Oral Answers to Questions

Stephen Metcalfe Excerpts

Tuesday 29th November 2011 Commons Chamber

[Mr Hague]

The measures apply to the UK financial sector—to credit and financial institutions here in the United Kingdom. They do not, therefore, apply to foreign banks that happen to operate in the United Kingdom. Of course, the necessary defining measures will set that out in detail. The sanctions will be quite far-reaching, particularly as we are joining the United States and Canada in the measures, and I expect other countries to join in as well.

[Stephen Metcalfe (South Basildon and East Thurrock) (Con)]

T2. Does my right hon. Friend agree that the European Union has centralised too much power, and that it should be one of the Government’s stated aims to return powers and competences to London from Brussels as soon as possible?

[Mr Hague]

Certainly, it is true that the European Union has not only too much centralised power but too much power in total, in my view. As my hon. Friend knows, I have long stated that I wish to see the repatriation of powers to the United Kingdom.