These 'masters Of The Universe' Must Be

Regulators Are A Backstop: They Don't Own Banks. The Governance At The Top Of Our Leading Banks Has Been Shown To Be Lamentably Weak. No One At The Top Of Barclays Will Take Responsibility For Systemic Abuse.

The Real Problem At The Moment Is That The Banks - Because Of Their Existing Culture, Which Is Frankly Anti-business, Obsession With Short-term Trading Profits, Not Focusing On The Long Term - Are Throttling The Recovery Of British Industry.

Britain Is No Longer One Of The World's Price Setters. It Is Painful. It Is A Challenge To Us In Government To Explain All That, And It Is A Pity That The Political Class Is Not Preparing The Public For It To Understand How Massive The Problem Is.

For Wide Swaths Of Training And Education There Are Valuable Spillovers Which Mean That The Private Sector Needs Support From The Government. That Is Why I Have Been So Determined To Protect And Grow Apprenticeships And Put Higher Education On A Sustainable Footing.

The Economy Has Become Seriously Unbalanced. Its Growth Has Not Been Driven By Investment Or By Overcoming Britain's Long-standing Weaknesses In Investment And Productivity, Particularly Skills. Instead, There Has Been A Binge Of Debt-financed Consumer Spending.