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Why Not Question Darling On Bank Crisis


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Following the unprecedented financial intervention announced by the Chancellor over recent days, the Treasury Committee today announces it will undertake an urgent inquiry into the banking crisis.

John McFall, Chairman of the Committee said:

“This inquiry will take a fundamental look at the causes of the present banking crisis, the current responsibilities of the banks and the Government to the taxpayer, and the future shape of the financial and regulatory landscape.”

Given the public concern about the stability of the UK banking system and commitment of such a large sum inherent in the Chancellor’s proposals, the Committee is asking members of the public to send in questions they would like to see put to the following witnesses, who the Committee has invited to appear as soon as possible.


The Rt. Hon. Alistair Darling MP, Chancellor of the Exchequer

Mervyn King, Governor of the Bank of England

Lord Adair Turner, Chairman, Financial Services Authority

Questions should be emailed to the following address:

[email protected]

The date of the hearing will be announced in due course.

John McFall, Chairman of the Committee said:

“Taxpayers are naturally very concerned about the scale of this investment. The Committee hopes that by providing people with the chance to have us put their questions to those in charge, we can provide a constructive way of engaging the public on a matter of such deep concern to the whole country.”


Questions can be submitted up to 48 hours before the hearing, which will be announced at a later date. The Committee regrets it cannot accept any other form of submission apart from email to the following address:

[email protected]

Submissions should take the form of questions rather than statements and should be no longer than 100 words. If you wish to remain anonymous, please state clearly at the beginning of the email.

The Committee regrets that not all questions submitted can be guaranteed to be asked.

Full written submissions of evidence for the inquiry will be solicited at a later date.

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fwiw have asked these questions

Easy credit availability and lax lending leading to a mountain of debt created the problem. How is throwing more money and further debt going to solve the problem ?

Why should the UK continue a low interest rate regime when the prime need is to encourage prudency and savings ? A low rate of interest does not reward savers.

The average house price is more than 6 times the average wage. Historically house prices have been about 3.5 times the average wage. Why are the govt committed to holding up unsustainable house prices ?

Low house prices will mean that people have even more money to spend on the rest of the ''real' economy. Why doesnt the govt therefore support a return to sensible house prices? This will also mean that the existing money in the system can fund a greater number of mortgages and businesses.

Given that House price inflation has been at the root of the current crisis, what steps will be taken to discourage speculation in property in the future ?

Given that every MP has a second home, how will a return to sensible house prices and lending be supported since every MP has a vested interest in ENSURING massive house price inflation ?

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