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Dormant Bank and Building Society Accounts Bill [HL]

The Minister said that he had negotiated these expenditure objectives with those who were passing the money. My understanding is that the British Bankers’ Association has said, in terms, that it has no views whatever on what the money is spent on, and that the decision on the way in which the money is to be spent has come entirely from the Government. I would not like the Minister to leave the Committee with a misunderstanding as to where these objectives have come from. The Bill might refer to financial inclusion but, as far as I am aware, the British Bankers’ Association is completely agnostic as to how the money is to be spent. It regards Part 1 of the Bill as relating to itself and Part 2 as relating entirely to the Government, which is why this is rather more like public money than private money.