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Proceeding contribution from Lord Hunt of Wirral (Conservative) in the House of Lords on Thursday, 21 February 2008. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking (Special Provisions) Bill.

Banking (Special Provisions) Bill

The Minister is on shifting sands. I know that a week is a long time in politics, but when the Chancellor of the Exchequer made his announcement on Monday, he made it absolutely clear that: "““The Government have no intention ... to use the Bill to bring any institution other than Northern Rock into temporary public ownership””.—[Official Report, Commons, 18/2/08; col. 22.]" Last night, the Minister started flirting with the need for ““necessary defences”” in a ““rapidly changing environment””. Does he realise that the Bill has cast a shadow on the banking industry? It is about time that he made the position absolutely clear. Is it just for Northern Rock or is it to cover some other circumstance which the Government can or cannot foresee at present?

Secondary information

Type
Proceeding contribution
Reference
699 c292 
Session
2007-08
Chamber / Committee
House of Lords chamber
Subjects
Compensation Audit Administration Corporation tax Banks Competition Building societies Freedom of information Liability EU law Government assistance Financial Services Authority Powers Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Lloyds TSB Shares Reform Taxation Shareholders Takeovers Treasury Hybrid bills Business plans Northern Rock Granite
Legislation
Banking (Special Provisions) Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk