(6 years, 8 months ago)
Commons ChamberThe hon. and learned Gentleman, who considers these matters in great detail, will understand that this matter relates to clause 12, which details financial provisions. Clearly it would be impossible for the Government to bring forward such a motion that did not have the clarity that the House expects. In my generosity, I drafted the new clause so as to make it as broad and flexible as possible. Any information would be better than no information. I know that he is urging me to be firmer with the Government on the issue—a manuscript amendment is always possible, so I look forward to that. Let us give the Government a chance to accept the new clause, because it is perfectly reasonable.
My hon. Friend is exposing whether the Government are hiding facts from the House over the cost of the divorce bill. Is he concerned, as I am, that the lack of scrutiny means we do not know what we are getting for the money? For instance, we have heard from Government Members that we are leaving a club. Well, we have to settle our tab before leaving a club. They are also confusing that with the future trade deal. We are not seeing what the cost of the trade deal will be. There seem to be two figures here: the cost of leaving and the cost of a trade deal—but we are not getting that detail from the Government.
No, and of course we are talking about the divorce bill now, even though we have had no sight of it, because the Prime Minister is naturally anxious to move on from phase 1 to phase 2 of the talks. I almost feel sorry for her, because she is being pulled from pillar to post, with the hard Brexiteers wanting one thing and the DUP always yanking her chain in another way. The EU is of course a stickler when it comes to sufficient progress, but sufficient progress is what she wants to achieve, so she will give them a nod and say, “We will give you a divorce bill settlement, but please don’t publish how much it is, in case Parliament and the public find out.” If it is in the order of £67 billion, which is in the back of the OBR’s red book—I doubt it will be that high—that equates to £1,000 for every man, woman and child in this country. Members should just think about that when they are next in their constituencies: £1,000 for every single person they see will be part of that divorce bill.
(14 years, 1 month ago)
Commons ChamberQuite, and this is important. We could send a signal from this House that we, as politicians and representatives of the general public, believe that that particular industry has to pay back the cost it is has left upon the shoulders of the general public. Is it not always the case that the general public—the ordinary working people—have to dig us out of the hole created by those affluent and comfortable individuals who work in the banking system?
I am grateful to my hon. Friend, because his probing is uncovering who is winning the arguments on the Government Benches. The Liberal Democrats went into the election calling for a 10% levy on banks, but the outcome is that what has been raised in the levy has more than been compensated for by the corporation tax cuts. We are seeing who is winning the arguments on the Government Benches on making the banks pay their fair share.
That is the case, and we have seen the glee with which the banking industry reacted after the Budget to this puny banking levy of less than 0.1% on the banks’ profit and asset base.