Opposition Day — [17th Allotted Day] — Banking

Part of the debate – in the House of Commons at 12:47 pm on 15th January 2014.

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Photo of Jesse Norman Jesse Norman Conservative, Hereford and South Herefordshire 12:47 pm, 15th January 2014

Perhaps the hon. Gentleman could update the House later on what cap on bonuses was set by the previous Prime Minister, or the one before that. Does he not accept that the past few years, as he has just demonstrated with his recitation of scandals, was a period of the most lax supervision? It was under the previous Government that the Bank of England allowed these dreadful evils to take place. That is why it has made such a difference introducing the new senior persons regime, the new authorised persons regime and all the other changes, as well as the new definition of competition in legislation.