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Banking Bill

As a result of government interventions, there are clearly some disadvantages to certain groups of consumers, to use ““consumers”” in the widest sense. But there is the bigger picture, as the Minister has said. It was essential to rescue the banks and to intervene in order to restore a degree of confidence in the banking system. That, frankly, is the big picture for consumers at this point. The way the Government have done that can be argued about in terms of the effect on some consumers. This is why I started by saying I support the main thrust of this Bill. There are some consequences to consumers by the restriction of competition and I would not want the Government to lose the ability, or indeed the necessity, of having another look at it. This is, after all, the structure of the industry that they have created.