Clause 2
Banking Bill
11:30 am
John Pugh (Shadow Minister, Treasury; Southport, Liberal Democrat)
I should like move to a wider point. There used to be a well honoured distinction between retail banking and investment banking, but that has now completely gone in legislation. May I probe the Minister a little? Has any thought been given by the Treasury to reinstituting such a distinction in terms of which regulations may apply to which type of institution? Over time such distinctions become almost meaningless, but that is part of the problem.