Mr. Gareth R. ThomasTo ask the Chancellor of the Exchequer what action he will take to ensure disclosure by the banking sector of their lending patterns in under-invested communities; and if he will make a statement. [8262]
§ Ruth KellyIn the November 2000 Pre-Budget Report and the Budget 2001 the Government stated that they were encouraging banks to disclose details of their individual lending activities in disadvantaged communities on a voluntary basis, and that this improved flow of information should help to identify barriers to and opportunities for growth. The Government also said that they would look at the obligations on banks in the contents of requirements placed on the sector more widely.