Finance Bill

Ronnie Campbell Excerpts

Tuesday 3rd July 2012 Commons Chamber

[Mr Ronnie Campbell (Blyth Valley) (Lab)]

rose—

[Mr Hoban]

I will give way to the hon. Gentleman; otherwise he might explode.

[Mr Campbell]

When the Minister talks about the economic mess, does he mean the £600 billion that the Labour Government had to give to the banks to bail them out and keep them afloat?

[Mr Hoban]

The UK economy has suffered hugely as a consequence of the financial crisis. It has lost £140 billion in growth. We have to tackle the causes of that failure, as well as tackling the deficit that the previous Government left behind. That is what we are doing through the Financial Services Bill, which is passing through Parliament at the moment.