Opposition Day — [17th Allotted Day] — Banking

Part of the debate – in the House of Commons at 1:21 pm on 15th January 2014.

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Photo of Sajid Javid Sajid Javid The Financial Secretary to the Treasury 1:21 pm, 15th January 2014

My hon. Friend is right. It is reported that, this Friday, the Leader of the Opposition will make a speech on the economy and attempt to set out an economic policy. I am afraid that his last such speech did not go very well. From what we know about this proposal—very little at this stage—I am not aware of any country in the developed world that has a similar approach, with the possible exception of the former Soviet Union, which adopted a similar approach to its banking sector.