Speeches by Malthouse.

“If I may ask a practical question and then a question related to reputation, you said that you were basically different from what people use your AI for. In a defence environment, for example, would it be possible for a Government to use your AI applied to data about individuals to target particular ones for attack?”

“It is just license and support.”

“Other than the direct money that the NHS pays you on invoice for the production of servers, there is no further revenue stream that emanates from NHS activity.”

“So the Palantir system is not error reporting and performance reporting through to headquarters, wherever your headquarters is in the States.”

“I congratulate the hon. Member for Tamworth (Sarah Edwards) on her speech. I am afraid, however, that you, Madam Deputy Speaker, will have to forgive me for puncturing the air of bonhomie and positivity about the Bill, because I am really not content with it. Frankly, I feel it is my duty as an Opposition Back Bencher …”

“But I have paid into that scheme.”

“That may well be true, but that is a different question. There is a question about financial education and the ability of large numbers of our fellow citizens to understand these financial complexities. We have a large and professional independent financial adviser community, and all pension funds are required to have …”

“As I said, the evidence about performance across the population of funds is mixed. Some smaller funds do extremely well, because they have strong governance and a focused and nimble investment strategy. Some megafunds do reasonably well, because they can spread their risk across a variety of asset classes, but it is no…”

“I have already given way to the Minister. He said that the Bill contained an opt-out for pension funds, but that is not strictly accurate. It does not create an opt-out for trustees; it creates an opportunity for them to request the ability to opt out from the regulator, with whom the discretion to opt out lies. It als…”

“Yes, I have. I paid contributions through my employment at City Hall, as did my employer. Admittedly, it was a scheme based on a defined benefit, rather than a defined contribution, but that was the deal done with me on a settled contract, saying that this was what I would be provided for from my contribution. Every ye…”

“On a point of order, Madam Deputy Speaker. Along with 6.5 million fellow members, I am a member of the local government pension scheme, through my proud membership of the London Pensions Fund Authority. We are uniquely affected by the Pension Schemes Bill, which we are about to contemplate. I am therefore concerned tha…”

“I do not dispute the fact that there are too many small funds that are suboptimal; my question is whether it should be the Government who correct that. If, for example, I am a member of a small suboptimal pension fund and the Government, through the Bill, consolidate it with another pension fund, and it turns out that …”

“I understand where the hon. Lady is coming from. She is keen on Government intervention in our pensions, but does she recognise that that represents a fairly significant transfer of investment risk, and that the Government should underwrite that risk in all fairness to pensioners, who may lose money as a result?”

“The hon. Gentleman is making a good point, but does he accept that illiquid investments, by their very nature, tend to be more volatile, and that from a risk-adjusted point of view they therefore represent much higher risk for investors? He mentioned investment in life sciences companies; he will be aware of the collap…”

“My hon. Friend is making a strong speech and some strong points. Does he agree that the alarm bells he is ringing about financial education, the under-provision of pensions and longevity are even more stark and alarming next to the demographic change that means that over the next 30 years, we will see the number of wor…”

“I want to be clear—so that the House is clear—about the opt-out to which both Ministers have referred. Is it a correct interpretation to say that it is not an opt-out at the discretion of the trustees of the fund, and that the Bill requires them to apply to the regulator with evidence for the regulator to make a decisi…”

“As I am sure you, Mr Speaker, and the Leader of the House know, the number of children who have been killed in the war on Gaza now runs into the many thousands. Similar numbers of children have been mutilated and injured, and a large number of them require specialist medical treatment. As I hope she knows, countries ac…”

“I want to add to the hon. Gentleman’s list something that the Government could do. In the main Chamber we are busy proscribing two Russian supremacist organisations. Does he think it would be appropriate for the Government to proscribe settler organisations who, as President Biden said, are perpetrating terrorism upon …”

“As I hope the Minister knows, I have devoted much of my adult life to keeping individuals, neighbourhoods, towns, cities and indeed the entire country safe, but I have to confess that I have never been entirely comfortable with the deprivation of citizenship regime. Unfortunately, his Bill, which he is trying to pass o…”

“The Minister keeps referring to a loophole in justice. I do not understand why he cannot see that “innocent until proven guilty” should apply in these cases, as in any other. The idea that my winning an appeal would not automatically mean I was innocent, as it does in every other case, seems a breach of a fundamental t…”