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Northern Rock and Banking Reform

The hon. Member for West Bromwich, West (Mr. Bailey) must be proud of his football team's success at the weekend, although there is a heavy match against Portsmouth in the FA cup semi-final to come. [Interruption.] I am trying to show that I have some knowledge of culture, media and sport, if not necessarily of Treasury affairs. However, I have tried to make the point that there was feverish activity in September and October, when, without the perceived imminence of a general election, more long-term decision making might have occurred.