Jeremy Lefroy
Main Page: Jeremy Lefroy (Conservative - Stafford)Department Debates - View all Jeremy Lefroy's debates with the HM Treasury
(12 years, 4 months ago)
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Jeremy Lefroy (Stafford) (Con)
The prices of many important international commodities are set in London, such as cocoa and robusta coffee, and tens of millions of smallholder farmers and poor people around the world depend on these. Is my right hon. Friend confident that the kind of problems that we have seen with LIBOR are not spreading to such markets, which are so important for people around the world?
Mr Osborne
Of course we should be vigilant in the supervision of all markets. Although there have been many complaints of the kind that my hon. Friend makes, every investigation here and, as far as I am aware, in other jurisdictions has not found the kind of market manipulation in those commodity markets as we see in LIBOR.