§ Mr. SproatTo ask the Chancellor of the Exchequer if he will list the main measures of deregulation, or simplification of regulation, which his Departments have carried out, or caused to be carried out, since 9 April.
§ Mr. DorrellThe Government have laid draft regulations under section 2(2) of the European Communities Act before Parliament on 17 November in order to implement the second banking co-ordination and consolidated supervision directives. Although these measures are long and complex, and amend a number of Acts, they implement two measures that are central to a single market in banking. This will allow EC credit institutions—broadly speaking, banks and building societies—to offer banking services throughout the Community on the basis of a single authorisation under the prudential supervision of a single supervisor.
§ Mr. SproatTo ask the Chancellor of the Exchequer which Minister in his Department is responsible for the oversight of deregulation of regulatory matters which fall within the responsibility of his Department.
§ Mr. DorrellI am responsible to the Chancellor for such matters.