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Securitisation Regulations 2018

Part of Business of the House (Today) – in the House of Commons at 4:07 pm on 13th February 2019.

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Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury 4:07 pm, 13th February 2019

I am very happy to draw the hon. Lady’s attention to the fact that the default rate for triple A rated bonds in the EU was 0.6%, while in the US it was 16%. The key point that the Conservatives have always wished to stress is that the spending profile from 2002 and 2007 massively compounded the difficulties we found ourselves in.