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Banks: Regulation

Volume 486: debated on Tuesday 13 January 2009

To ask the Chancellor of the Exchequer what discussions he has had with ministerial colleagues on requirements on banks whose shares are in public ownership to support small businesses. (242346)

[holding answer 11 December 2008]: Treasury Ministers and officials have meetings and discussions with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. As was the case with previous Administrations, it is not the Government's practice to provide details of all such meetings and discussions.

To ask the Chancellor of the Exchequer if he will require those banks in receipt of public money to increase liquidity to include representatives of the banking trades unions on their remuneration committees. (244302)

UK Financial Investments Limited (UKFI), which is wholly owned by the Government, will oversee the conditions attached to subscribing to the Government's recapitalisation fund, including in relation to remuneration policies of banks board directors.

To ask the Chancellor of the Exchequer what recent steps the Government has taken to reform regulation of the financial markets. (245469)

I refer the hon. Member to the statement on financial markets made by my right hon. Friend the Chancellor of the Exchequer on 6 October 2008, Official Report, columns 22-23, which announced that Adair Turner, the Chairman of the FSA, had been asked to make recommendations for reforms.