Financial Services Bill

I agree with what the Chancellor says, broadly, about the practical application. However, in what he said to my hon. Friend the Member for Tatton (Mr. Osborne) he recognised that there is a fundamental difference in the outlook of the Labour party and that of the Conservative party. Is he not concerned that the increase in the FSA's powers proposed in the Bill comes at a rather strange time, given my party's commitment to get rid of it? How will we able to employ the brightest and the best to take on these new powers if the sword of Damocles will be hanging over the FSA in the—probable, I hope—event that we have a Conservative Administration before too long?