Stewart Hosie
Main Page: Stewart Hosie (Scottish National Party - Dundee East)Department Debates - View all Stewart Hosie's debates with the HM Treasury
(11 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
My right hon. Friend makes a forceful point. The legislation is about the future. It is quite right that it should proceed with consideration and that we should not introduce things that might have unintended consequences without adequate consideration in this House. The Government are obviously the major shareholder in RBS. It is important that RBS should be returned as swiftly as possible to private hands. The current situation is far from ideal, and I know that my right hon. Friend shares our ambition on that.
Stewart Hosie (Dundee East) (SNP)
It is right that the taxpayer should never again be on the hook for the bad decisions taken by investment banks or the bad regulation that allowed them to be taken. I therefore welcome the ring-fencing and the provision to separate a given bank if necessary. However, I am not yet convinced of the need for the reserve power to separate any bank. Does the Minister envisage any circumstances under which the Government might include the reserve provision to separate a bank in this or future legislation?