Banks operate like a man who either wears his trousers round his chest, stifling breathing, as now, or round his ankles, exposing his assets. We want their trousers tied round their middle: steady lending growth; particularly to productive British business, especially small scale enterprise.

Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.

I am a bit of a lefty on some issues.

And humility in politics means accepting that one party doesn't have all the answers; recognising that working in partnership is progress not treachery.

We need a new British business bank with a clean balance sheet and an ability to expand lending rapidly to the manufacturers, exporters and high-growth companies that power our economy. Today I can announce we will have one.

I fear that the rising personal bankruptcies and repossessions are the first signs of bigger problems to come and personal debt - Gordon Brown's legacy to millions of Britain's families - will hang like a millstone around the neck of the British people for years to come.

The government increasingly resembles somebody who is trying to give the kiss of life to a corpse.