Banking

Debate between Sajid Javid and Lord Stunell

Wednesday 15th January 2014 Commons Chamber

[Sajid Javid]

I am glad that my hon. Friend has referred to that. It was the right thing to do, and it demonstrates that we can take some of the money that is coming from the banking sector and use it for good causes.

[Sir Andrew Stunell (Hazel Grove) (LD)]

My hon. Friend mentioned the shadow Chancellor’s failure to tackle the abuses that were taking place in the banking system. Will he confirm that the shadow Chancellor encouraged the development of a less regulated environment, and that that contributed to the problems that we now face?

[Sajid Javid]

My right hon. Friend has made an important point. I have already quoted what the shadow Chancellor said in 2006, when he was the City Minister, but those were not just his views; they were also the views of his boss, the then Prime Minister, the man who did more damage to our financial sector than any other. This is what the last Labour Prime Minister said in his 2007 Mansion House speech:

“I congratulate you Lord Mayor and the City of London on these remarkable achievements, an era that history will record as the beginning of a new golden age for the City of London.”

Shortly afterwards, he carried out the world’s largest banking bail-out.

Oral Answers to Questions

Debate between Sajid Javid and Lord Stunell

Tuesday 14th May 2013 Commons Chamber

[Sajid Javid]

The numbers I tend to look at are those provided by the Office for National Statistics. Those numbers show not that 1.25 million jobs were created in the private sector since the end of the first quarter of 2010, but that 1.31 million jobs were created. If we allowed for transfers from the further education sector, which we do not, the figure would be 1.5 million jobs.

[Andrew Stunell (Hazel Grove) (LD)]

Q9. What plans the Government have to use the UK’s presidency of the G8 to tackle corporate tax evasion.