Financial Services Bill

Part of Oral Answers to Questions — Home Department – in the House of Commons at 5:48 pm on 6 February 2012.

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Photo of Charlie Elphicke Charlie Elphicke Conservative, Dover 5:48, 6 February 2012

I thank the shadow Chancellor for giving way once more. The Chancellor’s plan is for the financial and prudential regulation buck always to stop with the Bank of England. The shadow Chancellor has concerns about moral hazard on the part of the Governor, which suggests that he is not as strong a fan of the independence of the Bank as he has previously made out. Should we not trust a Governor of the Bank of England to work effectively with the Chancellor?