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

Part of the debate – in the House of Lords at 9:15 pm on 15 March 2010.

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Photo of Lord Hodgson of Astley Abbotts Lord Hodgson of Astley Abbotts Conservative 9:15, 15 March 2010

My Lords, I cannot see how the Government can reasonably resist this amendment. Either we will have a position where the Treasury is calling the shots all the time or we will have a tripartite co-ordinating structure, which I think is the Minister's plan. He keeps telling us that the council has no Executive responsibility and is a co-ordinating body. The authority does not have to consult the other two members; only one of the other two members is consulted. Surely the very essence of the co-ordination that the Minister has in mind should require all three parties to dance at the same time.