Financial Markets

I congratulate my right hon. Friend on the prompt action that he took following the collapse of Northern Rock, in passing the Banking (Special Provisions) Act 2008. That gave him the powers that have enabled him to introduce this rescue package for the banks. I wonder what has given him the greatest sense of relief: the fact that the House passed that legislation in the face of opposition from the Conservatives, or the respect and support that he has received from the Leader of the Opposition and his shadow Chancellor.