Business of the House

John McDonnell Excerpts

Tuesday 3rd July 2012 Commons Chamber

[Sir George Young]

It is indeed an important matter, and I think I am right in saying that the Chairs of all the Select Committees have added their names to the proposal, so it does have all-party support. I gently say to the hon. Gentleman, however, that in the 13 years before the last election, the Labour party consistently failed to give the Prime Minister’s adviser the freedom which is now advocated.

[John McDonnell (Hayes and Harlington) (Lab)]

Presenting just these two options does not necessarily represent the views of all Members. Many will want to have an immediate inquiry by the Treasury Committee, to enable a longer-term inquiry to take place. If that were to happen, we could address the immediate issues and have recommendations about the immediate legislative changes needed to address, in particular, confidence in the City, but then also have a longer-term inquiry that could report back in due course.

[Sir George Young]

The motions we put down tomorrow for debate on Thursday will be amendable, although whether any amendment is chosen is a matter for the Speaker.