§ Mrs. LaitTo ask the Secretary of State for Scotland what discussions she has had with the Treasury about the effect on the Scottish financial sector of the current terms of Basle II. [66091]
§ Mrs. LiddellI have regular discussions with Treasury Ministers on a wide range of issues.
The Treasury are closely following the on-going discussions on the Basle II Accord which has yet to be finalised and I am kept informed of developments. The Treasury are aware of the potential impact on the financial industry, including that of Scotland, when Basle II is transposed into an EU directive. The UK will negotiate to ensure that the directive is flexible, effective and proportionate.