Part of Financial Services Bill – in the House of Lords at 3:45 pm on 3 July 2012.
The noble Lord, Lord Davies of Stamford, has given us a pseudo-economic lecture. I have to tell him that the lesson that will be drawn by future business schools will not be about the economic policy of this Government but about the economic policy of his Government, which led this country to the edge of ruin. That is the case that will be taught in business schools: how not to do it. It was his Government, of which he proudly said he was a part, that led us to the pass that we are now in.
Turning now from the general to the specific, the noble Lord, Lord Eatwell, in his introduction, described-