Financial Services: EU Action

Mr. Cash
To ask the Chancellor of the Exchequer whether the proposals in the European Commission’s Communication for the Spring European Council, COM(09)114, providing for EU-wide supervision over banks and financial services will be brought forward as legislative proposals to which qualified majority voting will apply; and what the legal basis for each proposal will be.

Ian Pearson
The Commission communication does not include detail of any legislative proposal, or such a proposal’s possible legal base.

Mr. Cash
To ask the Chancellor of the Exchequer if he will place in the Library a copy of his letter of 3 March 2009 to other EU Finance Ministers and the Commission on EU-wide supervision of financial services and banking.

Ian Pearson
I have deposited a copy of the Chancellor’s letter in the Library of the House of Commons.