Stewart Hosie
Main Page: Stewart Hosie (Scottish National Party - Dundee East)Department Debates - View all Stewart Hosie's debates with the HM Treasury
(13 years, 4 months ago)
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Stewart Hosie (Dundee East) (SNP)
In the real world, jobs are being lost, wages squeezed, and taxes are rising, while businesses cannot get the credit they need and home buyers cannot get the mortgages they want. Does the Chancellor not recognise that that austere backdrop makes the very idea of a £7 billion bonus-pot toxic in the real world? Does he not regret washing his hands of this last night, and, effectively, giving the green light to a return to the bad old days of big bonuses?
Mr Osborne
It is precisely the real-world situation—where businesses need more lending, communities need support and we need more investment in our regional economies—that I am seeking to address. As the hon. Gentleman well knows, as a Member from Scotland, we need a successful, properly regulated financial services sector that employs tens of thousands of people in Scotland and, indeed, hundreds of thousands of people across the United Kingdom. That is what we are seeking to agree with the banking system. The fantasy world is the one that the Labour party occupies, where it bears no responsibility for the mess in which it has left this country.