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

That is exactly what we have not done. We have accepted the central recommendations of the Vickers commission.

We have not just been working to prevent a repeat of the crisis. Many Members on both sides of the House have been rightly appalled by the revelations of poor behaviour on the part of some in the industry, such as payment protection insurance, interest rate swap mis-selling, and LIBOR manipulation. Those practices were going on right under the noses of Labour Treasury Ministers, including the current shadow Chancellor, who did nothing at all to stop it.