Gordon Banks
Main Page: Gordon Banks (Labour - Ochil and South Perthshire)Department Debates - View all Gordon Banks's debates with the Department for Education
(13 years, 10 months ago)
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Vince Cable
Indeed, it would help if bonuses, where they exist, reflected performance in lending to the good companies that my hon. Friend describes. That is precisely why the Chancellor and I are discussing how we will ensure a proper flow of credit to those excellent enterprises, which are the backbone of our economy.
Gordon Banks (Ochil and South Perthshire) (Lab)
We have just heard a lot of drivel from the Secretary of State. The coalition agreement said:
“We will bring forward detailed proposals for robust action to tackle unacceptable bonuses in the financial services sector; in developing these proposals, we will ensure they are effective in reducing risk.”
Will the Secretary of State use his nuclear option to make that happen, or will he dance away from it, in the same way as the coalition has danced away from the net lending targets that were also in the coalition agreement?
Vince Cable
The coalition agreement is a much more eloquent statement of our position than the hon. Gentleman’s rather tortured metaphors. It states precisely that we will take robust action on unacceptable bonuses, and that remains our position.