Professional Standards in the Banking Industry (No. 2)

Part of Business without Debate — Supply and Appropriation (Main Estimates) Bill – in the House of Commons at 5:28 pm on 5th July 2012.

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Photo of George Osborne George Osborne The Chancellor of the Exchequer 5:28 pm, 5th July 2012

Further to that point of order, Mr Deputy Speaker. I welcome the Opposition’s agreement in principle, as I take it, to take part in a joint parliamentary inquiry into what has happened. I suggest that the usual channels now work on the membership of that inquiry and that the Front-Bench teams and my hon. Friend Mr Tyrie discuss any concerns that Opposition Front Benchers have about resourcing, the secretariat and so on. What everyone now wants to do is get a resolution that all parties can agree on, which we can bring to the House before it rises, so that we can get the Joint Committee up and running, get to the bottom of what went wrong in our banking industry and with the LIBOR scandal, and make the changes needed to legislation to ensure that it never happens again. I would welcome the Opposition’s support in doing that.