Brown disowns his own regulatory systemWritten by Wandsworth Conservatives Thursday, 18 September 2008 17:10
George Osborne has accused Mr. Brown of "trying to disown" the regulatory system he created, after the Prime Minister pledged to "clean up" the City.
The Shadow Chancellor stressed, "He seems to forget that he is the man who in ten years as Chancellor created the current system of regulation."
And he added, "For ten years he boasted about his achievements. Today he is trying to disown them."
George called for reforms to "return stability to financial services and prevent another bubble" - and pointed to our proposals to give the Bank of England tough new powers to intervene in financial markets and provide new protection for depositors from financial collapse.
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