The Economy and Business, Innovation and Skills

Part of Corporation Tax Bill – in the House of Commons at 3:03 pm on 26th November 2009.

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Photo of Kenneth Clarke Kenneth Clarke Shadow Secretary of State 3:03 pm, 26th November 2009

I am glad that the hon. Gentleman was paying such close attention to my speech last night. I entirely accept that the hubris of our bankers, along with the complete failure of the regulatory system that our Prime Minister had put in place, was the greatest cause of the deep recession that we went into. Last night I was dealing with why our economy is the slowest in coming out of it, and debt plays a very big part in that. We can agree in criticising bankers, but the hon. Gentleman cannot wave aside-as the Government are trying to-the problem of debt, which is slowing us down in our recovery.

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