Peter Tapsell
Main Page: Peter Tapsell (Conservative - Louth and Horncastle)Department Debates - View all Peter Tapsell's debates with the HM Treasury
(13 years, 11 months ago)
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Sir Peter Tapsell (Louth and Horncastle) (Con)
As one of those who strongly opposed the introduction of the tripartite regulation of our financial institutions as soon as it was announced in 1997, may I congratulate the Chancellor on getting rid of the FSA, which has been a major contributor to the disasters in the economic sphere in recent years and which was regarded in the City, throughout the whole of its lifetime, as a thoroughly inefficient organisation?
Mr Osborne
To be fair to the FSA, it has been rather candid about the mistakes that were made when the shadow Chancellor was the Chancellor and when the former Prime Minister was the Chancellor. We have to learn from those mistakes. As I have told the House, we will set out the details of the institutional arrangements in a parliamentary statement tomorrow.