As I said at the beginning of my remarks, the purpose of this Bill is to ensure that ATOL remains fit for purpose. The hon. Gentleman is right that the way people travel, the means by which they book their holidays, and the organisations they use to do so are changing. That is why we must look again at ATOL: not because it has not worked or because its principles are not right, but because it needs to reflect those changes. This Bill is the first step in doing so. Anticipating—although not impertinently—what the shadow Secretary of State might ask me, it is also true to say that this Bill is just that: a first step that creates a framework that will allow us to update ATOL.
Further steps will be required, which might come through regulation or further review of the appropriateness of what we are putting into place today. The hon. Gentleman raised that point when we debated these matters briefly before, and I have no doubt that he will want to press me on it again today, but there is an absolute acknowledgement that this is a rapidly moving marketplace that will require rapidity in our response.