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Banking (Special Provisions) Bill

If the noble Lord is bringing to my attention that the Chancellor of the Exchequer expresses himself more accurately than I am likely to do, of course I subscribe to that. What I sought to do last night was to reiterate exactly the point that the Chancellor of the Exchequer had made in the debate on Monday. I am grateful to noble Lords for giving me the chance to give that assurance. I emphasise again that the powers that we are taking are triggered only in the most extreme circumstances. They are merely the actions of a prudent Government in difficult times creating legislation that will carry us over a temporary period. That is why the 12-month limit is there, because we intend to have in place the full banking proposals under a banking Bill, which we hope will become an Act, which will render the provisions in this Bill quite otiose. That is why they are limited powers. I hope that the noble Lord will think that at last I have got round to his two amendments and will feel that he has created a most interesting debate, but can safely withdraw his amendments.