Banking Reform

Sajid Javid Excerpts

Thursday 17th June 2010 Commons Chamber

[Mr Hoban]

I must say that I think that some humility should be shown by the Opposition Front Benchers for landing this country with a system that led to the longest and deepest recession since the 1930s.

[Sajid Javid (Bromsgrove) (Con)]

I welcome the Minister to his new role. Does he agree that these banking reforms will help to boost confidence in the British economy once they are enacted? That will help to keep interest rates lower for longer, boost investment and create jobs.

[Mr Hoban]

I am grateful for my hon. Friend’s question. It is important to ensure that businesses have confidence that where macro-prudential threats arise in future, action will be taken to resolve them. They did not have that confidence in the previous regime and I hope that they will have that confidence following the reforms that we have put forward today.