Financial Services Bill

To take the Chancellor back to my experiences in 1997, I was in business, and my bankers at the time were at the Royal Bank of Scotland. Shortly after the general election in which the Labour Government were elected, I had a meeting with my bankers. I expressed my disappointment at the election result, but they were extremely upbeat. I asked them why, and they said, ““Labour Governments are never any good at regulating the financial services industry. We're going to make a lot of money in the banking industry.”” Are not those words prophetic?