TOPICAL DEBATE Financial Stability

Part of Business of the House – in the House of Commons at 12:23 pm on 9th October 2008.

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Photo of Stuart Bell Stuart Bell Second Church Estates Commissioner 12:23 pm, 9th October 2008

I hesitate to interrupt my right hon. Friend's flow, but it had already been interrupted.

Not enough is being made of the fact that there will be strict controls through the Financial Services Authority on compensation packages for the executive directors of these various banks. Let me remind the Financial Secretary of what the Chancellor said:

"In reaching agreement on capital investment the Government will need to take into account dividend policies and executive compensation practices and will require full commitment to support lending to small businesses and home buyers."

Can the Financial Secretary repeat that today, because it is being overlooked in the outside world, where there seems to be a view that we are going to skate away from these so-called golden parachutes?

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