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Amendment of the Law

Part of the debate – in the House of Commons at 1:41 pm on 24th March 2011.

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Photo of Lorely Burt Lorely Burt Chair of the Liberal Democrat Parliamentary Party 1:41 pm, 24th March 2011

The right hon. Gentleman is right—the Business Secretary is very wise. He warned the right hon. Gentleman when he was a business Minister with responsibility for the City that there was far too little regulation for the banks. Does he now regret the fact that he said at the time that we should have light-touch regulation for the banks, which eventually proved so disastrous?