The Economy

I am following what the hon. Gentleman is saying with great interest, and I agree with much of it. Anatole Kaletsky, writing two or three weeks ago in The Times, suggested that if we completely nationalised RBS and it became a state bank, others would quickly follow, dominoes would fall all over the world and we would very quickly have a world where the banks controlled public investment. Publicly owned banks and state banks would run the economies of the world. I would welcome that, personally, because I am a socialist. Other people might not. Does the hon. Gentleman think that Anatole Kaletsky's concerns are valid?