Finance (No. 3) Bill

Lord McCrea of Magherafelt and Cookstown Excerpts

Tuesday 3rd May 2011 Commons Chamber

[Mr Ward]

It is useful to have on record your opposition to the reduction in corporation tax, which will enable the companies concerned to employ many of the people about whom you have been talking. However, what really interests me is why, when the Government are monitoring every single day the repayment of loans to the banks, the effect of the tax levy and its adequacy, banks’ lending to businesses—which was mentioned by the hon. Member for Denton and Reddish (Andrew Gwynne), who is sitting next to you—and the strengthening of the banks’ balance sheets, you are prepared to wait—

[The Temporary Chairman (Dr William McCrea)]

Order. Let me draw the hon. Gentleman’s attention to the fact that “you” refers to the Chair, and that I am not participating in the debate.

[Mr Ward]

I apologise, Dr McCrea. I should like to know why the hon. Member for North Durham (Mr Jones) is prepared to wait seven or eight months for a review of something that the Government are doing every single day.