Bank Lending

Part of Oral Answers to Questions — Treasury – in the House of Commons at 11:30 am on 25th June 2013.

Alert me about debates like this

Photo of Peter Tapsell Peter Tapsell Father of the House of Commons 11:30 am, 25th June 2013

May I say to my right hon. Friend that after a lifetime as a stockbroker and fund manager, my instinct, as bond yields rise all over the world, is that we are heading for another banking crisis that will certainly choke off the already inadequate lending of banks to small businesses? May I put on the record my dismay that he has not yet committed himself to the total separation of investment from commercial banks, which I have been urging on him ever since he became Chancellor? I am absolutely convinced that if we do not go back to something approaching Glass-Steagall, it will be an absolute disaster when the next banking crisis hits us.