Professor Philip Lane:

On civil law, it is important to remember that we have a lot more ability to get banks to deliver than an individual taking a case to the courts. That is what I am saying. Even in the case where someone is so beaten down by a difficult case that they withdraw from the process, that does not influence what we are doing. If those cases come up, they will be receiving the redress and compensation. There will be assistance for people, by and large, if they want to launch an appeal. There is no threat of loss of the redress and compensation. There will be support for people who want to bring appeals.

I accept the Chairman's basic point that at this stage, after so long a time, many people are discouraged and have been distressed by all of this. It goes back to the same point the Chairman has also made about the culture of banks and so on. We have this consumer framework which basically says that there are different ways to protect consumers, but in the end it is essential we have companies that accept, and whose boards and senior management accept, that they should be consumer focused in how they do business.