Graham Stuart

Graham Stuart

Conservative — Beverley and Holderness

Speaking in the House of Commons on 10 November 2026

Debate

Financial Services and Markets Bill [Lords]

Contribution

I am grateful to the Chancellor, who is being typically generous. On the subject of lending, he will be aware that the doubling of the bank tax, which was red meat for his Back Benchers, will raise £1.5 billion in just 15 months. The regulatory rules suggest that that could reduce the lending pot by a maximum of perhaps £25 billion. Is it not fair to say that that dwarfs any of the benefits of this Bill? My final question is, can he commit that it will be 15 months and 15 months only before this credit-reducing measure is brought back again?

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