Oral Answers to Questions

Lord Goldsmith of Richmond Park Excerpts

Thursday 13th January 2011 Commons Chamber

[Vince Cable]

That is an utterly absurd question. The hon. Gentleman knows that after the massive banking crisis that happened under the last Government as a result of poor supervision of an overweight banking sector, this Government are trying to introduce measures to make it more stable and to contribute to the real economy. That will happen; it did not happen under the last Government.

[Zac Goldsmith (Richmond Park) (Con)]

Following the coalition’s commitment to phasing out fossil fuel subsidies via the Export Credits Guarantee Department, has any progress been made on agreeing a definition of such subsidies?

[Mr Davey]

I believe that officials are discussing the matter with other Departments that are involved in it. I will certainly write to the hon. Gentleman.