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Financial Services Bill

I am sorry that I did not comment directly on the point that the noble Lord raised. That was possibly because I recoiled in horror when he suggested that the council’s minutes should be like Cabinet minutes, as that would be counter to the concept of how the council is to be reported. The views of the Treasury and the Chancellor will be clear from the council’s minute. It will be quite clear what the participants have said. There is not much between us either on the point that the noble Baroness emphasised as necessary, as if there was some kind of malign Treasury initiative to airbrush the discussion. That is not so. There is, simply, an enormous difference between a verbatim report—I hope that she is not actually canvassing that—and a report that accurately reflects and gives to the outside world a clear picture of how the participants conducted themselves at the meeting, without going to quite the point that the noble Baroness has stressed. I therefore hope that she will withdraw the amendment.