Gordon Brown has admitted that Labour were too light-touch with punishing the bankers responsible for the 2007-08 global financial crisis, stating some should have gone to jail.
In an interview with the Sunday Times, the former Chancellor turned Prime Minister said “there should have been prosecutions,” adding that while he would not interfere in the work of potential prosecutors, “what you can do is change the law and make it tougher on people - and obviously we would have done that if we’d got back into power”.
While Brown's response to the crisis - bailing out Lloyds Bank and Royal Bank of Scotland - helped stem the worst of its affects, the UK still fell into a deep recession.
