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.
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Four migrants who tried to cross the Channel in an inflatable dinghy have reportedly been rescued by French coastguards.
The victim, a man in his 40s, is being treated in hospital for "life-changing" injuries after the attack by two men who remain on the run.
Heavy security presence as 64,000 fans gather at the Stade de France stadium for the Six Nations rugby match between France and Italy.