Tonight on Question Time Alan Duncan has repeatedly denied that the Conservatives were in favour of removing regulation from the mortgage market.
So now might be a good time to remember the policy proposals John Redwood penned for the Conservative Party last year:
We see no need to continue to regulate the provision of mortgage finance.
Even at the time, the idea that the problem with our financial systems was too much regulation of the mortgage market seemed a little, er…, at odds with reality, but given what’s happened since, this wasn’t exactly the best policy call, was it? And perhaps Alan Duncan will be a bit more accurate on TV…
UPDATE: Although Alan Duncan claimed to have no idea where the idea of Tories wanting to abolish mortgage regulation came from, the proposals were reported in the media at the time, as in The Times piece: “Tories call for end to mortgage regulation”.
UPDATE 2: Alan Duncan’s exact words when the above quote was read out were, “I’ve no idea what she [Harriet Harman] was referring to”. Nice to know that he’s been following his own party’s policy process so closely.