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


Banking Bill (Money)

I want to see Parliament at the centre of what this country decides in relation to the Executive. That has happened throughout our history, and we are elected to ask the Executive for certain informations. We have been hollowed out in the great debate that faces each of our constituents, and we have not even had proper debates on the Government's economic conduct. They do not want to come to the House to discuss that; they just send a little message, a three-minute speech by the Minister explaining why it is essential that we should bounce along to their drumbeat. No, no—I agree with my hon. Friend the Member for Stone (Mr. Cash) that we should oppose the motion so that the Government take seriously the intent of Parliament. Each one of us must justify such vast sums, which could bankrupt the nation. The bankruptcy of countries is not unknown in history. When one hears of money simply being thrown around, without ascertaining or establishing conditions, it makes one feel that the Government do not know what they are doing apart from pushing money into the economy somehow. We need to be more intelligent about the matter, and so do the Government. The Executive are trying to achieve what all hon. Members want—the stabilisation of an economic crisis and beginning of life again. However, that should be done in partnership, so we should oppose the motion.


Secondary information

Type
Proceeding contribution
Reference
487 c1270;487 c1268 
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