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Banking Bill

I find this rather depressing, because although I have no problem with the action being taken, it appears that the Treasury’s judgment is now being imposed—the only right of recourse being to the European courts, which is a rather difficult right for individuals to take. I had feared that this is what the Government intended by the clause. The Treasury might well judge that an individual was responsible for failure, as happens in other business situations, but it is not right then to say that the Treasury’s judgment means that it can completely wipe out virtually all rights of recourse to the normal avenues available in this country. That gives the Treasury, or indeed the Bank of England, a power that is disproportionate to the situation, because it is a question of the Bank’s or the Treasury’s judgment of that individual and not of the court establishing the correct position. However, the Minister is clear that that is the intention. I see that he is being passed another note. Does he want to add anything?