Nadhim Zahawi
Main Page: Nadhim Zahawi (Conservative - Stratford-on-Avon)Department Debates - View all Nadhim Zahawi's debates with the HM Treasury
(13 years, 11 months ago)
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Mr Osborne
Because I am clearing up the mess left to me by the hon. Gentleman’s party. This Government have done more in the last seven months to create a safer, more properly regulated banking system than Labour did in 13 years. As of the beginning of this year, we have a new code of practice that applies to 2,500 firms, compared with the 25 firms that were regulated under the previous Government, and, as I have said, we are seeking this new settlement with the banks that will, I hope, lead to a material increase in the amount of money that they lend to the British economy, and a material decrease in the amount they would otherwise have paid in bonuses.
Nadhim Zahawi (Stratford-on-Avon) (Con)
Is the Chancellor aware that Sir Fred Goodwin took home £15 million under the previous Government?
Mr Osborne
The clue is in the question: his title is “Sir”—and he was given that knighthood by the previous Prime Minister.