17 June 2010
Alok Sharma backs Government proposals to reform the banking regulation sector.
Alok Sharma (Reading West) (Con): Does my hon. Friend agree with the Governor of the Bank of England's assessment that there was little real reform of banking regulation under the last Government, and that the Opposition should therefore welcome the measures that we are setting out today?
Mr Hoban: I hope that the Opposition will welcome the measures, but their views were not very clear from what the shadow Treasury spokesman said. In the past three or four years, when we have debated the reform of parts of the banking regulation sector, the problem has been that the then Government were unable to engage in the fundamental debate about whether the architecture was right. They failed to address that question, and that led to a new Government addressing that question and putting things right for the first time.
| Hansard
Alok Sharma (Reading West) (Con): Does my hon. Friend agree with the Governor of the Bank of England's assessment that there was little real reform of banking regulation under the last Government, and that the Opposition should therefore welcome the measures that we are setting out today?
Mr Hoban: I hope that the Opposition will welcome the measures, but their views were not very clear from what the shadow Treasury spokesman said. In the past three or four years, when we have debated the reform of parts of the banking regulation sector, the problem has been that the then Government were unable to engage in the fundamental debate about whether the architecture was right. They failed to address that question, and that led to a new Government addressing that question and putting things right for the first time.
| Hansard