Lord Lawson has answered your questions on the recession – and then some. He warns that David Cameron will "have to do what we did initially, both cut back on spending in particular but also raise taxes". He also explains how his Board of Banking Supervision – which Brown abolished in 1997 – would have done a far better job than the FSA in seeing the crash coming. And proposes that investment banks should be lightly regulated, but that banks should be more heavily regulated. A return, in other words, to the Glass Steagall Act. Head over to The Spectator Inquiry wiki-page to read more.