Lord Barnett
Main Page: Lord Barnett (Labour - Life peer)Department Debates - View all Lord Barnett's debates with the HM Treasury
(11 years, 3 months ago)
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Lord Newby
Yes, my Lords, and of course that is exactly what we are doing with the banking reform Bill.
Lord Barnett
My Lords, the draft banking Bill came from the House of Commons yesterday. I have only just had a chance to glance at it, but it clearly is not quite in line with what was recommended on the important issue of regulation regarding ring-fencing. Why not?
Lord Newby
My Lords, as my colleague the Financial Secretary has made clear in another place, there are some aspects of the commission’s views on the speed and timing of ring-fencing that the Government are going to look at further and revisit when the issue comes back to your Lordships’ House. We have Second Reading of the Bill on 24 July, and my noble friend Lord Deighton will look forward to telling the House more about the provisions of the Bill at that point.