Bank of England and Financial Services Bill [Lords]

I would like to start by emphasising that the Treasury Committee is an esteemed Committee of this...

Will this be setting a bit of a trend? For which other important posts—there will be a number of ...

I am speaking very narrowly to new clause 12. I am sure the Treasury Committee and other Committe...

Is the letter in the Vote Office if it has already been penned?

The letter is in my binder and I would be happy to read it out, provided that the Chair of the Co...

Read it out!

By popular demand, this is what the letter states:

“Dear Andrew,

During the passage o...

It would be helpful if the Economic Secretary could assure the House that that future Bill will b...

I am sure that the shadow Chancellor will welcome Government new clause 12. The Government will c...

I am grateful to the Economic Secretary, who is being extremely generous with her time. What she ...

We tabled our new clause on Thursday and, as I have said, there have been further discussions wit...

It is worth saying a little about what happened in relation to Martin Wheatley. Although he was n...

My right hon. Friend has stated the facts about the term of office to which Martin Wheatley was a...

Will the Economic Secretary inform me who the Welsh representative is, because I have absolutely ...

I will make sure that that person makes him or herself known to the hon. Gentleman with the great...

I realise that the Economic Secretary is trying to be helpful, but does she not recognise that th...

I will get to that point later in my remarks. As always, I seek to be helpful to the hon. Gentlem...

The Minister moved on very quickly from the matter of the name. I just want to clarify whether th...

I respect and pay tribute to the fact that the Bank of England was founded by someone from Scotla...

I think that the Treasury is right, in this instance, not to change the name. The Bank of England...

Yes, and on that point I hope that the support of the hon. Member for Edinburgh East (Tommy Shepp...

Further to the points made by the Minister and the right hon. Member for Cities of London and Wes...

The hon. Gentleman tries to tempt me down the path of comparisons with sports teams, but I declin...

I thank the Minister for her forbearance in giving way again. She is taking refuge in the Bank of...

The hon. Gentleman asks an important question. There are many opportunities in Parliament, in the...

I must confess that I entirely agree with what the Minister is saying about inflation. I, too, am...

My right hon. Friend, who is an extremely wise and knowledgeable person—I will not refer in any w...

I rise to speak to amendments 6 and 7 in my name and that of my hon. Friends, but I first want to...

I have a brief question on amendment 6. Although I accept that transparency and openness are the ...

I thank the right hon. Gentleman for his intervention. It may be that transparency is the spirit ...

First of all, that was a very good speech. I congratulate the hon. Member for Leeds East (Richard...

For the record, I do not think there was any undue interference from the Treasury, and I am happy...

One other issue is the apparent statutory protection against dismissal, which came into question ...

Does my right hon. Friend have some small concern that if a measure is not included in the Bill, ...

That argument can be turned on its head. One can argue that this sets a precedent that is more ea...

I congratulate my right hon. Friend on achieving this great success for parliamentary scrutiny, a...

I always like listening to my hon. Friend, who is a member of the Treasury Committee and, of cour...

rose—

Everyone is trying to pile in, whereas I am trying to get to the end of my speech. I was almost t...

Does the right hon. Gentleman not feel the slightest hint of disappointment in the intervention b...

Of course my hon. Friend the Member for North East Somerset (Mr Rees-Mogg), as a great and learne...

I agree with the right hon. Member for Chichester (Mr Tyrie) that there is a lot to be commended ...

The hon. Gentleman is making a powerful point. Does he agree that it must be significant that the...

I could not agree more. In fact, if we look at the long history of the regions and nations of the...

Obviously, in the new landscape of the City, the head of the Financial Conduct Authority holds an...

I rise to speak to new clauses 5 to 8 in this group, which are in my name. Madam Deputy Speaker, ...

Is the hon. Gentleman aware that in the United States, the central bank is called the Federal Res...

I fully agree with my hon. Friend on that point. I also agree with the points he made earlier abo...

I thought that I would come along to listen this afternoon, but I was stung into action by the Mi...

Does my hon. Friend share my sense of regret and bewilderment that the Government can so casually...

I agree entirely with my hon. Friend. Indeed, it is particularly apposite that he makes that poin...

Like many others in the Chamber and, as is clear, in the Treasury Committee, I welcome progress b...

In responding to the debate, I will perhaps leave aside the comments of the hon. Member for Coatb...

I am grateful to the Minister for what she says. The clarification that I seek relates not to leg...

The Chancellor has many powers, but not necessarily the power to ensure permanence, which is a ve...

The Minister will have heard today the heartfelt concerns of representatives from Wales, Scotland...

I think that there are a range of different ways in which that can happen, particularly now that ...

I beg to move, That the clause be read a Second time.

With this it will be convenient to discuss the following:

New clause 10—Debt management pla...

New clause 9 is designed to prevent the restriction or withdrawal of banking services from perhap...

I congratulate the hon. Gentleman on introducing the new clause. I understand from what we heard ...

The hon. Gentleman makes a valid point. Banks are de-risking very aggressively at the moment and ...

May I put on record the thanks of all of us in the House to my hon. Friend for his diligence, foc...

My hon. Friend makes a good point. As I said, the banks have acted very aggressively, and I shall...

The case that my hon. Friend makes is overwhelming. Will he tell the House whether he is aware of...

I am sure that there will always be people who are opposed to what I am trying to do. That is the...

Does my hon. Friend share my concern that the rush to implement these actions ahead of the direct...

Order. I know the fondness of the right hon. Member for East Yorkshire (Sir Greg Knight) for live...

I thought that rather complemented the intervention from my hon. Friend the Member for Braintree ...

I am pleased to follow the hon. Member for Broxbourne (Mr Walker) who made an excellent speech on...

I should like to take this opportunity to introduce my new clause 10, which is aimed at safeguard...

I am afraid that I cannot support new clause 10. While I have great sympathy with the aim of the ...

I should like to speak to amendments 1 and 2, tabled in my name, and in passing to amendments 8 a...

I rise to speak to new clause 14, amendment 8, and amendments 9 and 10, which are consequential o...

Let me start with new clause 9, tabled by my hon. Friend the Member for Broxbourne (Mr Walker) an...

Oh, go on.

Okay, the hon. Gentleman wants to hear more. In the July 2015 Budget we confirmed an extra £800 m...

I beg to move amendment 4, in clause 36, page 34, line 15, at beginning insert—

‘( ) Subjec...

With this it will be convenient to discuss amendment 5, page 34, line 44, at end insert—

‘(...

I am delighted that we have reached this group as I feared that our consideration on Report would...

The hon. Gentleman talks about our historical position, so does he support my view that my predec...

I thank the hon. Gentleman for that intervention. When I realised that I would be able to make th...

Will the hon. Gentleman give way?

I will in a minute—we have to hear from Blaenau Gwent. It would be appropriate if there was a con...

As part of the list of great men and women whom the Welsh people could consider having on our ban...

That is certainly one of the names that I would like to see put forward.

The hon. Gentleman will note that two men—great men—have been recommended, but I would like to se...

I am grateful for that intervention, too. I saw that name mentioned very honourably in this morni...

Does my hon. Friend agree that a worthwhile commercial advantage would be gained by issuing bankn...

I am grateful to my parliamentary leader for his intervention. He is completely right, and that i...

I have a Welsh pound coin with me, but it reeks of nationalist propaganda because around the edge...

My hon. Friend makes my point entirely. There is no issue of principle at stake; this is about fi...

I support amendments 4 and 5, which were tabled by the hon. Member for Carmarthen East and Dinefw...

If the amendments pass tonight and Wales is allowed to produce its own banknotes, I very much hop...

My hon. Friend makes a fantastic suggestion, and I shall return in a few seconds to some Welsh fi...

And there is an election in two weeks’ time.

I had not thought of that point.

The lack of any Welsh-themed banknotes is an error that th...

Anyone would think that a Welsh general election was going on this afternoon, would they not? I a...

Does the Minister agree with my earlier point that there is a commercial advantage to be gained f...

That is the very point that I was about to make. The amendment seeks to confer the right to issue...

I beg to move, That the Bill be now read the Third time.

It has been a pleasure to take thi...

It is my pleasure to speak for the Opposition on Third Reading of the Bank of England and Financi...

Does my hon. Friend agree that we should take over and run these dodgy banks that have been in tr...

The Prime Minister of the day did step in and take appropriate action. The important thing is tha...

We, too, will oppose the Bill on Third Reading. During Treasury questions today, the Chancellor s...