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Welsh Affairs

The right hon. Lady mentions the failure of the banks. Does she share the view of the Governor of the Bank of England that had the regulatory regime that was in place not been in place, and had there been an overarching responsibility on the part of one regulator, the failures of the banks would have been nipped in the bud? On bank bonuses, is she aware that in the case of the Royal Bank of Scotland, they are to be confined to employees earning less than £39,000 a year, and that the Prime Minister has indicated through his spokesman today that those bonuses are in line with what he approves of?