Agenda item

Report of the Remembrancer.

The Sub-Committee considered a report of The City Remembrancer which updated Members on the main elements of the Parliamentary Team’s previous and planned activity in support of the City of London Corporation’s political and parliamentary engagement since the last formal update to the Sub-Committee on 6 September 2023.

An Officer stated that Members had been sent an email outlining the bills that were announced in the King’s speech and which bills had been introduced and had started the parliamentary process.

The Chairman congratulated the new Remembrancer on his position.

A Member, referring to the Financial Services and Markets Bill, asked about the appointment of the new City Minister and his position on setting up a House of Lords committee to hold the regulators to account on their competition and growth objectives. An Officer stated that the City Minister was a founding member and chair of the parliamentary Regulatory Reform Group which had previously made similar suggestions. He had received the Vision for Economic Growth paper and a meeting on this was due to take place. Due to his appointment, the meeting had been delayed but would be rescheduled.

A Member asked for an update on the City of London (Markets) Bill in relation to Havering Borough Council and the opposed bill. An Officer stated that committee stage had not been scheduled and discussions with Havering were ongoing. More detailed information could be provided in non-public session.

A Member queried the Pensions Reform Bill not being included in the report. The Deputy Chairman, as Policy Chairman, stated that there was no pensions bill announced in the King’s speech. It was considered by the Chancellor of the Exchequer that matters could be dealt with by regulatory measures rather than through primary legislation and more detail would be set out in the Chancellor’s autumn statement.

RESOLVED, That the report be noted.