Education Bill

On the question of reputational risk versus the power of a fine, does my hon. Friend accept that the two are not necessarily alternatives? Being fined or, in an extreme case, being given the highest fine the regulator can give will itself contribute to the costs of reputational risk, so the two can reinforce each other. Reputational risk appears to have been an insufficient deterrent hitherto. Otherwise, we would not have had the extent of problems we saw this summer.