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Professional Standards in the Banking Industry

I will make the point and then take the intervention.

First, all the recent experience of the phone hacking scandal—[Interruption.] The Chancellor should listen—unless he is composing his apology. We should consider the recent experience of the phone hacking scandal and all the deliberations we see in, for example, the very important report on the details and reality of Select Committees and coercive powers, entitled “Select Committees and Coercive Powers—Clarity or Confusion?”, from the Constitution Society. All the experience shows that only a judge-led inquiry can have the necessary power to compel witnesses to attend and ensure the production—