In view of the time, I know the Conservatives have put forward a whole package of amendments related to the consumer-driven banking framework. I'm glad to see they're supportive of a regime that we're intending to stand up.
Consumer-driven banking enables consumers to securely use data-driven financial services that can help them better manage their finances and improve their financial outcomes. For example, through consumer-driven banking, people could access services that allow them to build their credit by reporting their on-time rental payments to credit bureaus, thereby making it easier to qualify for a mortgage, which is something we've proposed in our housing strategy.
However, the amendments proposed by the Conservatives are, in some cases, unnecessary and, in others, damaging to the framework we're bringing forward. For example, this amendment attempts to include small businesses in the framework, despite the fact that the bill already notes that “consumers”, for the purposes of the bill, includes small businesses.
For that reason, we're opposed to the whole package.