I am following my hon. Friend's argument with considerable interest. Is she aware that a constituent of mine has been told that even when the Bill becomes law, as I am sure it will, the banks will still be asking for 100 per cent. guarantees from their clients? There will effectively be a double guarantee, one from the Government and one from the company. Sometimes, particularly given the economy's current condition, companies are unable to give such a guarantee, in which case the Bill will be worthless. The Minister is looking even more blank that he usually does, if I may say so, but I hope that he will be able to correct me and say that some imposition will be made on banks, particularly state-owned banks, to prevent them from asking for such a guarantee.
Industry and Exports (Financial Support) Bill
Proceeding contribution from
Michael Fabricant
(Conservative)
in the House of Commons on Monday, 16 March 2009.
It occurred during Debate on bills on Industry and Exports (Financial Support) Bill.
Type
Proceeding contribution
Reference
489 c685 
Session
2008-09
Chamber / Committee
House of Commons chamber
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2024-04-21 10:11:27 +0100
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