HC Deb 15 July 2002 vol 389 c68W
Mr. Wiggin

To ask the Chancellor of the Exchequer what steps he is taking to raise investor confidence in the stock market. [69751]

Ruth Kelly

The Government are committed to securing macroeconomic and financial stability. This is the best long-term basis for promoting investor and business confidence.

The Government have also reformed the regulation of the financial sector by establishing the Financial Services Authority (FSA) as the single, independent regulator, and introduced a new framework which brings together the FSA, the Bank of England, and the Treasury, to pursue financial stability.

The Government have established a joint DTI-Treasury chaired group to co-ordinate the analysis of and response to the auditing and accounting issues raised by recent US corporate failures.