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Ian Hudghton (Verts/ALE)
As I did at
the Committee stage, I supported today the compromise package as commended
to us in the Skinner Report.
Financial services make a very substantial contribution to
the economy of Scotland, and re-insurance, whether directly or indirectly,
affect Scottish-based enterprises and consumers.
I welcome this proposal, which makes progress towards a
Europe-wide system of re-insurance provision and regulation, as well as
providing an opportunity to tackle the situation in the USA, where vast
amounts of capital are tied up because of their collateral requirement
leading to extra costs currently being passed on to consumers.
The rapporteur is to be congratulated for his work on this
document. |
