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Finance (No. 3) Bill

Let me make my point and then perhaps the hon. Gentleman can explain the position of his party when it was in government. In opposition, we made it clear that the UK should introduce, unilaterally if necessary, such a levy, but just weeks before the general election, the previous Government told us that a bank levy would have to be"““coordinated internationally to avoid jeopardising the UK's competitiveness.””" Where we and our coalition partners have sought to lead international debate, Labour would hang back and let others make up their mind for them.