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Professional Standards in the Banking Industry

It is clear that there is a wider set of questions, on matters from mis-selling to small businesses to the wider culture and practices of the banking industry, that are outside the scope of the inquiry set out by the Chair of the Treasury Committee and, in our view, cannot be properly addressed by any parliamentary

Committee. In our view, the case for a full, open, judge-led public inquiry is stronger at the end of this afternoon, and we will continue to press that case.

It is our view that the Chancellor and the Prime Minister have made a grave error of judgment, and any time future scandals emerge, people will ask why we in this country are not having the full, independent public inquiry that our country needs.