Oral Answers to Questions

Guy Opperman Excerpts

Wednesday 12th February 2014 Commons Chamber

[Mr Jones]

The proposal for a development bank for Wales was floated recently by Professor Dylan Jones-Evans, and I believe that he is now conducting another exercise for Edwina Hart, the business development Minister in Wales. We are certainly prepared to consider the proposal, and, in fact, I have already discussed it with my right hon. Friend the Secretary of State for Business, Innovation and Skills.

[Guy Opperman (Hexham) (Con)]

Does my right hon. Friend welcome the fact that it was this Government who passed the Financial Services (Banking Reform) Act 2013, which enabled local banks to come into existence and has resulted in the creation of more than 20 new challenger banks, and which the Labour party voted against?

[Mr Jones]

I entirely agree with my hon. Friend. Furthermore, the Government are working closely with the British Bankers Association to set up a business finance taskforce, which gives bank customers a right of appeal when they feel that they have been treated unfairly.