---

Professional Standards in the Banking Industry

I am very sorry, but we cannot have a Chancellor of the Exchequer who behaves in this way. He made an utterly personal allegation about me. He said:

“They were clearly involved…That’s Ed Balls, by the way.”

I have said unequivocally that that is utterly untrue. The Chancellor should either provide the evidence or withdraw the allegation. We should not have to wait for an inquiry for the Chancellor to withdraw a false allegation made about me, which he has no evidence for, and which he knows is utterly untrue.

I have to say that the Chancellor’s behaviour will appal the public, who, rightly in my view, are unpersuaded that any of us—any of this generation of politicians, regulators and bankers—are currently rising to the challenge and putting right the wrongs for which they are paying a heavy price.