The Economy

Part of Council Tax Rebate – in the House of Commons at 4:59 pm on 31st March 2009.

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Photo of Vincent Cable Vincent Cable Shadow Chancellor of the Exchequer 4:59 pm, 31st March 2009

I do not rule out the proposals in Mr. de Larosière report, which, as I understand them, involve much closer collaboration between European regulators—he uses the concept of a college of regulators, I believe. Surely all our experience last autumn and the panic induced by the Irish independent policy on bank deposits suggest that European co-operation is needed more than ever. That is not to say that we would support an ending of national regulation—that is the bedrock on which the collaborative structure is based. A combination of the two is needed.

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