Oral Answers to Questions

Alun Michael Excerpts

Wednesday 26th January 2011 Commons Chamber

[The Prime Minister]

I thank my hon. Friend for his question. The Public Accounts Committee can do a lot of that work by unveiling some of the appalling decisions that were made, which were just about off-balance-sheet accounting, rather than good value for money. I see the shadow Chancellor nodding, but he was in the Treasury when all that happened. As in so many cases, what we will find is that the mistakes that we now have to pay for are the responsibility of Gordon Brown’s two henchmen sitting on the Opposition Front Bench.

[Alun Michael (Cardiff South and Penarth) (Lab/Co-op)]

Q14. The Prime Minister used to talk rather a lot about fairness, but he has not done so well on performance, so here is a test for him. The banks have walked away from the talks on bankers’ bonuses. What will he do about it?

[The Prime Minister]

The talks are ongoing, and I will tell the right hon. Gentleman what I want. I want the banks to pay more in tax, and they will pay more in tax, up from £18 billion last year to £20 billion next year. He says they have walked away; they have not. These talks are ongoing, and I want to see the taxes go up, the bonuses come down, but vitally, the lending increase. I am confident that we will achieve all those three goals.