Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008

My Lords, it is a pleasure and a relief to see the Minister again on a subject so straightforward as the Housing and Regeneration Act 2008 (Consequential Provisions) Order, which consists of amendments to other legislation already on the statute book that are the natural consequences of the passing of that Act. To that extent, this is not particularly controversial. I am also grateful for her update on progress in the establishment of the Homes and Communities Agency and the housing regulator. It is good to know that that programme is going well, and the fact that it is likely to be completed ahead of the original schedule is a matter of satisfaction to everyone who has been involved. The questions that derive from the information I have received relate to the Minister’s summing-up of the changing circumstances in which the whole construction industry finds itself. Behind the regulation a cost-benefit analysis was done, which we have all received. I wonder if the Government have had any opportunity to review those figures in the light of the very different economy in which we are now working and, if so, what their conclusions might be. I am bound to say that I had some difficulty here, but that may be because I do not understand the statistical background in resolving the actual figures that the cost-benefit analysis appeared to reveal. I would be grateful if the Minister could explain to me how that work was done, if that is not too technical a question, and tell me whether any attempt has been made to update those figures in the light of the changed circumstances. With regard to the content of the order, I have nothing to add to what the noble Baroness has said and I am grateful for her explanation.