Brown admits he made mistakes as chancellor

GORDON Brown came under fire yesterday for his admission that, as chancellor, he was not tough enough in regulating the financial sector.

In a TV interview broadcast yesterday evening, the Prime Minister cited the failure to impose tighter regulation in the years before the financial crash as one of his biggest mistakes.

But Liberal Democrat Treasury spokesman Vince Cable said it was “not enough” for Brown to say sorry, and that any future government must have a plan to ensure that taxpayers are never again held to ransom by the banks.