The Tories this week said Alistair Darling should say what he wants companies to disclose on balance sheet, after the chancellor made a call for greater transparency from business. ‘We need effective regulation in international markets and far greater openness to prevent risky investments being hidden off balance sheet,’ Darling told delegates at the Labour Party conference, in a move apparently designed to deflect attention over the Northern Rock fiasco.

However, Justine Greening, a shadow Treasury minister, said: ‘It’s not clear what Mr Darling has in mind. We will have to wait and find out specifically what he feels should have been disclosed that would have been useful.’