Royal Bank of Scotland

Chris Bryant Excerpts

Thursday 13th June 2013 Commons Chamber

[Chris Bryant (Rhondda) (Lab)]

One can tell when this Government have something to hide: the Chancellor runs for cover and a junior Minister is sent out to make a statement and deny absolutely everything—rather unconvincingly, if I may say so. Does the Economic Secretary not understand that my constituents are still spitting with fury about the fact that they are paying the price for the mistakes made by bankers? If the dash for cash, which he has been touting around the Committee Rooms and the City of London for the past few weeks, goes ahead, yet again, bankers will make more money, brokers will make more money, and the taxpayer will lose out.

[Sajid Javid]

If I remember correctly, the hon. Gentleman was a member of the previous Government, not just a Government Back Bencher, so he was involved in decision making and presumably supported the action that the then Government took on banking regulation. I wonder whether he held those views back in 2007, just before the collapse of the British banking system, when the then Chancellor said in his Mansion House speech:

“I congratulate you Lord Mayor and the City of London on these remarkable achievements, an era that history will record as the beginning of a new golden age for the City of London.”