Statement on measures to restore confidence in the banking system
Financial Stability
Ministerial statement on Wednesday, 8 October 2008,
in the House of Commons,
led by Lord Darling of Roulanish.
Type
Parliamentary proceeding
Reference
480 c277-94 
Session
2007-08
Chamber / Committee
House of Commons chamber
Proceeding contributions
Lord Darling of Roulanish | 480 c277-80 (Link to this contribution)
With permission, Mr. Speaker, I shall make a statement on the proposals that I announced this mornin...
George Osborne | 480 c280-1 (Link to this contribution)
I am grateful to the Chancellor not just for his statement, but for discussing it with me this morni...
Show all contributions (61)
Michael Meacher | 480 c285 (Link to this contribution)
If £250 billion has been pre-emptively committed to securing the banks, for reasons that we all unde...
Lord Darling of Roulanish | 480 c284-5 (Link to this contribution)
Again, I am grateful to the hon. Gentleman for what he has said. I am very glad that he has welcomed...
Lord Darling of Roulanish | 480 c285 (Link to this contribution)
I am glad that my right hon. Friend agrees that we need to support the banking system. I refer him t...
Stuart Bell | 480 c283 (Link to this contribution)
I refer to the point made by the Prime Minister that the media have not yet homed in on the Governme...
Lord Darling of Roulanish | 480 c281-3 (Link to this contribution)
I am grateful to the hon. Gentleman for his support. I am glad that I had the opportunity to speak t...
Vincent Cable | 480 c283-4 (Link to this contribution)
My colleague and party leader has already made it very clear that we support these measures as being...
Lord Darling of Roulanish | 480 c283 (Link to this contribution)
I agree with my hon. Friend. I think that everyone in the House would acknowledge that all of us—whe...
Lord Darling of Roulanish | 480 c286 (Link to this contribution)
My hon. Friend raises a valid point. Memories can be short. In another 15 years, when there is anoth...
Chris Mullin | 480 c285-6 (Link to this contribution)
I am sure that my right hon. Friend shares the joy of the whole House that the shadow Chancellor has...
Lord Darling of Roulanish | 480 c285 (Link to this contribution)
No, I do not agree with the underlying premise of the right hon. and learned Gentleman's question. S...
George Galloway | 480 c286 (Link to this contribution)
Oh yes you did!
George Galloway | 480 c286 (Link to this contribution)
When the Liberals sound like Labour and the Conservatives like communists, the kaleidoscope has defi...
Lord Darling of Roulanish | 480 c286 (Link to this contribution)
I am grateful to the hon. Gentleman for his unaccustomed support for our position. I shall make the ...
Lord Darling of Roulanish | 480 c287 (Link to this contribution)
I expect that the Treasury Committee, with good reason, probably believes that is one of the things ...
John Greenway | 480 c287 (Link to this contribution)
The Chancellor referred to the regulation of the Financial Services Authority. Another feature I sho...
Gordon Prentice | 480 c287 (Link to this contribution)
Given that we are compensating people who lost money in the Icelandic banks, does the Chancellor agr...
Lord Darling of Roulanish | 480 c287 (Link to this contribution)
I am sure that many, if not most, people in this country agree with those sentiments.
Stewart Hosie | 480 c287-8 (Link to this contribution)
I thank the Chancellor for advance notice of his statement. I very much welcome it because it is sys...
Lord Darling of Roulanish | 480 c287 (Link to this contribution)
The reason for my decision in relation to the Icelandic banks is the systemic problems that we now f...
Lord Darling of Roulanish | 480 c288 (Link to this contribution)
I am grateful to the hon. Gentleman for his comments on Icesave and what I said about the retail dep...
Joan Ryan | 480 c288 (Link to this contribution)
I welcome the package of proposals and the decisive action announced by the Prime Minister and the C...
Lord Darling of Roulanish | 480 c288 (Link to this contribution)
My right hon. Friend is absolutely right: we should all remember that, at the end of the day, we are...
Baroness Browning | 480 c288 (Link to this contribution)
I welcome what the Chancellor said about Icesave today. A recently retired couple in my constituency...
Lord Darling of Roulanish | 480 c289 (Link to this contribution)
I was going to say, in the nicest possible way, that my hon. Friend sounds like a new Conservative, ...
Colin Burgon | 480 c289 (Link to this contribution)
Will the Chancellor put my fears to rest? I see the market putting its invisible hand into the pocke...
Lord Darling of Roulanish | 480 c289 (Link to this contribution)
I cannot give the hon. Gentleman any undertakings on that today, but I will raise the matter with th...
John Hemming | 480 c289 (Link to this contribution)
The Chancellor will be aware that the tier 1 and tier 2 capital ratios are a better indicator of a b...
Lord Darling of Roulanish | 480 c289 (Link to this contribution)
The steps that we have taken today are important, but I would say to the House that they are part of...
Phil Wilson | 480 c289 (Link to this contribution)
Does my right hon. Friend agree that the financial support for banks that he has announced today is ...
Geoffrey Robinson | 480 c290 (Link to this contribution)
I congratulate my right hon. Friend on his comprehensive and substantial set of proposals to restore...
Lord Darling of Roulanish | 480 c290 (Link to this contribution)
Again, I am grateful to my hon. Friend for his support, and I agree with him about the decision take...
Lord Tyrie | 480 c289;480 c289-90 (Link to this contribution)
I am glad that the Government have finally acted to recapitalise the banks. Of course, the litmus te...
Lord Darling of Roulanish | 480 c290 (Link to this contribution)
The hon. Gentleman knows very well that there is a lot of uncertainty in the market at present, but ...
Lord Darling of Roulanish | 480 c292 (Link to this contribution)
I agree with my hon. Friend. As she rightly says, there are many companies that do not depend on the...
Claire Curtis-Thomas | 480 c291-2 (Link to this contribution)
I very much welcome what my right hon. Friend said about supporting small businesses, and I particul...
Lord Darling of Roulanish | 480 c291 (Link to this contribution)
As I indicated earlier, a lot of the money that we have been discussing today is money that the Gove...
Lord Dodds of Duncairn | 480 c291 (Link to this contribution)
Along with everything else, people are worried about their savings, pensions, mortgages and jobs; th...
Lord Darling of Roulanish | 480 c292 (Link to this contribution)
The point that I was making is that there is a distinction between the ordinary man or woman on the ...
Lord Pickles | 480 c292 (Link to this contribution)
The Chancellor rightly wants to protect hard-working taxpayers, but some of those taxpayers also pay...
Lord Darling of Roulanish | 480 c291 (Link to this contribution)
My hon. Friend is right to say that the action that we took on Northern Rock is now seen as having b...
Roberta Blackman-Woods | 480 c291 (Link to this contribution)
I, too, welcome the Chancellor's statement, and particularly his point about Northern Rock. Many of ...
Lord Darling of Roulanish | 480 c290;480 c290-1 (Link to this contribution)
I am not aware of central banks blocking lending. I am aware that some people in this country have e...
Lord Swire | 480 c290 (Link to this contribution)
Many smaller companies, particularly those trading in the emerging markets, are reliant on central b...
Speaker | 480 c294 (Link to this contribution)
Order. We come now to the ten-minute rule motion.
Bernard Jenkin | 480 c294 (Link to this contribution)
May I assure the Chancellor of the Exchequer that I was briefed by Irwin Stelzer on the need to reca...
Lord Darling of Roulanish | 480 c294 (Link to this contribution)
As I said earlier, the money will be raised through the Government's normal operations when it needs...
Lord Darling of Roulanish | 480 c292 (Link to this contribution)
I agree that the system needs to be fair and open. My hon. Friend is quite right that people accept ...
Lord Young of Cookham | 480 c292;480 c292-3 (Link to this contribution)
During the recess, the Government waived competition requirements so that Lloyds TSB could proceed w...
Lord Darling of Roulanish | 480 c293 (Link to this contribution)
The decision to merge was taken on a commercial basis by the two companies, Lloyds TSB and HBOS. The...
David S Borrow | 480 c293 (Link to this contribution)
My right hon. Friend referred to the effect on the markets earlier this week of weekend speculation ...
Patrick Hall | 480 c292 (Link to this contribution)
My right hon. Friend will, I am sure, agree that the British people have an excellent track record o...
Lord Darling of Roulanish | 480 c294 (Link to this contribution)
The right hon. and learned Member for Folkestone and Hythe (Mr. Howard) is no longer in his place, b...
Lord Darling of Roulanish | 480 c293 (Link to this contribution)
The Governor of the Bank of England is entitled to meet whomever he thinks appropriate. I am sure th...
Lord Darling of Roulanish | 480 c293-4 (Link to this contribution)
I am not sure whether that was the first discordant voice that we have heard this afternoon, and the...
Chris Ruane | 480 c294 (Link to this contribution)
Has the speculation by the shadow Chancellor about recapitalisation helped the Chancellor or hindere...
Lord Howard of Lympne | 480 c285 (Link to this contribution)
Does the Chancellor accept that yesterday's gyrations in the markets were due in large measure to le...
Mark Durkan | 480 c286-7 (Link to this contribution)
I join other Members in welcoming the Chancellor's statement, the scale of the action the Government...
Lord Darling of Roulanish | 480 c288-9 (Link to this contribution)
The hon. Lady asks a perfectly good question. The financial services compensation scheme, which is t...
Edward Leigh | 480 c293 (Link to this contribution)
Often, the gravest risk to accountability in this House lies when both sides agree; there is sometim...
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Timestamp
2023-12-08 16:23:44 +0000
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