The amendments remove from the Bill the clauses relating to the council for financial stability—that is, clauses 1 to 4—and the reference to those clauses in clause 38. As my noble Friend Lord Myners set out in another place yesterday and again this morning, given the limited amount of time...

The amendments remove from the Bill the clauses relating to the council for financial stability—that is, clauses 1 to 4—and the reference to those clauses in clause 38. As my noble Friend Lord Myners set out in another place yesterday and again this morning, given the limited amount of time...

Of course, the Opposition agree with the amendments. We argued from the start of proceedings on the Bill that the council for financial stability was a cosmetic reform, not the fundamental structural reforms that we felt were needed to reflect the lessons of the financial crisis. The fiction the Government...

Of course, the Opposition agree with the amendments. We argued from the start of proceedings on the Bill that the council for financial stability was a cosmetic reform, not the fundamental structural reforms that we felt were needed to reflect the lessons of the financial crisis. The fiction the Government...

I welcome the Opposition's support for the amendments. I am not surprised by it, given that the deal has been agreed. We still believe strongly that the council for financial stability is an important and necessary addition to financial regulation in this country, but given where we stand today, I...

I welcome the Opposition's support for the amendments. I am not surprised by it, given that the deal has been agreed. We still believe strongly that the council for financial stability is an important and necessary addition to financial regulation in this country, but given where we stand today, I...

I beg to move, that the House agrees with Lords amendment 1.

I beg to move, that the House agrees with Lords amendment 1.

I shall not detain the House for more than a few moments. I listened carefully to the shadow Minister's speech and, although I am open to correction, I do not think that he made much reference to clause 8, which is struck out by the Lords amendments. I am extremely...

I shall not detain the House for more than a few moments. I listened carefully to the shadow Minister's speech and, although I am open to correction, I do not think that he made much reference to clause 8, which is struck out by the Lords amendments. I am extremely...

I heard the hon. Gentleman mention that yesterday, but I have not had time to check it out, so I must pass on answering that question. On the general point, however, I do not believe that the Government's financial interventions to recapitalise the banks and the Bank of England's action...

I heard the hon. Gentleman mention that yesterday, but I have not had time to check it out, so I must pass on answering that question. On the general point, however, I do not believe that the Government's financial interventions to recapitalise the banks and the Bank of England's action...

I welcome the amendments and the way in which the Minister has responded to the concerns that have been expressed during the scrutiny in this place and the other place. He highlighted amendment 24, for which I am grateful. One of the concerns that we had was that consumers did...

I welcome the amendments and the way in which the Minister has responded to the concerns that have been expressed during the scrutiny in this place and the other place. He highlighted amendment 24, for which I am grateful. One of the concerns that we had was that consumers did...

I am grateful to the hon. Gentleman for giving way to probably the final intervention that he will take in this House. In the absence of this power, the FSA is still engaged in debate in the European Union and with the European Commission on technical issues to do with...

I am grateful to the hon. Gentleman for giving way to probably the final intervention that he will take in this House. In the absence of this power, the FSA is still engaged in debate in the European Union and with the European Commission on technical issues to do with...

I beg to move, that this House agrees with Lords amendment 5.

I beg to move, that this House agrees with Lords amendment 5.

As I mentioned a minute ago, as a result of discussions with the official Opposition via the usual channels, the second group of amendments will remove clause 8, which would provide for a new statutory duty imposed on the FSA to promote international regulation and supervision, and clauses 18 to...

As I mentioned a minute ago, as a result of discussions with the official Opposition via the usual channels, the second group of amendments will remove clause 8, which would provide for a new statutory duty imposed on the FSA to promote international regulation and supervision, and clauses 18 to...

Does the Minister accept that, in the financial risk outlook recently published by the Financial Services Authority, the FSA made it clear that, for the taxpayer, many tens of billions of pounds—a substantial proportion of what was provided—would be at risk, notwithstanding any proposed repayment of the loans by the...

Does the Minister accept that, in the financial risk outlook recently published by the Financial Services Authority, the FSA made it clear that, for the taxpayer, many tens of billions of pounds—a substantial proportion of what was provided—would be at risk, notwithstanding any proposed repayment of the loans by the...

I am pleased that I gave way, because that demonstrates the laid-back attitude of the Conservatives to this issue. Of course, the FSA has been acting in the way that the hon. Gentleman describes, but clause 8 places a duty on it. It reinforces its power. It sends messages abroad....

I am pleased that I gave way, because that demonstrates the laid-back attitude of the Conservatives to this issue. Of course, the FSA has been acting in the way that the hon. Gentleman describes, but clause 8 places a duty on it. It reinforces its power. It sends messages abroad....

I want to speak briefly on clause 6. Nothing is more important than that people understand exactly, as it says in the amendment,""the desirability of enhancing the understanding and knowledge of members of the public of financial matters (including the UK financial system),"" and for a very good reason. People...

I want to speak briefly on clause 6. Nothing is more important than that people understand exactly, as it says in the amendment,""the desirability of enhancing the understanding and knowledge of members of the public of financial matters (including the UK financial system),"" and for a very good reason. People...

My accusation stands, and I shall be interested to hear what the Minister says in reply.

My accusation stands, and I shall be interested to hear what the Minister says in reply.

I shall briefly respond to the points that have been made during this debate. I agree with my hon. Friend the Member for Thurrock (Andrew Mackinlay) about clause 8 and disagree with the hon. Member for Stone (Mr. Cash) and his comments on it. I agree that dropping the clause...

I shall briefly respond to the points that have been made during this debate. I agree with my hon. Friend the Member for Thurrock (Andrew Mackinlay) about clause 8 and disagree with the hon. Member for Stone (Mr. Cash) and his comments on it. I agree that dropping the clause...

I am glad to hear the right hon. Gentleman say that. I am delighted, because all it does is demonstrate the absurdity of his position. He cannot tell that the people of this country are seriously affected. It may be very late in the day, and we may be right...

I am glad to hear the right hon. Gentleman say that. I am delighted, because all it does is demonstrate the absurdity of his position. He cannot tell that the people of this country are seriously affected. It may be very late in the day, and we may be right...

I'm laughing at you.

I'm laughing at you.

Only to say that I am not sure why the hon. Gentleman has reached that conclusion. I am not aware that we have sought in any way to block that amendment.

Only to say that I am not sure why the hon. Gentleman has reached that conclusion. I am not aware that we have sought in any way to block that amendment.

I rise to support the remarks made by the hon. Member for Fareham (Mr. Hoban). At one stage, many of us thought that the Bill might never come back here at all. Considerable work has been done on it by a lot of people and it includes some important aspects...

I rise to support the remarks made by the hon. Member for Fareham (Mr. Hoban). At one stage, many of us thought that the Bill might never come back here at all. Considerable work has been done on it by a lot of people and it includes some important aspects...

Financial Services Bill. Consideration of Lords amendments. Agreed on question with Commons financial privileges waived in respect of Lords amendments 45 to 48.

Financial Services Bill. Consideration of Lords amendments. Agreed on question with Commons financial privileges waived in respect of Lords amendments 45 to 48.