WHITEHALL

Knee-jerk regulation is not the answer to failure

Michael Burton says that in the wake of financial losses at Woking, Thurrock and elsewhere, the answer is 'not more regulation but better use of existing checks and balances'.

Those who have been around the block a few times – eg myself – will recall the early 1990s controversies over the legalities of incidental trading.

This was where councils unloaded their supposedly surplus stock on the open market though the law in some cases was stretched like elastic, such as in the case of the northern met that sold uPVC windows to East Germany.

Michael Burton

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