Independent Banking Commission Report

Part of Oral Answers to Questions — Home Department – in the House of Commons at 3:35 pm on 12th September 2011.

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Photo of Nick Brown Nick Brown Labour, Newcastle upon Tyne East 3:35 pm, 12th September 2011

What reassurance can the Chancellor give the House that the ring-fencing will be effective at the time when it is most likely to be tested—namely, in the run-up to another debt or liquidity crisis? I listened to his earlier answer about the investment banks putting money into the high street banks, and about that being an advantage for the proposals for ring-fencing, but I have to tell him that I do not find that wholly convincing. If the idea is to get support, he has to be able to explain to the House how this proposal will work when it is required to do so.