Oral Answers to Questions Debate
Full Debate: Read Full DebateStephen Metcalfe
Main Page: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)Department Debates - View all Stephen Metcalfe's debates with the Foreign, Commonwealth & Development Office
(12 years, 8 months ago)
Commons ChamberThe measures apply to the UK financial sector—to credit and financial institutions here in the United Kingdom. They do not, therefore, apply to foreign banks that happen to operate in the United Kingdom. Of course, the necessary defining measures will set that out in detail. The sanctions will be quite far-reaching, particularly as we are joining the United States and Canada in the measures, and I expect other countries to join in as well.
T2. Does my right hon. Friend agree that the European Union has centralised too much power, and that it should be one of the Government’s stated aims to return powers and competences to London from Brussels as soon as possible?