Clause 231
Banking Bill
3:30 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
When the Paulson plan was going through the US Congress, I read with considerable amusement about the number of things covered by the plan, including excise duties and the importation of wooden bows and arrows. One assumes that that sort of thing would not happen in the UK, but clauses 231 and 232 seem to have little bearing on a Bill that is designed to increase financial stability in the banking sector. I said in connection with clause 226 that we are encouraging the Bill to go through at speed, because it aims to tackle the current financial crisis, but I wonder what role the “Funds attached rule (Scotland)” and “Financial collateral arrangements” play in supporting progress in the banking sector.