I am grateful to my hon. Friend and neighbour for his question. I shall come on to that in a minute, but we have had exhaustive and extensive discussions with the ABI to ensure that the statement of principles is succeeded by a new regime, on which I shall elaborate in a few minutes.
The main focus of the Bill is reform of the water industry. Reform will provide more choice for non-household customers and bring new entrants into the market. It will use the power of competition to drive efficiency, innovation and benefits to the environment.