Royal Bank of Scotland
Debate between Craig Williams and Harriett Baldwin(9 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Harriett Baldwin
I welcome my hon. Friend back to this place. Let me say what a joy it was to be his Whip for so many years. One always knew where one stood with him, and that also applies to the very sensible question that he has just asked. I think, though, that he needs to hold his horses in relation to RBS. As he will know, the manifesto on which he stood committed us to a wide retail offer of Lloyds Bank shares at some time in the not too distant future, and we will be dealing with that sale first.
Craig Williams (Cardiff North) (Con)
Will my hon. Friend assure me that we will never return to the system of light-touch regulation that was advocated and encouraged by the former shadow Chancellor when he was City Minister?
Harriett Baldwin
I welcome my hon. Friend to the House. He is right: over the past five years, we have taken painstaking steps to establish a system of regulation in the financial services industry that will ensure that never again will the taxpayer be forced to bail out a bank.