---

Banking (Responsibility and Reform)

I thank the hon. Member for Derby North (Chris Williamson) for what will appear in print as a helpful intervention. I turn to the mishmash of observations that the Opposition have called a motion. It might, to them, make a motion, but it certainly does not make a policy. On the key issues, the coalition Government have already taken sensible steps towards reform: they have found an answer to the mess of regulation by centralising it under the Bank of England; they will implement the recommendations of the Vickers report; and they are introducing changes to the compensation culture so that it can get back to supporting enterprise and rewarding merit, which is what we all want. The shadow Business Secretary did a good job of holding back the hostile anti-business rhetoric. I just hope that the shadow Chief Secretary to the Treasury can restrain herself in her usual anti-business rhetoric when she winds up for the Opposition.