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Proceeding contribution from Lord Stewartby (Conservative) in the House of Lords on Monday, 2 February 2009. It occurred during Debate on bill on Banking Bill.


Banking Bill

My Lords, I do not think that the Government have sufficiently taken on board the enormous importance of continuity. They accept that it should happen but, by resisting the sort of amendment that would specifically spell it out, they make one feel that it is rather a subsidiary objective. The clause contains several objectives, such as protecting public funds, enhancing, "““public confidence in the stability of the banking systems of the United Kingdom””," and others. These are all important and necessary objectives to spell out. However, for most people and businesses involved with banks, the most important thing is uninterrupted service and continuity of their banking arrangements. I hope that the Government appreciate how strong the feelings about this are.


Secondary information

Type
Proceeding contribution
Reference
707 c489 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Codes of practice Consumers Accountability Directors Assets Bank services Banks Competition Delegated legislation Advisory services Building societies Bank of England Finance Human rights EU law Financial institutions Insolvency Government assistance Financial Services Authority Private sector Protection Pay Public appointments Pensions Public interest Property transfer Mergers Parliamentary scrutiny Pension funds Pension rights Nationalisation Regulation Shares Valuation Taxation Shareholders Treasury UK Financial Investments Financial Services Compensation Scheme Northern Rock Bradford and Bingley Hampton, Philip
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk