My Lords, this has been a good debate on an important group of amendments. We are not all agreed, but most of us are doubtful about the decision to allocate the office for the internal market to the CMA in the way the Bill proposes. I favour an office with ministerial leadership—there is a parallel with the EU’s single market commissioner, which has worked well in many ways.
The noble Baroness, Lady Bowles, made an expert and very strong case from a different perspective. She rightly pointed to the huge powers and penalties involved in giving this role to the CMA, and explained useful
background as to why it ended up in the CMA, linked to an earlier time when state aid rules were going to be part of the portfolio. She also highlighted a concern about how the arrangements will work for the devolved Administrations, which the noble Lord, Lord Palmer of Childs Hill, developed in more detail and which was referred to by the noble Baroness, Lady Hayter.
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My noble friend Lady Noakes, in an intervention full of wisdom and experience, underlined the lack of consultation, the time that tends to be taken by the CMA to decide things and the risk of it being a jack of all trades and master of none as its responsibilities and staffing grow following EU exit. My noble friend Lord Naseby reminded us of the impact of double regulation in the financial services sector, and favoured a self-standing office for the internal market. The noble Baroness, Lady Hayter, does not want the office to be lost in the CMA either, although she wants it to be independent of BEIS. The commissioner dealt with 28 member states satisfactorily, and they always used to fight for their own independence if I recall correctly.
I am grateful to the Minister for his summing up. He rightly emphasised the international reputation of the CMA, a point I would certainly concede, but that does not mean it is the right body for this task. In any event, there has not been a proper consultation and no published assessment of the pros and cons, which the Minister kindly referred to when he looked at the options. So, I look forward to reflecting further on any letters the Minister is kind enough to write to us and perhaps to further discussion across the House.
We want to get this right: it is a very important matter. We have had some answers on how the details of this quite complicated Bill will work, which I will certainly study, but I give notice that I am likely to return to this issue on Report. I beg leave to withdraw my amendment.