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Farepak

I congratulate my hon. Friend on securing this debate. Does she share my disappointment that the British Retail Consortium has withdrawn from negotiations? The message from this forum is that the BRC must return to the negotiating table and redouble its efforts. Given that Farepak is the third company in the sector to go bust, in my capacity as the Chairman of the Select Committee on the Treasury, I have written to Sir Callum McCarthy, the chairman of the Financial Services Authority, to say that the sector needs regulating. Before the end of the debate this morning, the Minister must address that point.