Peter Tapsell
Main Page: Peter Tapsell (Conservative - Louth and Horncastle)Department Debates - View all Peter Tapsell's debates with the HM Treasury
(11 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
The Department for Business, Innovation and Skills is investigating zero-hours contracts. It is seeking to establish whether there is abuse, and, if there is abuse, what we should do about it.
The Labour party seems to have suddenly discovered this issue. I do not remember a single Minister ever raising it when Labour were in government. Moreover, a number of Labour councils use zero-hours contracts.
Sir Peter Tapsell (Louth and Horncastle) (Con)
Although the economy is improving, I am afraid that the same cannot be said of the deputy Chancellor—[Interruption.]
Sir Peter Tapsell
Yes—you! [Laughter.]
Given that Sir John Vickers has just warned us that British banks are still seriously under-capitalised, does my right hon. Friend now accept that ring fencing, whether electrified or not, cannot be relied on to provide adequate protection for depositors and businesses in the event of another banking crisis? Will he therefore give further thought to the proposal, supported by Mr Paul Volcker and Lord Lawson, for the total separation of the commercial and investment banking sectors?
Mr Speaker
I will grant the right hon. Gentleman an Adjournment debate on the matter if he judges it to be necessary after he has heard the reply to his question. We shall see—but I am grateful to him.