Tony Baldry
Main Page: Tony Baldry (Conservative - Banbury)Department Debates - View all Tony Baldry's debates with the HM Treasury
(13 years, 4 months ago)
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Mr Osborne
The hon. Gentleman was, I believe, a Minister in the Labour Government. In the first year of this Government we are seeking lower bonuses than were paid in the last year of the Labour Government. Perhaps he will explain that to his constituents.
Tony Baldry (Banbury) (Con)
Will my right hon. Friend give the House an indication of the time scale within which he expects the banks—particularly those such as RBS, in which the taxpayer has a substantial shareholding—to make proposals on how they will increase responsible lending, on reasonable terms, to small and medium-sized businesses in my constituency and the constituencies of right hon. and hon. Members across the House?
Mr Osborne
The discussions are taking place now. In the next couple of weeks, I expect to be able to come back to the House with the conclusions of those discussions. The pay packages and bonuses for UK banks will be announced either right at the end of January or in early February; those for American banks will be slightly earlier.