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Banking Bill (Money)

I beg to move,"That, for the purposes of any Act resulting from the Banking Bill, it is expedient to authorise—""(1) the payment out of money provided by Parliament of any expenditure of the Secretary of State in respect of, or in connection with, giving financial assistance to or in respect of a bank or other financial institution, and""(2) the payment out of the Consolidated Fund, in urgent cases, of expenditure which would otherwise be paid under the Act out of money provided by Parliament." As the House will be aware, provision for public expenditure in legislation can be considered only if a money resolution authorising a charge to public funds has been passed. Such a resolution was passed by this House at the end of the Second Reading debate on 14 October last year, in the usual way. However, as the House will also know from amendments made to the Bill in another place, which we shall debate shortly, the Government found it necessary to have the Bill amended there to provide the necessary statutory cover for expenditure on a wider range of matters than had been thought necessary when the original money resolution was passed. In particular, as I shall explain in more detail shortly, it was necessary to make provision for a number of schemes operated by Government Departments that had, as their object, the provision of support in these difficult times for bodies that are not banks or other financial institutions, as well as for banks and financial institutions themselves. We therefore require a new money resolution to approve this extension of the financial scope of the Bill before we consider the amendments that the other place has made.