On a point of order, Mr Deputy Speaker. The Government have won their vote. The Chair of the Treasury Committee will now chair a narrow inquiry based on the remit that he set out in the House this afternoon. The Opposition respect the hon. Gentleman and will work with him,...

On a point of order, Mr Deputy Speaker. The Government have won their vote. The Chair of the Treasury Committee will now chair a narrow inquiry based on the remit that he set out in the House this afternoon. The Opposition respect the hon. Gentleman and will work with him,...

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...

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...

The House and the public will judge the integrity of a Chancellor who cannot defend here what he whispers to The Spectator magazine. He has no evidence, and he knows it, because what he said is not true, and he knew that too.

Let me read out what he said to...

The House and the public will judge the integrity of a Chancellor who cannot defend here what he whispers to The Spectator magazine. He has no evidence, and he knows it, because what he said is not true, and he knew that too.

Let me read out what he said to...

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...

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...

I am not going to give way to the Chancellor’s aides until the Chancellor himself puts up or shuts up, and he cannot, because he knows there is no evidence: the allegation is untrue and he made it anyway because that is the integrity of the man.

I am not going to give way to the Chancellor’s aides until the Chancellor himself puts up or shuts up, and he cannot, because he knows there is no evidence: the allegation is untrue and he made it anyway because that is the integrity of the man.

I will not give way now.

The reality is that we must all admit that regulation should have been tougher, including those who argued for less regulation. I say to the Chancellor that I will await, and press for, his withdrawal and apology day after day until I get it. All...

I will not give way now.

The reality is that we must all admit that regulation should have been tougher, including those who argued for less regulation. I say to the Chancellor that I will await, and press for, his withdrawal and apology day after day until I get it. All...

That is a very important point. Banks play a very important role in our economy. Hundreds of thousands of jobs depend on our retail and global wholesale banking industry. It would be very dangerous to take risks with that industry and those jobs. It makes no sense to throw the...

That is a very important point. Banks play a very important role in our economy. Hundreds of thousands of jobs depend on our retail and global wholesale banking industry. It would be very dangerous to take risks with that industry and those jobs. It makes no sense to throw the...

We return to the smears of the Chancellor and his aides. We have had answers to that question from the City Minister at the time, the Chancellor and Shriti Vadera. I have asked the Chancellor to provide the evidence or withdraw and apologise, and he cannot. That says quite a...

We return to the smears of the Chancellor and his aides. We have had answers to that question from the City Minister at the time, the Chancellor and Shriti Vadera. I have asked the Chancellor to provide the evidence or withdraw and apologise, and he cannot. That says quite a...

When the Conservatives gave reasons in Parliament at the time for opposing the establishment of the new regulator, did they talk about the tripartite system? The shadow Chief Secretary to the Treasury, who was the lead on this issue at the time, said in 1999:

“Our concerns about the Bill may...

When the Conservatives gave reasons in Parliament at the time for opposing the establishment of the new regulator, did they talk about the tripartite system? The shadow Chief Secretary to the Treasury, who was the lead on this issue at the time, said in 1999:

“Our concerns about the Bill may...

I need to make some progress. This is a very important issue and others want to speak. I have taken a number of interventions. I have to say, I am still waiting for the intervention that I want—the apology from the Chancellor. [Interruption.]

The Government’s second objection to a full judicial...

I need to make some progress. This is a very important issue and others want to speak. I have taken a number of interventions. I have to say, I am still waiting for the intervention that I want—the apology from the Chancellor. [Interruption.]

The Government’s second objection to a full judicial...

This is an important point, and Members should listen.

This is an important point, and Members should listen.

I am not going to take an intervention from that hon. Gentleman.

While we need speed, we also need the inquiry to be thorough and genuinely cathartic, and to succeed in rebuilding public trust and confidence, or else we risk being back here again.

The third argument the Government employ is one...

I am not going to take an intervention from that hon. Gentleman.

While we need speed, we also need the inquiry to be thorough and genuinely cathartic, and to succeed in rebuilding public trust and confidence, or else we risk being back here again.

The third argument the Government employ is one...

The hon. Lady should listen before she concludes whether to support our motion later on.

First, all the recent experience of the phone hacking scandal suggests that only a judge-led inquiry, under the Inquiries Act 2005—[Interruption.] Every time that Members interrupt me mid-sentence, I just conclude that I am not going...

The hon. Lady should listen before she concludes whether to support our motion later on.

First, all the recent experience of the phone hacking scandal suggests that only a judge-led inquiry, under the Inquiries Act 2005—[Interruption.] Every time that Members interrupt me mid-sentence, I just conclude that I am not going...

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...

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...

I am not going to take an intervention from the hon. Gentleman, who interrupts every sentence. It is not good for the House or this debate, and I suggest that he stay in his seat.

I will say the sentence again, Mr Deputy Speaker, if that is okay with you—[Interruption.]

I am not going to take an intervention from the hon. Gentleman, who interrupts every sentence. It is not good for the House or this debate, and I suggest that he stay in his seat.

I will say the sentence again, Mr Deputy Speaker, if that is okay with you—[Interruption.]

I will take the right hon. and learned Gentleman’s intervention, but I will make the point on powers first. I will do this in a proper way, Mr Deputy Speaker.

All the recent experience is that only a judge-led inquiry can have the necessary power to compel witnesses to attend and...

I will take the right hon. and learned Gentleman’s intervention, but I will make the point on powers first. I will do this in a proper way, Mr Deputy Speaker.

All the recent experience is that only a judge-led inquiry can have the necessary power to compel witnesses to attend and...

No. I will take the intervention from the Attorney-General next, thank you.

The last time Parliament imposed a fine for contempt of court was before the great fire of London in 1666. The last time a member of the public was imprisoned for contempt was before the Boer war. Select Committees...

No. I will take the intervention from the Attorney-General next, thank you.

The last time Parliament imposed a fine for contempt of court was before the great fire of London in 1666. The last time a member of the public was imprisoned for contempt was before the Boer war. Select Committees...

We know that this proposal was cobbled together over the course of Monday. I wonder whether the Prime Minister and the Chancellor had the opportunity to consult the Attorney-General before they made this proposal. If we cannot have a judge-led inquiry until the criminal prosecution has been done, how can...

We know that this proposal was cobbled together over the course of Monday. I wonder whether the Prime Minister and the Chancellor had the opportunity to consult the Attorney-General before they made this proposal. If we cannot have a judge-led inquiry until the criminal prosecution has been done, how can...

In a second. I am still waiting for the Chancellor to make his intervention.

The second point is that exactly the same argument was made in the case of phone hacking—that we could not have the inquiry until the criminal prosecutions had been done. But that is not what has happened...

In a second. I am still waiting for the Chancellor to make his intervention.

The second point is that exactly the same argument was made in the case of phone hacking—that we could not have the inquiry until the criminal prosecutions had been done. But that is not what has happened...

My hon. Friend is right, and I fear that the Attorney-General has just completely destroyed the basis of his own Government’s parliamentary inquiry. We know from experience that when the subject of a public inquiry overlaps with the prospect of criminal charges and trials, only a judge has the legal...

My hon. Friend is right, and I fear that the Attorney-General has just completely destroyed the basis of his own Government’s parliamentary inquiry. We know from experience that when the subject of a public inquiry overlaps with the prospect of criminal charges and trials, only a judge has the legal...