Tax Avoidance (HSBC)

Part of Oral Answers to Questions — Home Department – in the House of Commons at 3:34 pm on 9th February 2015.

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Photo of Mark Garnier Mark Garnier Conservative, Wyre Forest 3:34 pm, 9th February 2015

The Parliamentary Commission on Banking Standards spent the thick end of 18 months looking into the activities and standards of banks, as well as the abject failure of regulation under the Financial Services and Markets Act 2000. Does my hon. Friend agree that had the system in its report, which resulted in the Financial Services (Banking Reform) Act 2013, been in place, this would not have happened in the first place?