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Proceeding contribution from William Cash (Conservative) in the House of Commons on Tuesday, 10 February 2009. It occurred during Debate on bill on Banking Bill.

Banking Bill (Money)

A subject that I have been pursuing since at least 7 October is what is a proper measure of the percentage of gross domestic product represented by the debt—it is somewhat along the lines of the remarks made by my hon. Friend the Member for Wellingborough (Mr. Bone). My hon. Friend the Member for Fareham (Mr. Hoban) correctly referred to contingent liabilities as the proper criteria. However, surely the real criteria should be the financial obligations that are entered into. Nobody could seriously doubt that we are speaking of financial obligations, so whatever the measure that may be imposed by virtue of a theoretical definition, the fact is that the figures are up to £2 trillion to £2.5 trillion, as I said in the most recent debate. Does my hon. Friend agree that we need to work that out carefully so that we get a proper measure, not just a theoretical measure, of what is defined?

Secondary information

Type
Proceeding contribution
Reference
487 c1263;487 c1261 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Disclosure of information Compensation Codes of practice Accountability Directors Administration Assets Bank services Banks Delegated legislation Bank of England Investment Financial institutions Insolvency Government assistance Financial Services Authority Holding companies Foreign companies Pay Pensions Payments Property transfer Public sector Parliamentary scrutiny Loans Nationalisation Treasury Valuation Northern Rock National Loans Fund Henry VIII clauses Retrospective legislation
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk