EU Council Debate

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Department: Cabinet Office
Monday 2nd July 2012

(12 years, 4 months ago)

Commons Chamber
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Matt Hancock Portrait Matthew Hancock (West Suffolk) (Con)
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I warmly welcome the announcement of the review into banking to replace the failed regulation drafted by Labour Members, but will the Prime Minister ensure that, as a deterrent, criminal sanctions are available in future for those bankers who are wholly irresponsible?

Lord Cameron of Chipping Norton Portrait The Prime Minister
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My hon. Friend makes an important point. The Chancellor will be going into more detail on this issue. We need to ensure that the regulators and the SFO have all the powers they need. People will not understand why crimes on the high street are punished in one way but crimes in the banks and elsewhere are punished in another way. That absolutely needs to be cleared up, and I am sure that this Government will do so.