In the Last Financial Crisis the phrase "equality of sacrifice" was coined.

Another reason why we cannot welcome unconditionally the convertibility move which otherwise we should have been glad to see is that the Last Financial Crisis, in September, 1957, resulted in a policy which the Government are always claiming saved the £, restored our reserves and all the rest of it, but which, in fact, if it had any effect at all, had the very reverse effect.

In 1955 - that was, if I have kept count correctly, the Last Financial Crisis but one; but it may have been another; one loses count of them a little but they all run absolutely true to form - we had the present Home Secretary bringing in for the first time, after the General Election - that was rather a quick one, because it came directly after the General Election and this has been just a little bit slower - Purchase Tax on pots and pans, brushes and household goods, and all kinds of things.

When we had the Last Financial Crisis we had to borrow over £700 million from the International Monetary Fund.

There will be a need to work together-something that manifestly failed with regard to the FSA and the other organisations during the build-up to the Last Financial Crisis.

I was astonished to hear the Financial Secretary say he thinks that the regulation of financial derivatives in the Last Financial Crisis was adequate, since it seems to me to be clear that that was not so.

It is argued that it could reduce speculation, and certainly some of the riskiest speculation that caused the Last Financial Crisis.

It may appear attractive to require greater engagement in statute as a guard against complacency in the future, but the clause risks weakening the auditor dialogue and perpetuating the tick-box approach that was found wanting in the Last Financial Crisis.

The Last Financial Crisis was far worse because no one knew to whom anyone had exposure.