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Business of the House

My right hon. Friend is right to draw attention to the fact that, behind the global credit crisis, lies the problem of a lack of transparency, which meant that financial things were bought and sold without those who were buying and selling them knowing what it was all based on. Lack of transparency and secrecy have led to this global problem, which Treasury Ministers, working with colleagues internationally, are determined to sort out. There will be a further statement from the Chancellor of the Exchequer at 5 o'clock.