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Banking Bill

My Lords, I ask my noble friend to take on board the point about UKFI. I absolutely support the sentiments expressed by the noble Baroness, Lady Noakes. UKFI is active in those banks owned or part-owned by the Government. The basis on which it is operating is not entirely clear. It has not been helped by the transfer of personnel. I make absolutely no criticism of Sir Philip Hampton, but to be in charge of UKFI one day and become chairman of RBS the next confuses people who are not as close to the situation as banking professionals—I should declare an interest: I work for a Canadian bank—or politicians. It is incumbent on the Government to be much clearer about the regime under which UKFI is operating. I urge my noble friend to attend to that with all speed.