Diolch, Dirprwy Lywydd. I move the motion that the Senedd agrees the UK Parliament should consider the provisions in clause 34 of the UK Government's Financial Services Bill. Clause 34 of the Bill makes provisions that relate to personal debt management, designed to help people in problem debt to repay what they owe to their creditors in a managed way. Consent is required because these provisions fall within the legislative competence of the Senedd. It is my opinion that the provisions should be made by the UK Parliament as this represents the most appropriate and proportionate legislative vehicle to enable the drafting of the regulations that will allow the statutory debt repayment plan to apply in Wales.

I'd like to thank the two Senedd committees who have scrutinised the memorandum. Both committees reported they were satisfied the Bill does make provision for a purpose within the competence of the Senedd, with the Economy, Infrastructure and Skills Committee concluding that there is no reason to object to the Senedd agreeing to a legislative consent motion.

The statutory debt repayment plan is the second part of the debt respite scheme, and I led the debate last November when the Senedd approved the regulations for the first part of the debt respite scheme, breathing space, to apply in Wales. Breathing space will give a person the time they need to get professional advice to identify their best pathway out of debt, and, when introduced, the statutory debt repayment plan will offer people a debt solution that will help them to repay what they owe to their creditors in a manageable time frame when they exit breathing space. For the duration of their statutory debt repayment plan, a person will receive legal protections from their creditors taking enforcement action or adding interest charges and fees to their debt. And given the length of time that a statutory debt repayment plan may last, it would be designed to be flexible so it can respond to the changing circumstances that people face during the period they're paying their debts off under the plan.

Officials will work closely with the UK Government policy makers to ensure the statutory debt repayment plan regulations align with the specific needs of people in Wales, and the regulations will be laid before the Senedd for approval. So, given the financial problems that we know people are facing because of COVID-19, those deepening inequalities, the vital role of our advice services, the single advice fund, which has been boosted this year, it is disappointing that the UK Government hasn't set a specific date to implement the statutory debt repayment scheme. So, in moving this motion, I am urging the UK Government to make the regulations in the coming months and implement the statutory debt repayment plan as soon as practical thereafter. Diolch.