Banking (Special Provisions) Bill

I am very sorry if I used the word ““misleading”” in relation to the speech by the hon. Member for Twickenham and of course I withdraw the remark. I have followed the Opposition most of the evening. They have consistently refused to look any of the arguments in the face when responding to the Chief Secretary. What they are showing is a total misunderstanding of any kind of use of special purpose vehicles in the City of London and any concept of global securitisation. They read the Financial Times, and I can tell them that the City of London will be very disconcerted by their lack of knowledge about what actually happens in the City.