HC Deb 31 July 1997 vol 299 c447W
Mrs. May

To ask the Chancellor of the Exchequer what progress has been made in discussions with the Bank of England regarding the role of the registrar's department after the change in responsibility for debt management from the Bank of England to the Treasury. [11725]

Mr. Darling

The Treasury and the Bank have agreed that the status of the registrar's department will not be affected by other changes on debt management, and this has been announced to staff. The registrar's department will remain under Bank of England management and continue with the current programming of restructuring. The options over its future will then be reviewed in five years.

Mrs. May

To ask the Chancellor of the Exchequer if the new supervisory body for the financial sector will have responsibility for supervising(a) friendly societies, (b) credit unions and (c) cheque traders. [11731]

Mr. Darling

As my hon. Friend the Economic Secretary announced in a written answer on 23 July,Official Report, column 595, the new regulatory organisation will have responsibility for supervising friendly societies and credit unions. We have no plans at present to extend financial regulation to cheque traders.