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Banking Reform

Part of Business of the House – in the House of Commons at 1:18 pm on 17th June 2010.

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Photo of Andrew Tyrie Andrew Tyrie Chair, Treasury Committee 1:18 pm, 17th June 2010

Is it not clear that if public money is to be put at risk during a financial crisis, the only person with the moral authority to take a decision will be the Chancellor of the Exchequer? Surely the Chancellor of the Exchequer should therefore have the power to assume the chairmanship of the Financial Policy Committee during a crisis. Will my hon. Friend confirm that that will be possible under the legislation that will be brought before the House?

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