The Queen's Speech referred to the Banking Bill, which has already largely completed its passage in another place - I shall save my detailed comments on that until our Second Reading next week - but that Bill is largely about the Next Banking Crisis and not about today's issue of getting the banks lending again.

Why cannot the Chancellor see the looming spectre of mass unemployment in the Next Banking Crisis, which will be even greater than that of 2008 unless he moves to prohibit the commercial banks from indulging in investment banking?

All those quotes are absolutely relevant, but surely the most damning quote of all is that from Adrian Coles of the Building Societies Association, who said that the proposal was a "modest measure" and that "Of itself it is not going to prevent the next bubble, it is not going to prevent the Next Banking Crisis" --[ Official Report, Financial Services Public Bill Committee,10 December 2009; c.

One would hope that the quotation from Adrian Cole of the Building Societies Association that I cited in an intervention would be the clause's epitaph: "Of itself it is not going to prevent the next bubble, it is not going to prevent the Next Banking Crisis".

As the director of the Building Societies Association said when he gave evidence to the Public Bill Committee in the other place: "Of itself it is not going to prevent the next bubble, it is not going to prevent the Next Banking Crisis".

I am absolutely convinced that if we do not go back to something approaching Glass-Steagall, it will be an absolute disaster when the Next Banking Crisis hits us.

How can anyone read the evidence that Mr Paul Volcker gave to my hon. Friend's commission and come away with any other conclusion than that ring-fencing, whether electrified or not, simply will not work when we get the Next Major Banking Crisis?