Insolvency bill - Conference wasted time

The Government has approved the Personal Insolvency Bill, but it will not be published until next Friday.

Political prudence suggests it was right to consult the banks but there must be no doubt that the Government is leading in the matter and not essentially allowing the banks to have a veto on any aspect of the legislation.

It was largely because banks were allowed to behave recklessly by earlier governments that this country got into the mess it’s in. There must be no suggestion that the Government is now allowing banks to have a veto. That would be morally reprehensible, because it would be a naked betrayal of the election promises of the two governing parties.