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Banking Bill

My Lords, I do not think there is a great distance between us and the Opposition on these issues. That is why, if the noble Lord will forgive me, I have a battery of notes that will demolish his amendment in technical terms. That may readily be done, and I do not have the slightest doubt that it would be done with the greatest accuracy. However, I do not think that that would address his argument. I am not in conflict with the noble Lord’s objective. As explained in Committee, the Government have considerable sympathy with the spirit behind the amendment, which is about transparency and accountability to Parliament and the public at large. However, the expectation that the authorities will comply or explain is clearly built into all the crucial parts of the code. The default expectation must be that the authorities will follow the code. After all, it is established by primary legislation. It is explicitly stated in the Bill that the authorities are legally obliged to have regard to the code. If the authorities took any action that deviated significantly from the code, it goes without saying that a public explanation would normally be needed; indeed, it would without doubt be demanded by this House and the other place. I do not think that it is necessary to remind Parliament of its obligation to hold the Government to account in primary legislation. That is why all who serve in Parliament do so, unless they are serving in Government. The expectation is that the code will make the authorities accountable. If they should in any way, shape or form resile from that obligation, they will be challenged in Parliament. That expectation is bound to be automatic. I therefore hope that the noble Lord will accept that his amendment has provoked an interesting debate, as it did in Committee, but that he can safely withdraw it.