Finance (No. 2) Bill

Debate between Mark Field and Baroness Primarolo

Tuesday 1st April 2014 Commons Chamber

[Mark Field]

I will ask the questions rather than answer them, if the shadow Minister does not mind. He implores us to look at the Bill in a balanced way. We have heard statements about tax cuts for millionaires time and again over the past year and again today in the House. Does he recognise that the top 1% of British citizens are now paying the highest share of income tax that they have ever paid in the history of that tax—some 30%? Purists such as me have at times been mildly critical of the inconsistency of elements of the welfare and tax changes that have been made even during this coalition Government, but we have gained a hell of a lot of social cohesion in this country—

[Madam Deputy Speaker (Dawn Primarolo)]

Briefly.

[Mark Field]

—in marked contrast to many other European nations, and the Government should be congratulated on that.

LIBOR (FSA Investigation)

Debate between Mark Field and Baroness Primarolo

Monday 2nd July 2012 Commons Chamber

[Madam Deputy Speaker (Dawn Primarolo)]

Order. I inform hon. Members that there is very important business after this statement and I will therefore be unable to fit everyone in. I plan to let the statement run for another 10 minutes or so, so short questions and short, direct answers would help enormously.

[Mark Field (Cities of London and Westminster) (Con)]

For the reasons the Chancellor has set out, I very much agree that the long path back to trust in banking and financial services is served by a banking Bill, but will he take on board some of the concerns expressed just now by the hon. Member for Brighton, Pavilion (Caroline Lucas)? Many feel that the LIBOR scandal might be a turning point. In addition to looking at ring-fencing, is he open-minded enough at least to consider the prospect of a fully fledged separation of casino or investment banking from retail banking?