Bank Resolution (Recapitalisation) Bill [Lords]

Debate between Gareth Snell and Emma Reynolds

Report stage
Thursday 24th April 2025 Commons Chamber

[Gareth Snell (Stoke-on-Trent Central) (Lab/Co-op)]

Will the Minister give way?

[Emma Reynolds]

I am afraid I am being urged to wrap up. I remind Members that the Bill is fundamentally about protecting the taxpayer—

[Gareth Snell]

We have Third Reading—it’s fine.

[Emma Reynolds]

We have not come to that yet; my hon. Friend can intervene on Third Reading. [Laughter.]

Taking what I was saying into account, although the Government appreciate the point raised by the sector and by the shadow Minister, we do not believe it is necessary to hardwire in legislation a requirement to update the code of practice on this matter. I understand, however, that the mutual sector feels strongly about this issue, and my officials and I will continue to engage with the sector on it. I commend to the House our position on the new clauses and amendments, which is to resist them.