Sajid Javid
Main Page: Sajid Javid (Conservative - Bromsgrove)Department Debates - View all Sajid Javid's debates with the HM Treasury
(13 years, 3 months ago)
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Sajid Javid (Bromsgrove) (Con)
The ICB’s ring-fencing proposals are not so very different from the Glass–Steagall provisions that existed in the United States. I worked for a United States bank under Glass–Steagall. I was also there when Glass–Steagall was abolished in 1999, and witnessed the adverse change in behaviour. On the basis of my experience at the coalface, may I reassure the Chancellor that he is right to welcome the proposals?
Mr Osborne
My hon. Friend—who wrote what I thought was a very good piece for The Times, published on 9 September—has made a point based on his personal experience. I may or may not offend someone when I say that he is probably the most senior former investment banker in the House of Commons.