Banking: Regulation Debate

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Department: HM Treasury

Banking: Regulation

Lord Hill of Oareford Excerpts
Thursday 11th July 2013

(10 years, 10 months ago)

Lords Chamber
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Baroness Kramer Portrait Baroness Kramer
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My Lords, while it is absolutely true that—

Lord Hill of Oareford Portrait The Chancellor of the Duchy of Lancaster (Lord Hill of Oareford)
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Forgive me. If we could hear from the noble Lord, Lord Pearson, then we will hear from my noble friend Lady Kramer.

Lord Pearson of Rannoch Portrait Lord Pearson of Rannoch
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My Lords, is the Minister aware that his answer to the noble Lord, Lord Lawson, does not quite stack up in view of Written Answers from the previous Government on 21 July 2009, at col. 365 of the Official Report, which confirmed that they had passed overall supervision of our banks and financial institutions to Brussels? Given that the EU has not had its own accounts signed off for 17 years, and given that it deeply dislikes the City of London, was this wise and how do we get out of it?