Developing Country Debt (Restriction of Recovery) — Finance Bill — 6 May 2009 at 21:18

I beg to move, That the Bill be now read a Second time.

This year's Finance Bill comes as the world economy is shrinking for the first time in peacetime since 1932. It is the first time ever that five of the biggest banks in the world have had to be rescued by their national Governments. That is the scale of the international challenge we are facing.

Question put, That the Bill be now read a Second time.

The House divided: Ayes 285, Noes 209.

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