Thank you for the compliment, Madam Deputy Speaker; it is not often that Deputy Speakers say that to me.
Let me respond briefly to my hon. Friend the Member for Islington North by referring him to page 930 of “Erskine May”, which cites the assessment of the Speaker in 1895 of the London Valuation and Assessment Bill. The Speaker then ruled that
“since the Bill raised questions of public policy of great importance and affected interests of vast magnitude, it ought to have been introduced as a public bill, and could not proceed as a private bill”.
I do not know what greater magnitude of risk there is to London, London taxpayers, the Greater London assembly and others than the risk that we are contemplating in this Bill. I do not want to go over the facts and figures we set out before, but I must say to the sponsor of the Bill, the hon. Member for Harrow East, that the Mayor could potentially enter into an enormous escapade if this legislation is passed. For that reason, I do not believe that it warrants support as part of a private Bill.
Let me return to the link between amendment 1 and amendment 15. Amendment 15 simply seeks to delete clause 4, as I believe that it is dangerous. I was trying to get clarification about the objectives of the clause from the statements—
8.11 pm
Three hours having elapsed since the start of proceedings on consideration, the business was interrupted (Order, 10 March).
Bill to be further considered on Tuesday 24 March.