Industry and Exports (Financial Support) Bill

Part of the debate – in the House of Commons at 5:02 pm on 16 March 2009.

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Photo of John Penrose John Penrose Shadow Minister (Business, Innovation and Skills) 5:02, 16 March 2009

I am sure that the hon. Lady would want to be accurate. To be clear, the Conservative party has just published a report on banking regulation and believes that a great deal of reform is needed, including much tougher regulation, to prevent systemic risk in banking. Elsewhere in the economy, which is being held back by an awful lot of heavy-handed red tape, we agree with light-touch regulation, as indeed do the Government.

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bryan mcgrath
Posted on 18 Mar 2009 10:44 am (Report this annotation)

Let me get this right.

The banking system collapsed, the taxpayer had to pick up the bill. Government "bad", it should had regulated more, or, at least, enforced the regulation that was in place.

The rest of the economy requires a "regulatory light touch".

Even you has to know this is inconsistent and complete gibberish