LIBOR (FSA Investigation)

George Mudie Excerpts

Monday 2nd July 2012 Commons Chamber

[Mr Osborne]

The FSA’s report is very clear about the interaction between the Bank of England and Barclays. Paragraph 176 says:

“No instruction for Barclays to lower its LIBOR submissions was given”

during the telephone conversation that caused the press interest.

[Mr George Mudie (Leeds East) (Lab)]

Will the Chancellor confirm that there will be no Government majority on the Joint Committee?

[Mr Osborne]

The Committee will be set up in the normal way.