Business of the House

Toby Perkins Excerpts

Thursday 24th May 2012 Commons Chamber

[Sir George Young]

On the latter point, I can, because I was Chairman of the Standards and Privileges Committee, which has taken action against Members who have leaked Select Committee documents. Members have been suspended from the House for doing so. The other issues are more a matter for the House than for the Leader of the House. I am sure that the Chair of the PAC has noted what my hon. Friend has said about the process of instituting a leak inquiry.

[Toby Perkins (Chesterfield) (Lab)]

Members across the House are growing increasingly concerned about the evidence of interest rate swap mis-selling by banks. Members are hearing about firms in their constituencies that are being put out of business because of such hedge fund products. May we have an urgent debate on this issue, and ensure that banks do not foreclose on businesses while investigating whether mis-selling took place only then to have to go back and make compensatory payments after that business has collapsed?

[Sir George Young]

I share the hon. Gentleman’s concern. Earlier this week we had a debate on the Financial Services Bill before it went to the other place, and in the Queen’s Speech there is a commitment to legislate on banking reform, so there may be an opportunity in the near future to address these issues.