Financial Services Bill

My Lords, I wish to ask the Minister a question, and perhaps I should declare an interest as I am regulated by the FSA. My question arises from the speech of the noble Lord, Lord Newby, and relates to a matter that causes me some little concern. Although they may have changed, I understood that the conventions in the run-up to a general election—this certainly applied in my day—were that Ministers did not take decisions that would have an impact on a future Government and that looking to make major policy or expenditure decisions was discouraged. I also thought the convention was that people do not commit public resources and public money to policy changes before those changes have been approved by Parliament and received Royal Assent, whether or not a general election is imminent. I am very concerned to hear that people could be committing resources and making changes within the FSA in advance of this legislation reaching the statute book, particularly when it is perfectly obvious, as the noble Lord, Lord Barnett, has said, that it will not reach the statute book in its present form. It deals with an issue of great concern in our country, and one on which there is a great division of opinion between the parties. I believe that the electorate will pass the baton to my party, which will wish to take this forward. Why are we wasting taxpayers’ money and resources? What are Ministers doing? Should the Minister not recognise the situation as it is and talk to the opposition parties with a view to getting a Bill which will meet those conventions and criteria?