Financial Services Bill — Committee (2nd Day) (Continued)

Part of the debate – in the House of Lords at 8:45 pm on 15th March 2010.

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Photo of Lord Howard of Rising Lord Howard of Rising - Shadow Minister (Also Shadow Minister for Treasury and Culture, Media and Sport), Shadow Minister, Shadow Minister (Also Shadow Minister for the Cabinet Office and Treasury), Culture, Media and Sport, - Shadow Minister (Also Shadow Minister for the Cabinet Office and Culture, Media and Sport), Shadow Minister 8:45 pm, 15th March 2010

Many people have voiced their differences on the tripartite government system, and we are all concerned with that. Are not the Government building into this system further potential problems by having different definitions? The Minister explained it by describing what was required of the FSA but I cannot see that by putting in the definition of what the Bank of England has to look at in any way binds or changes what the FSA has to look at. Perhaps the Minister can explain that. He explained it via the FSA but the amendment has to do with the Bank of England.