Borrowers and lenders welcomed the ability to trade under a lighter regulatory regime.

Another was the fostering of a dynamic and responsive regulatory regime - ensuring financial stability while allowing innovation - as well as good governance.

Nor are domestic businesses investing when they do not know what tax or regulatory regime will apply to them.

If businesses are to succeed, they will need proper public understanding, stable partners from the state and voluntary sectors, and a supportive regulatory regime.

In the face of industry and financial markets pressure, the government withdrew their threatened legislation and instead announced that the regulatory regime for the railways would be reviewed.