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Financial Services Bill

My Lords, I did not intend to say that the body was executive. We flogged that one to death on the first day of Committee when we found out that this is just a talking shop. Everybody knows that this is just a talking shop. This is another case of the Government being in fantasy land. They have invented the Council for Financial Stability—which is a way of dressing up some failed arrangements. They have elaborately put Clauses 1 to 4 in this Bill. They have people attending it; they have created a secretariat, minutes of two kinds of meetings, schedules and all kinds of things like that. They have a little bit of transparency, because they will tell us what is in some kinds of meetings, but not what are in other kinds of meetings. The more we hear about the Council for Financial Stability, the more it has no real meaning. If something is as flawed as this, it is clearly very difficult to improve it. We will carry on trying to improve it, but perhaps not with this amendment. I beg leave to withdraw the amendment. Amendment 19 withdrawn. Amendment 20 not moved. Debate on whether Clause 2 should stand part of the Bill.