The explanation that the noble Lord has given in relation to the clause is not altogether satisfactory because—if I have a better understanding now—he thinks that costs have somehow gone down with online campaigning and that this is less costly than producing leaflets. As he well knows, £10,000 is not a great deal of money, in terms of campaign expenditure—it is simply not.
But what concerns me about the Minister’s response is that, actually, this new lower tier will especially force all campaigners to monitor their costs and will create a chilling effect, as we have warned throughout the Bill. The result will be that organisations that want to have, and should express, a voice will be reluctant to do so if it impacts in terms of their statutory requirements. I heard what the noble Lord said, but we oppose the clause.