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Banking Bill (Money)

I am grateful to my hon. Friend for raising that useful point. I will not attempt to clarify it, but I hope that the Minister will do so. We retain a sense of uneasiness about clause 75, but the Minister is right that there is a need for some flexibility, which is perhaps why we are not using more intemperate language or getting more excited. However, we feel uneasy about these Henry VIII clauses, and it is important to put that on record. It is also right to put on record our uneasiness about the potential for retrospective legislation. Given that the Government have passed quite a few such items of legislation during the handful of years that I have been in this place, it is good to hear them acknowledge that retrospective legislation is undesirable. Measures such as those covering air passenger duty and vehicle excise duty have been retrospective to a greater or lesser degree, which has been unfortunate, so if the Government are now giving an indication that they are less likely to pursue retrospective legislation in future, that is even more welcome.