Speeches by Grady.

“I am chair of the APPG on Qatar, which will be relevant to the second hearing of this session.”

“I thought I might be.”

“What about people’s phones? Will they have to safeguard their messages during market-sensitive periods so that they can be inspected?”

“Has that advice been followed to the very letter, or are there any elements of it that have been discounted?”

“I have just one follow-up question on the logic behind that. Obviously, corporation tax is taxed on profit, but are rates not taxed on turnover? There is a distinction between the two.”

“I have just a quick question. You said in the House that the Barnett consequentials from the changes announced for pubs would be set out in the usual way. Are you in a position to explain how all these reforms will affect the Barnett consequentials?”

“I have a tiny question, Mr Bowler. I concede that there are minor leaks, big leaks and things in between, but culturally, is it attractive to have a situation where even a small leak is not followed up at present? There is a new process, and you want to show everyone you are really serious about this, but you are not e…”

“So another hidden cost of Brexit is that we haven’t been able to undertake the legislative modernisation to get growth.”

“I think that is all we can pursue on that.”

“I have a couple of follow-up questions. Do you understand the mechanism by which this information was leaked? Was it electronically? Was it in person?”

“I could take a picture on my phone and WhatsApp it to a journalist, couldn’t I? Will people have to keep their messages during market-sensitive periods?”

“One last question. Evidently, you have been looking at this closely, but we have identified some concerns that there may still be gaps. Have you consulted with experts in the MOD about the safeguarding of confidential information?”

“That would suggest that in the Treasury, or in the pool of people who had access to this information, there are evidential gaps that meant you were unable to trace how it was leaked—so people deleted messages, did not keep a proper diary of what they were up to or whatever.”

“As the Payment Systems Regulator, you mentioned earlier, Mr Geale, the 50-50 split between the paying and receiving bank. Has the Payment Systems Regulator considered or would you consider something along the lines of a split of one third, one third and one third? Might that lead to such an incentive? At the moment, th…”

“Would it be possible to get data on that?”

“Presumably the FCA, the PSR and other people write to social media companies and say, “Could you take this account down? This account is fraudulent.” How long does it take them to respond?”

“Your position is that they could do more to prevent this. What would you like to see them do?”

“On social media companies and social media, what proportion of these scams are conducted using social media?”

“You mentioned lobbying earlier. We are discussing lobbying. Has there been any recent lobbying on keeping it at £85,000 as opposed to moving it up to £120,000 so that it is consistent?”

“You cannot really say anything about those at that stage. I will not press you on that, Mr Geale. Have firms got better at detecting and preventing APP fraud?”