Business of the House

As we move into this recession, we have seen unemployment rise massively in the past three months, and forecasts for the future are pretty gloomy. Given that it is our job to try to protect and preserve jobs, it does not appear to make a great deal of sense for the Government to press ahead with their support of the Lloyds TSB-HBOS merger which, it is reported today, could lead to the loss of 60,000 jobs. Edinburgh and Lothian Members, including the Chancellor, are conscious of that, and MPs in the Halifax area are also aware of the concerns in their constituencies. May we have a debate, in Government time, so that the Government can justify their continued support for the shotgun merger of Lloyds TSB and HBOS, and the potential loss of jobs, and to hear the arguments from both sides of the House? Independent recapitalisation of both banks would provide as much stability as the merger, and it would preserve and protect lots of jobs.