LIBOR (FSA Investigation) Debate

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Department: HM Treasury

LIBOR (FSA Investigation)

Viscount Thurso Excerpts
Monday 2nd July 2012

(12 years, 4 months ago)

Commons Chamber
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George Osborne Portrait Mr Osborne
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It is for the House of Commons and the House of Lords to pass a motion, so ultimately it is a matter for the House.

Viscount Thurso Portrait John Thurso (Caithness, Sutherland and Easter Ross) (LD)
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At the heart of this matter is a culture that has seen bankers go from trusted advisers to salesmen and clients go from valued clients to marks. Given that culture, is it not right that the Committee be asked to interview the Vickers commission again to see whether, in its view, ring-fencing is adequate following these events?

George Osborne Portrait Mr Osborne
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It would be entirely up to the Committee to call whomever it would want to call, and it might well want to speak to John Vickers, who has enormous expertise in this area.