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Banking Bill

My Lords, the Government have demonstrated that they are going to use these extraordinary times as cover for pretty extraordinary legislation. Earlier today, we debated Clause 75 where the Government are taking unprecedented powers and such unprecedented powers are being taken in other areas of the Bill as well. This too is an unprecedented way of getting cover for the kind of schemes which the Minister has in mind. He has turned a financial stability support clause into one which will support any Secretary of State funnelling any amount of money as long as it goes via a bank or other financial institution. The Minister says that he does not see merit in the amendment. From a constitutional position, there is massive merit in the amendment because it restricts the Government to these exceptional emergency powers for a reasonable time. That is a normal thing for Governments to do. We are constantly being faced with the argument that extraordinary times justify all these actions. At some stage that will not work. The Minister's argument about changing a scheme is so minor as not to be worth responding to. If the authority were to run out, obviously the Government would have to take a new scheme and they would not change a scheme to change existing obligations. These are not substantive points, but I accept that the Minister has threatened the House, using the phrase ““hostages to fortune””, and the emotive language which the Government like to deploy when trying to get their own way in taking huge powers. On this occasion I shall withdraw the amendment, but it is the last time I will withdraw an amendment of this nature on this Bill. I beg leave to withdraw the amendment. Amendment 75 withdrawn.