Lords Grand Committee
29 June 2026
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Chamber House of Lords
00:06 - 00:21
Speaker 1
Good afternoon, my Lords. If there is a division in the chamber while we're sitting, this committee will adjourn as soon as the division bell rings and resume after 10 minutes. This is the Grand Committee on Financial Services and Markets Bill.
00:21 - 01:20
Speaker 2
My Lords, before we start the debate on the first group, I remind the committee of the rules on declaring interests. Noble Lords should declare any relevant financial interest the first time they speak at each stage of a bill. This means that in committee, relevant financial interests should be declared during the first group on which a noble Lord speaks. Thereafter, the declaration does not need to be repeated on debate on later groups at this stage. Declaration should be specific and brief.
Members should briefly indicate the nature of their financial interest and not simply refer to their entry in the register of Lords' interests. I also want to remind noble Lords of guidance in the companion at paragraph 8.82 that when withdrawing amendments, noble Lords should be brief and need not respond to all the points made during the debate. Clause 17, amendment 80, Baroness Northover.
01:20 - 02:10
Speaker 3
My Lords, I'm moving amendment 80 and speaking to amendment 103, and my name is also on amendment 140, and I've no doubt that the noble lady Baroness Hayman will expertly present that, and I also support the other amendments in this group. We have of course experienced the most extraordinary heatwave last week, made so much more intense because our climate has already changed, and now it's anticipated we'll never return to pre-industrial levels. And yet we've gone backwards on climate change and climate risk in this bill. The government may say it hasn't, and that it wants to ensure that the regulators are flexible in how they can tackle this challenge. But clause 17 strips out all sorts of accountability arrangements in a number of areas.
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