Miliband admits Labour's regulatory failures

In his speech to the CBI Annual Conference in London, the Labour Party leader accepted the previous government had depended too much on financial services for economic growth. He also suggested that, fearful of being too excessive, previous governments had failed to adequately regulate the financial services. Miliband added: "We need policy-makers and regulators who recognise that we need stronger rules but also that we need a culture that balances the need to support financial services with the need to protect our wider economy. "And, change shouldn't just be about reducing risk b...