Banking: Government Shares

Lord Lawson of Blaby Excerpts

Monday 13th June 2011 Lords Chamber

[Lord Sassoon]

Number one, this is a Question about the disposal of bank shares; number two, I would not believe everything that you read on the front page of the Financial Times every day.

[Lord Lawson of Blaby]

My Lords, in saying that financial stability should be one of the considerations in the disposal, which I warmly welcome, does my noble friend agree that an element of that financial stability must be ensuring the greatest possible separation between retail banking and investment banking?

[Lord Sassoon]

My Lords, I will wait with interest to see what the final report of the independent commission led by Sir John Vickers says on that point but, as indicated in its interim report, it is at the heart of its deliberations. The Government await with interest its final report.