(11 years, 5 months ago)
Commons ChamberIndeed. In this post-global financial crisis period, and the global downturn in trade that followed, there is a crisis in citizen and consumer confidence in business. Reasserting that confidence will require standards and agreements that people believe will benefit them, their families and their areas, and are not just deals done by politicians and big business in the backrooms of Brussels.
Will the right hon. Gentleman give way?
The hon. Gentleman is the only Liberal Democrat in the Chamber, so I am delighted to give way.
I thank the right hon. Gentleman for giving way and congratulate him on his all-party work, which he is very good at. I agree that the views on the Government Benches are not united. I have a lot of sympathy with the idea of maintaining minimum standards.
I am grateful for that continuing cross-party support at least. [Interruption.] The Minister is chuckling away; I look forward to hearing what he has to say a little later.
I have a third answer to my friends who ask why I am backing the deal, and it is this. I am pro-European and pro-internationalist, and I think this potential agreement underlines more clearly than anything the benefits for Britain of being part of the European Union. Those benefits would be simply unavailable if Britain left the European Union and tried to go it alone.
(12 years, 7 months ago)
Commons ChamberMy hon. Friend, who knows far more about this matter than me and many in the House, is absolutely right. At a time when a loss of trust and confidence in financial services is evident across the board, that local presence and face-to-face relationship counts for a great deal.
Amendment 72 is a permissive amendment, and yet clause 47(3)(f) mentions
“making provision that appears to the Treasury to be necessary or expedient in consequence of the provisions of this Act.”
What will the amendment enable the Government to do by order that is not already possible under that measure?
I am disappointed in the hon. Gentleman, because he, too, has a strong track record on this matter, and that sort of nit-picking misses the point of the amendment. The point of the amendment is to hold the coalition parties in the Government to their coalition pledge, which he is unable to do. It is a way of making public two years of failure and saying, “Within six months, you must do better.”
The amendment does not make the Government do anything, because clause 47 states that the
“Treasury may by order amend the legislation”.
If the Treasury does not want to do so, it does not have to do so. The amendment does not hold the Government to account. No wonder you are failing as an Opposition; your amendments are badly drafted.
Order. I am not failing as an opposition, so I do not think that is parliamentary.
I have not seen the hon. Gentleman’s amendments to make the measure not permissive, but a requirement of the Government—Mr Speaker must not have selected it. Clearly, anything in statute would be a significant step forward, as the shadow Minister, my hon. Friend the Member for Nottingham East, has argued. Those on both sides of the House who have an interest could use a permissive measure in future.
Does the right hon. Gentleman believe that we make a man any taller by measuring his height?
No, but by measuring height, one makes a statement that height matters. The amendment makes a statement that the coalition pledge on mutuals, and on greater diversity and competition in financial services, matters. That is the purpose of the amendment and the debate. I hope that my hon. Friend presses it to a Division because it will expose the Government’s complacency in making promises and failing to live up to them.