Vince Cable has denied that the action taken to save failed retailer Comet was too little too late. He said social and economic collapse have also been very significant.
But he has admitted that people would expect the government to investigate what happened after the private equity firm, OpCapita bought the company last year for one pound. The firm will reportedly walk away with up to £50 million.
He adds that there are allegations both significant and serious enough to warrant proper inquiry.
More top news
The home of a Premier League footballer has been burgled while he was away with his club for a match
A giant 'death ray' is being offered free to a good home on Gumtree.
The British Government has urged the world football governing body FIFA to publish the Garcia report into World Cup bidding in full