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TOPICAL DEBATES Financial Stability

Secondary information

Type

Parliamentary proceeding

Reference

480 c423-48 

Session

2007-08

Department

Treasury

Chamber / Committee

House of Commons chamber

Proceeding contributions

Andrew Pelling | 480 c446 (Link to this contribution) Is not one of the key solutions moving all the bad debts off the banks' balance sheets? The real pro...

Lord Lilley | 480 c446 (Link to this contribution) That is exactly the point that I was making. We may have to consider doing likewise, in addition to ...

Show all contributions (74)

Diane Abbott | 480 c443-4 (Link to this contribution) It is an interesting question. Historically, the FSA has not been an effective regulator, and the Ho...

Lord Lilley | 480 c444-6 (Link to this contribution) I draw the House's attention to my interest, as in the Register of Members' Interests. It is a priv...

Barry Gardiner | 480 c446-7 (Link to this contribution) I have only a scarce couple of minutes in which to make my speech. It may shock my constituents that...

Diane Abbott | 480 c442-3 (Link to this contribution) Obviously, the whole House welcomes the financial rescue package, but it is not the end, or even the...

Ann Winterton | 480 c443 (Link to this contribution) The hon. Lady makes an interesting point. Does she not agree that when the Bank of England was made ...

Jeremy Browne | 480 c436 (Link to this contribution) I noted that, when the hon. Gentleman had the Floor earlier, the hon. Member for City of York (Hugh ...

Diane Abbott | 480 c436 (Link to this contribution) Will the hon. Gentleman give way?

Jeremy Browne | 480 c436 (Link to this contribution) I am getting a bit distracted, but I will give way one more time.

Diane Abbott | 480 c436-7 (Link to this contribution) The hon. Gentleman does not seem to understand that one of the issues in this debate about the remun...

Jeremy Browne | 480 c437 (Link to this contribution) I do understand that point. I am not saying that I am in favour of all bonuses or of bonuses for sho...

George Mudie | 480 c437-9 (Link to this contribution) As time is short, and there are many Members here, I shall move quickly through my speech. I shall n...

Lord Tyrie | 480 c439 (Link to this contribution) I agree with a great deal of what the hon. Member for Leeds, East (Mr. Mudie) said, and I might come...

Charles Walker | 480 c440 (Link to this contribution) One of my concerns is the fact that the Government are positioning what has happened as purely a fai...

Mark Hoban | 480 c436 (Link to this contribution) The hon. Gentleman is making an extraordinary series of allegations, but let me ask him this: is he ...

Lord Tyrie | 480 c440-2 (Link to this contribution) I strongly agree. It is important that we alert people to the myth that is being propagated, which i...

Peter Bone | 480 c431 (Link to this contribution) My hon. Friend makes an important point. A small part of yesterday's statement suggested that the Go...

Mark Hoban | 480 c431 (Link to this contribution) My hon. Friend highlights the ambiguity in the statement. It is important that the Financial Secreta...

Mark Hoban | 480 c430 (Link to this contribution) The hon. Gentleman seems to have spent much of his time this morning reading the newspapers.

Hugh Bayley | 480 c430 (Link to this contribution) Writing in today's issue of The Daily Telegraph, the Conservative party leader sought a guarantee th...

Mark Hoban | 480 c430 (Link to this contribution) My knowledge of international accounting standards comes from the fact that I am a chartered account...

Mark Hoban | 480 c431 (Link to this contribution) I am conscious that many hon. Members want to take part in the debate, and I have already been gener...

Adam Price | 480 c436 (Link to this contribution) I know that the Liberal Democrats' new political strategy is to put themselves to the right of the C...

Jeremy Browne | 480 c436 (Link to this contribution) It is entirely reasonable that the taxpayer, having taken a stake in the banks, should have an inter...

Barry Gardiner | 480 c431 (Link to this contribution) The contemporaneous note that I made during yesterday's statement said that the underwriting of new ...

Speaker | 480 c433 (Link to this contribution) Order. Mr. Speaker has imposed an eight-minute limit on Back Benchers' contributions, but several ho...

Mark Hoban | 480 c432-3 (Link to this contribution) I am grateful for that clarification, but the problem is that the statement, as published yesterday ...

Jeremy Browne | 480 c435 (Link to this contribution) The context of today's debate is the understanding that every economy needs a functioning banking sy...

Mark Lazarowicz | 480 c433-5 (Link to this contribution) There is undoubtedly much concern among the public about the fact that the bail-out for the banks is...

Jeremy Browne | 480 c435-6 (Link to this contribution) I take the hon. Lady's point about effective regulation, but, as I understand it, the leader of the ...

Diane Abbott | 480 c435 (Link to this contribution) The hon. Gentleman talks about micro-management of boardrooms, but I do not think that anybody, in a...

Mark Hoban | 480 c428 (Link to this contribution) For the sake of clarity, will the Financial Secretary say whether savers' money is protected up to £...

James Brokenshire | 480 c427 (Link to this contribution) The Minister has been talking about the recovery of assets. He will be aware that the Chancellor sai...

Stephen Timms | 480 c427-8 (Link to this contribution) I will come to the position of the Icelandic banks in a moment, but I wanted first to update the Hou...

Chris Mullin | 480 c426 (Link to this contribution) Will my right hon. Friend give way?

Stephen Timms | 480 c426-7 (Link to this contribution) Let me make a little more progress, if I may. I talked about our response to the difficulties of HB...

Stephen Timms | 480 c426 (Link to this contribution) I have already touched on that, but my hon. Friend is right to underline it. Indeed, the FSA has mad...

Stuart Bell | 480 c426 (Link to this contribution) I hesitate to interrupt my right hon. Friend's flow, but it had already been interrupted. Not enoug...

Stephen Timms | 480 c426 (Link to this contribution) The fall in the price of oil is certainly very welcome. There are also indications that the recent i...

Philip Hollobone | 480 c426 (Link to this contribution) This banking crisis followed a severe oil price shock in the summer, with the price of oil reaching ...

Stephen Timms | 480 c425-6 (Link to this contribution) I will make a little more progress before I give way again. In turn, that should help people and bu...

Mark Hoban | 480 c429 (Link to this contribution) As I understand it, the mark-to-market rules fall within international accounting standards, which a...

Doug Henderson | 480 c429 (Link to this contribution) Following the point raised by the hon. Member for Congleton (Ann Winterton), would the hon. Gentlema...

Mark Hoban | 480 c429 (Link to this contribution) I am not sure whether the hon. Gentleman is referring to accounting standards, which are rightly set...

Stuart Bell | 480 c429-30 (Link to this contribution) I congratulate the hon. Gentleman on his knowledge of competencies and the relationship between acco...

Speaker | 480 c429 (Link to this contribution) Order. I am afraid the right hon. Gentleman's time is up.

Stephen Timms | 480 c428-9 (Link to this contribution) The important thing was to safeguard UK economic interests. The hon. Lady is quite right: the power ...

Ann Winterton | 480 c429 (Link to this contribution) There has been much speculation about the mark-to-market rules, which have played their part in crea...

Mark Hoban | 480 c429 (Link to this contribution) Over recent months, we have seen the impact of the credit crunch move beyond the banking system, fir...

Julia Goldsworthy | 480 c428 (Link to this contribution) I just have a quick question on the freezing of assets. Could the Financial Secretary clarify under ...

Stephen Timms | 480 c428 (Link to this contribution) As my right hon. Friend the Chancellor made clear, all the deposits by retail savers will be protect...

Diane Abbott | 480 c423 (Link to this contribution) The House welcomes what my right hon. Friend has said about financial stability. One of the underlyi...

Stephen Timms | 480 c423 (Link to this contribution) I beg to move,"That this House has considered the matter of financial stability." The events in the...

David Winnick | 480 c424 (Link to this contribution) Does my right hon. Friend accept that some people must be puzzled? Over the years, we have been told...

Stephen Timms | 480 c423 (Link to this contribution) I am sure that my hon. Friend will welcome yesterday's Bank of England announcement of a reduction i...

Hugh Bayley | 480 c425 (Link to this contribution) The hon. Member for The Wrekin (Mark Pritchard), who has now left the Chamber, asked about affordabi...

Lord Bellingham | 480 c425 (Link to this contribution) The Minister will be aware that Norfolk county council is among a number of local authorities with m...

Stephen Timms | 480 c425 (Link to this contribution) My hon. Friend is absolutely right. We have the lowest level of debt, other than Canada, in the whol...

James Brokenshire | 480 c425 (Link to this contribution) Will the Minister give way?

Stephen Timms | 480 c425 (Link to this contribution) If a local authority has any concerns about that, I suggest that it contacts the Local Government As...

Mark Pritchard | 480 c424 (Link to this contribution) The Financial Secretary has mentioned three points, but are there not really four? First, there is a...

Stephen Timms | 480 c424 (Link to this contribution) No. The three strands are precisely as I have set them out. I am not sure whether the hon. Gentleman...

Stephen Timms | 480 c424 (Link to this contribution) I am aware that my right hon. and learned Friend the Leader of the House fielded several questions a...

Mark Pritchard | 480 c448 (Link to this contribution) On a point of order, Madam Deputy Speaker. On 8 October, I received a written parliamentary reply to...

Speaker | 480 c448 (Link to this contribution) Order. That is not a point of order for the Chair. The hon. Member has made his point, and Ministers...

Charles Walker | 480 c448 (Link to this contribution) On a point of order, Madam Deputy Speaker. Yesterday, the Government announced they were taking £500...

Speaker | 480 c448 (Link to this contribution) Order. I understand the frustration of Members who have been present in the Chamber today and who wa...

Stephen Timms | 480 c447-8 (Link to this contribution) We have had an interesting and thoughtful debate, and I welcome the broad support for the announceme...

Hugh Bayley | 480 c430 (Link to this contribution) I do read the newspapers—and so does the hon. Gentleman.

Paul Burstow | 480 c424 (Link to this contribution) The Financial Secretary mentioned the need for bold action. In his statement yesterday, the Chancell...

Mark Hoban | 480 c430 (Link to this contribution) It is good that the hon. Gentleman does that. He should have asked the Financial Secretary how the G...

Mark Hoban | 480 c431 (Link to this contribution) I am happy to give way to the former envoy for forestry.

Stephen Timms | 480 c424 (Link to this contribution) My hon. Friend is absolutely right. I have been struck by how some people who have customarily denou...

Subjects

Assets Debts Bank services Banks Credit Bank of England Borrowing Investment Financial institutions Financial Services Authority Financial markets Local government Public expenditure Mortgages Loans Lloyds TSB Housing market HBOS Government guaranteed credit Royal Bank of Scotland Abbey National ING Bank Landsbanki Bradford and Bingley Heritable Bank

Legislation

Anti-terrorism, Crime and Security Act 2001

Link

View this Parliamentary proceeding on www.publications.parliament.uk