"I rise to put two points to the House. First, I object to the statutory instrument on a matter of principle, which I will outline. Secondly, I want to ask the Minister why he included residential property among the first prudential tools. Some of the tools make sense—including commercial, and, …..." George Mudie - View Speech
"I see the Minister nodding. I am sure that he will explain, but that is the sort of thing I am talking about. If the loan-to-value ratio had been in this statutory instrument—if the interim FPC had stuck at it—I think this place would have been full and the Minister …..." George Mudie - View Speech
"As a member of the Treasury Committee, I hear it said all the time that we have the ability to scrutinise, and that people are accountable to us. That carries little weight with me; it does not impress me. This is ultimately a question of who takes the decisions when …..." George Mudie - View Speech
"The Minister has referred to a need for cultural change. One culture that it is necessary to change is the banks’ unwillingness to lend to small businesses. The Secretary of State for Business, Innovation and Skills has spoken today about RBS and the lack of lending to small businesses, even …..." George Mudie - View Speech
"Does my hon. Friend agree that closing offices is a false and unfair economy, because it limits the opportunity for face-to-face discussion in settling complex tax matters, which now have to be decided by either calling a call centre, going online or writing?..." George Mudie - View Speech
"I congratulate my hon. Friend the Member for Hayes and Harlington (John McDonnell) on securing this important debate. I want to start by asking why it is necessary to deal with some of the problems. In an age of austerity, particularly, every pound matters and every pound not collected means …..." George Mudie - View Speech
"The situation with mortgages will be similar. I am certain that the FSA’s and the Bank’s insistence on a higher deposit will harm the construction industry. The average price of a two or three-bedroom house is £160,000, and 10% of that is £16,000 and 20% £32,000. We are getting more …..." George Mudie - View Speech
"That should be qualified by the fact that the current Governor of the Bank of England does not want to be second-guessed by anyone. In fact, he would suggest that the best decision-making process is himself sitting in a room taking the decisions, questioned by no one...." George Mudie - View Speech
"Both the Treasury Committee and the Joint Committee on the draft Financial Services Bill were concerned about the important parts of the Bill that will be delivered through statutory instruments. That means a discussion in Committee for an hour and a half, with no provision for amendment. We would either …..." George Mudie - View Speech