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Banking Bill

My Lords, this is a broadly sensible compromise in our view. The Member for Fareham put it very well yesterday from the Opposition Front Bench. He said: "““When Lords amendment 83 was debated in the Lords, there was significant support from the Liberal Democrats, the Conservatives and a number of Cross Benchers. The majority of 35 in the vote on it demonstrated the strength of feeling about the welcome move to increase transparency””.—[Official Report, Commons, 10/2/08; col. 1286.]" I echo those words. I have two questions. In reply, the Minister referred to the consultation which the noble Lord, Lord Myners, is taking on and which will replace weekly reporting from the Bank of England. Can the noble Lord tell us any more about when he expects that consultation to be concluded? Secondly, I notice that our amendment asked for the reports to be laid before both Houses of Parliament, whereas the amendment we are now being asked to support proposes that the Treasury, "““shall lay each report before the House of Commons””." What is the reason for that change? We are always up for a vigorous game of ping-pong when the time is right, but this is not the time or the issue.