George Freeman
Main Page: George Freeman (Conservative - Mid Norfolk)Department Debates - View all George Freeman's debates with the HM Treasury
(14 years, 4 months ago)
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Mr Osborne
The Bank of England has an inflation target, and I am not proposing to change the inflation-targeting regime.
George Freeman (Mid Norfolk) (Con)
Thank you, Mr Speaker, for calling me before I have made my maiden speech. For the record, this is not it. [Laughter.]
Given the gravity of the situation in which the last Government have left the finances, does my right hon. Friend the Chancellor agree that it behoves all parties to work together on this? Will he confirm whether he has received any positive contributions from Opposition Members, or whether, as it appears to Conservative Back Benchers, they are now reclined into abject criticism?
Mr Osborne
Well, it was a very good maiden intervention by my hon. Friend. I find it strange that the Labour party does not want to engage in this debate. One would have thought that the Labour party was interested in how banks will be regulated, in how we learn from the mistakes and what went wrong, and in the structure of banking in the future, but the shadow Chancellor has set it against that. However, individual Back-Bench Members of the Labour party will probably be more interested in this than their Front Benchers. Of course, by setting up an independent commission and, indeed, by having the debate in the Treasury Committee and on the Floor of the House, those contributions will be heard.