Deregulation Bill

Debate between Kelvin Hopkins and Julie Hilling

Monday 23rd June 2014 Commons Chamber

[Kelvin Hopkins]

The right hon. Gentleman may remember that I was not always in favour of everything that new Labour did. In fact, I wanted to go a great deal further. I called myself a democratic socialist, rather than new Labour.

[Julie Hilling]

Does my hon. Friend recall that the then Tory Opposition continuously argued against regulation of banks and other financial institutions?

[Kelvin Hopkins]

My hon. Friend is right. I think that we are now recognising the mistakes of the past and, perhaps, seeing the supertanker beginning to turn. I want it to turn much faster, and move towards the more civilised society that we had before the deregulatory society that we have seen for the last 20 or 30 years.

I think that I have made my point. I think that the Bill is dogmatic, and that bits of deregulation have been put in to give it some kind of meaning. I think that the Government are profoundly mistaken. The speeches made by Opposition Members have demolished the Government’s arguments, and I look forward to seeing the Government defeated in the Lobbies.