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)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
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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.
Is the Chancellor aware that Sir Fred Goodwin took home £15 million under the previous Government?
The clue is in the question: his title is “Sir”—and he was given that knighthood by the previous Prime Minister.