My Lords, it is a pleasure to follow my noble friend Lord Parkinson of Whitley Bay and to agree with everything that he said. I will build on his blank cheque, which was perfectly positioned phraseology. My Amendment 71 seeks to build on that in order to get the most from the moolah. If we are going to put financial assistance in place, as we do and will, it is only right and proper to make the most of that funding, to not restrict the funding and to not put issues around it that would make it less likely for us to win these major and mega sporting events. But we need to put in conditionality that will benefit the bid itself, the event and local communities and other organisations, not just at the event time but, if correctly put in place, for years and perhaps decades to come.

In no sense am I suggesting that the wording I have set out is exhaustive or covers all the issues at hand. I seek to demonstrate a sense of the threads of E, S and G running through this funding. It has to be right that local communities benefit directly from these events, because for mega events such as the Olympic Games and Paralympic Games, they put up with a lot: the bid process, the extensive build process, Games time and a significant deconstruct of all the overlay and temporary venues. They deserve, and must have, an upside during that process, at the event time and, indeed, post event. It is not just the sport that should benefit. The local community is hosting these events as well and must be included in the upside and benefits that come from that.

In my other proposed subsections, I quite rightly set out to put everything around pay gap reporting, minimum wage, procurement and supply chain in the Bill. There is so much positive impact that can be driven through the procurement and supply chain process. It is worth, at least at a principles-based level, having something in the Bill to send out the signals as to what kinds of events we want to stage in this nation: not to limit the bid, not to control and not to affect the flexibility that one needs when a governing body is bidding, but rather to enhance, sharpen and add to the bid, and to the Games and the championships experience, and to have a sense that the stadia, community, part of a city and part of our country can look forward, post Games and post event—not looking back at something that has happened in the past but taking things forward that would not have happened and would not be part of that local community were it not for the staging of that event or that Games.

It is right that we seek to get the maximum and think about what we want to say about the funding put into these events. Criteria and principles seem a perfectly acceptable way of doing this. I look forward to the Minister’s response.