I thank the noble Lord for his kind words; he might be getting a little ahead of himself. It has been a pleasure to serve as Minister and I hope to continue to do so. I look
forward to campaigning in defence of the arts and creative industries in the general election ahead. He will appreciate that I have been in the Chamber since the announcement was made, so I will have to disappoint him by saying that the discussions will be had in the usual channels and announcements will be made in the usual way.
Like other noble Lords, I was sorry to hear about the operation that the noble Lord, Lord McNally, is having. I am sure we all wish him a speedy recovery, so that he can be on the campaign trail soon. His amendment, spoken to by the noble Lord, Lord Lipsey, seeks to remove Clause 50 in its entirety. I refer noble Lords to the comments I made earlier on why the Government do not believe that an incentive to join a PRP-backed regulator is needed. The failure to repeal Section 40 in its entirety would be at odds with the Government’s manifesto commitment. For this reason, it is important that this clause stands part of the Bill.