing? Do you think tha…”

“Governor, you mentioned legal responsibility for agentic models. I am a recovering lawyer. Is the Bank and do you think we are clear about who is responsible if, for instance, financial institution A uses an agentic model and it starts cheating and lying, as you describe it? Perhaps you could answer briefly because I d…”

“It would be useful to come back to us in writing on that important point.”

“Mr Blyth, I want to ask you two exam questions, which I might be copying from the Governor. First, does everyone properly understand the interconnections between private credit and other parts of the system? Secondly, do the people who own it understand the characteristics of the things they own? With the progress made…”

“Is there anyone on the market side who has not participated in this but you would have liked to have participated?”

“Governor, I suspect that you will want to add something anyway, but given the growth in private markets compared with the banking sector over the last, say, 20 years, do you think we are all giving enough weight to this sector, as opposed to having long conversations—rightly so; this is not a criticism of Mr Glen—about…”

“The Roma have suffered centuries of prejudice and hate. Under the Nazis, they were subjected to concentration camps and genocide. Roma people have made their home in my constituency and in Northern Ireland, and should be treated with decency, yet they have been subjected to terrible racist violence in Northern Ireland.…”

“Mr Pollard, the DIP obviously makes several bets on uncrewed and autonomous technology, citing the lessons from Ukraine, but witnesses we have had before us warn of over-learning lessons from Ukraine and assuming that autonomy fixes everything. Briefly, are you confident that the Ministry of Defence has got the balance…”

“7. What discussions he has had with the Northern Ireland Executive on recent disorder in Northern Ireland.”

“Q4. The Family C official report, about the most depraved sexual abuse of children, identifies serious failures by Glasgow city council and other bodies. The report says that one child victim “banged on the windows shouting at the health visitor not to leave”,but this was treated as “streetwise”, instead of a desperate…”

“That is helpful, Mr Pollard. Time is marching on. The exam question that we are all facing here is, can we defend the United Kingdom? Can you reassure me that the decision to significantly shift emphasis in this way was driven by that exam question and not financial considerations?”

“Businesses trading with unlawful settlements can be under no illusion that the settlements are unlawful and that the majority of Members of this House view them as utterly morally repugnant. Nor can they be under any illusion that the UK Government’s position is that people should not trade with unlawful settlements. I…”

“3. What steps she is taking to keep children safe online.”

“People across Glasgow East welcome the proposed ban on social media for under-16s. I thank the Secretary of State and the Minister for AI and Online Safety for their excellent work, which means that young people across Glasgow and Scotland will be much safer. However, kids will get round the ban and young people aged 1…”

“There are no additional risks from one to the other to public health.”

“On that, you are correct, Mr Townsend, and it is called piercing the corporate veil. Is there a need to review company law to enable the corporate veil to be pierced to a civil standard on a more frequent basis, so that those behind these entities are held personally liable for the tax?”

“Briefly, to your wildfire point, is there a need for a much stricter remedy for accountants who advise snail farms and things like that, so some sort of interim order that would stop them from advising them to do that?”

“Ms Cheeseman, tobacco itself is a high-risk product, self-evidently. Where would I look for reliable evidence as to any additional health risks arising from illegal tobacco?”

“The RSF have slaughtered children and used rape as a weapon of war. As we return to our constituencies, we should reflect on how we would act if this were happening in them—to our mothers, our sisters, our partners and our children. The UN Security Council says that there will be no impunity for those committing war cr…”