The criticism of that committee, coupled with a warning about speed of change from England's exams regulator Ofqual and fierce Lib Dem opposition to the EBC combined to defeat it.
The committee recommended that encouraging sustainable development should be a primary duty of the regulator, and that the government should speed up reform of the way water was abstracted from rivers.
Although the financial industry likes to think of itself as a technology leader, outside high-speed trading it frequently lags behind other industries, said a regulator.