Financial Services Bill

I am trying to make more than one point here. One of my points is that there still needs to be more transparency in personal accounts. I have also said that so-called free banking could result in additional charges being made elsewhere, and that companies would respond to that. There are differences of opinion between banks on how charges should be structured, but there are also many similarities, as the hon. Member for South-East Cornwall has suggested. I was trying to make the point that we need to think through some of these proposals in more detail, particularly in regard to the action taken in the wake of the Supreme Court case. As I have said to my hon. Friend the Member for Edmonton, we see merit in a voluntary approach and, at the moment, we are persuaded that that is the best way in which to take these matters forward speedily. In Committee, he mentioned the proposals for a consumer rights directive that are being discussed in Europe. He will also be aware of the Government White Paper, "A Better Deal for Consumers", in which we said that we want to simplify and rationalise UK consumer rights legislation when implementing that directive. It will be a matter for the next Parliament, and whoever is in government, to look at this issue and decide the best way in which to navigate through it. We cannot wait for ever and a day for a voluntary approach to succeed, and we cannot wait too long if the consumer rights directive is not going to see the light of day for a considerable period of time, but it will be up to the next Parliament to make those decisions. I fundamentally believe that there is no significant difference between the political parties on this matter. We all want to see the consumer getting a fair deal, and, through these discussions, we need to find the most effective, practical way of delivering that. In the light of the reassurances that I have been able to give to my right hon. Friend the Member for Birkenhead and my hon. Friend the Member for Edmonton, I hope that my right hon. Friend will seek leave to withdraw his new clause. The Government are mindful of the points that they have made, and these are live issues that will continue to be discussed.