The reason Conservative Members are getting so irritated is that they do not like being reminded that it was a global banking crisis. They like to airbrush that entirely from the record. That has been their strategy throughout, but we will not let them forget that there was a banking crisis across the globe. We needed to take greater action to regulate it, but I did not hear Conservative Members calling for stronger regulation of financial services; the truth was quite the opposite.
If we had a rational debate, we would see the connection between living standards, growth and the health of the public finances.