Financial Services Bill

I think the key word is ““effective””, which is clearly what was lacking. If the right hon. Gentleman wants me to read out the legion quotes that we have from him as City Minister, how about this one? He said:"““I believe that we are right to avoid prescriptive, heavy-handed regulation in Britain. Indeed, I believe that while it is Bank of England independence that is regularly cited as the Government's most significant financial reform, the establishment of the FSA has been as important for Britain””," and that"““It is important the FSA continues to deliver a light-touch and risk-based regulatory approach.””" We have ended up having a ding-dong across the Dispatch Box, but if he is against what we propose to do to change the system he created, will he vote against the Bill tonight?