As the hon. Gentleman knows, I am a supporter of a British Glass-Steagall approach. Does he recognise that if we go down that route, it will allow much lighter regulation for large parts of the financial service sector, which is, after all, one of its main benefits?

As the hon. Gentleman knows, I am a supporter of a British Glass-Steagall approach. Does he recognise that if we go down that route, it will allow much lighter regulation for large parts of the financial service sector, which is, after all, one of its main benefits?

May I ask the hon. Gentleman a question about that very point? As he and I have discussed before, one of the problems is Government creditworthiness. At the point that he was describing, sterling was a reserve currency, which it is not now. Therefore issues of creditworthiness are higher now...

May I ask the hon. Gentleman a question about that very point? As he and I have discussed before, one of the problems is Government creditworthiness. At the point that he was describing, sterling was a reserve currency, which it is not now. Therefore issues of creditworthiness are higher now...

I am just posing this as a question; I do not actually know the answer. A few weeks ago, Paul Volcker made a speech about the intrinsic problems of the American economy. One of the things he said was that in the past decade, there had been a sharp increase...

I am just posing this as a question; I do not actually know the answer. A few weeks ago, Paul Volcker made a speech about the intrinsic problems of the American economy. One of the things he said was that in the past decade, there had been a sharp increase...

It is always a pleasure to follow the right hon. Member for Oldham, West and Royton (Mr. Meacher) because he matches eye-watering damage to the economy with eye-watering honesty, and we always know that he means exactly what he says on these issues. I suspect that many Opposition Members agreed...

It is always a pleasure to follow the right hon. Member for Oldham, West and Royton (Mr. Meacher) because he matches eye-watering damage to the economy with eye-watering honesty, and we always know that he means exactly what he says on these issues. I suspect that many Opposition Members agreed...

I agree with the hon. Gentleman. We all feel aggrieved at Fred Goodwin’s pension, but his proposal will not work. Laws aimed at one person are invariably struck down by the courts. If he wants to get the measure of that, he should look at what happened when we tried...

I agree with the hon. Gentleman. We all feel aggrieved at Fred Goodwin’s pension, but his proposal will not work. Laws aimed at one person are invariably struck down by the courts. If he wants to get the measure of that, he should look at what happened when we tried...

Let me make two points about the hon. Gentleman’s comments on debt. First, as I said to the hon. Member for Twickenham (Dr. Cable), we are no longer a reserve currency and our credit worthiness is now in question. Two countries have already had their credit worthiness reduced. Secondly—this is...

Let me make two points about the hon. Gentleman’s comments on debt. First, as I said to the hon. Member for Twickenham (Dr. Cable), we are no longer a reserve currency and our credit worthiness is now in question. Two countries have already had their credit worthiness reduced. Secondly—this is...

The Government did not do what the Swedes did. They did not carry out that up-front identification. The best example of that came during the past couple of days in relation to the Lloyds-HBOS merger, which was forced through incidentally by stopping the action of our competition laws. That was...

The Government did not do what the Swedes did. They did not carry out that up-front identification. The best example of that came during the past couple of days in relation to the Lloyds-HBOS merger, which was forced through incidentally by stopping the action of our competition laws. That was...

To ask the Chancellor of the Exchequer in which companies the Government holds special shares; and which departments are responsible for them.

To ask the Chancellor of the Exchequer in which companies the Government holds special shares; and which departments are responsible for them.