Co-operatives, Mutuals and Friendly Societies Bill

I am learning a great deal about the hon. Gentleman’s constituency that I was not previously aware of, so I think him for that. I recognise what he is discussing because I, too, have such cases in my constituency. I wanted to ask about the building societies that we still have, and the diversity of our financial services sector. If we had retained more of the mutual building societies in the ‘70s, for example, would we still have had the same financial crash in 2008?