
Ed’s ahead with banking inquiry
Low party interest parading as high political principle. That was the theme of today’s PMQs as the party leaders clashed over the scope and nature of the inquiry into the Libor scandal. David Cameron’s pungent language was intended to reflect public anger at the banks. He spoke of ‘spivvy and illegal activity’ in the City, and he promised that crime in financial centres would be pursued as rigorously as crime on the streets. One of the grandest of Tory grandees, Nicholas Soames, warned him that new regulatory mechanisms mustn’t be allowed to damage the City, ‘which remains a vital asset for our country.’ And he was followed by the
