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Financial Markets

Volume 487: debated on Thursday 12 February 2009

14. To ask the Chancellor of the Exchequer what recent representations he has received on the effects on financial markets of media reporting on those markets. (256295)

The Chancellor receives representations from a wide range of stakeholders on issues relating to financial markets issues.

In October 2008 the Government announced a comprehensive package of support for the financial system both to support the stability of the banking system and to protect savers and depositors. On 19 January the Government announced a second support package designed to reinforce the stability of the financial system and provide a longer-term solution.

I follow media reporting on the markets with interest. It is routinely of a high quality. I hope all commentators, whether from the financial markets or from the general media, will continue to report responsibly, and bear in mind that unsubstantiated speculation has the potential to undermine financial stability and harm savers and depositors.