Banking Reform

Lindsay Hoyle Excerpts

Monday 29th November 2010 Commons Chamber

[Matthew Hancock]

In my experience it is always better to be anything than a clunking fist.

I will end by saying this. We do not know what the future holds. We know that regulation is not perfect. It is therefore far better to have one person and an institution in charge of the regulatory structure who can exercise judgment to the best of their ability than it is to try to write a rulebook for a perfect system that we know we will never create. That is why I think that the Government have already put forward such a critical change to our financial architecture—a change that I hope will be accepted by the Opposition and which will form the basis of the good economic governance of our country for years to come.

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

I call Mr Morris. Are you going to be very brief?