Proceeding contribution from Michael Fallon (Conservative) in the House of Commons on Tuesday, 19 February 2008. It occurred during Debate on bill and Committee of the Whole House (HC) on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
I am grateful to the Minister for the consideration that she has given to the amendment. I accept her point about accountability. Of course it is the Chancellor who is in charge and he must account to the House for his decisions to put taxpayers' money at risk—or not, as the case may be. I am not quite clear about the Minister's answer. First, she said that the amendment was unnecessary, then she said that under the new banking reform Bill she proposes to put the Bank of England's role as the Chancellor's principal adviser on a more statutory basis, so there might not be as much between us as I originally thought. I will certainly reflect on what she has said and, in the meantime, I beg to ask leave to withdraw the amendment. Amendment, by leave, withdrawn.
Secondary information
- Type
- Proceeding contribution
- Reference
- 472 c255
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Compensation Accountability Audit Banks Competition Building societies Bank of England Liability EU law Government assistance Financial Services Authority Economic situation Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Regulation Stocks and shares Shareholders Takeovers Treasury Virgin Group Business plans Northern Rock Granite Sunset clauses
- Legislation
- Banking (Special Provisions) Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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