Oral Answers to Questions

Steve Rotheram Excerpts

Tuesday 8th February 2011 Commons Chamber

[Danny Alexander]

As the hon. Gentleman implies, a vast number of PFI contracts were negotiated under the previous Government. If he, in common with any other hon. Members, has examples of low value for money PFI contracts or other concerns, I would be happy to look at them, as I said at the previous Treasury questions. Since then, no hon. Member except my hon. Friend the Member for Hereford and South Herefordshire (Jesse Norman) has come forward with such examples. I therefore look forward to hearing from the hon. Gentleman.

[Steve Rotheram (Liverpool, Walton) (Lab)]

14. What recent assessment he has made of the progress of the work of the Independent Commission on Banking.

[The Financial Secretary to the Treasury (Mr Mark Hoban)]

The Government set up the Independent Commission on Banking to consider reforms to the banking sector. We welcome the progress that the commission has made, and look forward to receiving its report in September 2011.

[Steve Rotheram]

If the banking commission recommends breaking up the big banks, will the Government judge the Vickers report on its own merits, or will they put the value of their shareholding in the nationalised banks first?

[Mr Hoban]

The commission that has been set up is independent. It is looking at the structure of banking in the UK, and its impact on the wider economy and competition, and we await the outcome of its findings later this year.