Financial Market Instability
Brooks Newmark asks why, when there is an ongoing consultation over the £35,000 depositor guarantee, did the Chancellor speak to a national newspaper about a £100,000 guarantee?
Mr. Brooks Newmark (Braintree) (Con): As a Newcastle United fan, I think I should declare an interest. I appreciate that there is a consultation process going on over the £35,000 depositor guarantee, but why did the Chancellor speak to a national newspaper about a £100,000 guarantee? Surely that undermines his own consultation process.
Mr. Darling: It is not unusual for Chancellors, Ministers or indeed Opposition spokespeople to give interviews to newspapers. I said earlier that I would publish my consultation, which I do not want to pre-empt. It is important that people have the opportunity to put forward their views, which the Government will then consider with a view to early legislation.
