Opposition Day — [15th Allotted Day] — Trade, Exports, Innovation and Productivity

Part of the debate – in the House of Commons at 1:01 pm on 13th January 2016.

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Photo of James Cartlidge James Cartlidge Conservative, South Suffolk 1:01 pm, 13th January 2016

I welcome this debate and the hon. Gentleman’s focus on rebalancing the economy, which is undoubtedly a huge issue. However, when we talk about rebalancing the economy, we have to remember that because the recession in 2008 was a financial recession, it was inevitably followed by monetary policy hitting the floor, perpetuating higher house prices and all those other things we wanted to avoid, but which were an economic necessity. That being so, does he regret the role his party played in advising Royal Bank of Scotland to purchase ABN AMRO, which ushered in the huge financial crash and brought down our financial giant?