Community Banks

Part of BBC – in Westminster Hall at 12:19 pm on 10th July 2012.

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Photo of John Stevenson John Stevenson Conservative, Carlisle 12:19 pm, 10th July 2012

I am grateful to my hon. Friend for giving way and indeed for securing this very important debate. Does he agree that what we need in the UK is a two-tier banking system? We need the large banks nationally, but we also need—as he is suggesting—smaller banks operating at a local level. Having a two-tier system would be beneficial to our economy overall.