The whole House will accept that my hon. Friend is rightly arguing for total transparency. There ought to be open-book accounting by these managing agents, so that those who are paying can see what is happening.
Does my hon. Friend agree that the amalgamation of managing agents is a dangerous trend? It means that the choice is reducing, not increasing. Given that some managing agents are very large and people’s experience of them is not very good, we ought to try to make sure that there is not this continual amalgamation and that there is a good choice of good managing agents that want to earn a better reputation.