Water Industry (Financial Assistance) Bill

I am grateful to colleagues who have contributed, from both upstream and downstream. Both banks of the Thames have been represented, which is a good thing. I should probably have started by declaring two interests. I chair the Mayor of London's Thames festival, which has a regular interest in ensuring that we celebrate our Thames, and I am a patron of the London Wildlife Trust, which has done lots of work on the Thames. I am also a supporter of Thames21, which has been applauded by Members on both sides of the House and has done fantastic work, as have other environmental bodies. I join the Minister in celebrating the fact that another country's sovereign wealth fund is interested in investing. That is a good thing. The announcement of the Chinese investment interest in the past few weeks was very welcome and I share his view. I shall be brief and shall just pick up on the comments that have been made. The Minister has been very courteous and recognised that I was seeking to put on the agenda items that I and my constituents think that the Government ought to bear in mind as they take the Bill forward. I accept entirely that the Bill, as drafted, has a subsection to proposed new section 154B that allows the terms and conditions for any financial assistance to be inserted by the Secretary of State. The debate we are about to have, which will be initiated by the hon. Member for Luton South (Gavin Shuker) on behalf of the official Opposition, is a sort of halfway house. The proposal is that we do not get into the detail but that we have a mechanism—