Amendment of the law

My hon. Friend makes an important point. Although there have been some beneficial changes in that situation from the point of view of American banks, is it a matter that affects not only banks, but companies with various financial instruments. Those companies are also having to make balance sheet provisions, which may upset, so to speak, the way that they present their trading circumstances to the wider world when they have to make such accounting provision. What we see is the unwinding of those very difficult positions. Unless banking gets back into good order, we will not see the rate of recovery that the Chancellor hoped for.