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Farepak

Many people, including HBOS, need to answer some serious questions. Although I understand that such transfers are not necessarily illegal, they are certainly unethical, and that is why we need better regulation of the sector. People have written to me to say that the European Home Retail group comprises seasonal companies, so if HBOS had not cut off their funds, they might have made it through to Christmas. There is a question mark over the way in which the bank has behaved, and my right hon. Friend is right to look into it. I thank him for his work.