It is a pleasure to serve under your chairmanship, Mr Hollobone—in the warmth of your chairmanship in this cool room this morning. I congratulate the hon. Member for Cardiff West on securing the debate and on his ongoing work in this field. The strengths of the UK music industry are a major part of our economy; it contributed £4 billion to our economy in 2021, with exports bringing £2.5 billion into the UK in 2021. A key challenge is to ensure songwriters and composers enjoy fair remuneration without undermining the sector. Since the DCMS Committee's inquiry last year, the IPO has established working groups on metadata and transparency which have made real progress. The CMA published its final report on music streaming; it found no suggestion that publishing revenues were being deliberately suppressed but noted an increase in overall share from 8% to 15%. I propose a roundtable with key voices across the sector to look at the rate of progress, the IP Office and CMA reports, and the AI piece to ensure fair remuneration. The Government's preference is not to legislate; instead, we prefer to encourage industry-led action but reserve our right to legislate if necessary.