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George Osborne accused of lobbying on behalf of banks for weaker regulation

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London Telegraph
June 25, 2013

Speaking in the House of Commons, the Chancellor did not deny claims that he and Number 10 lobbied the Bank of England’s Prudential Regulation Authority “at the behest of the banks”.

The allegations were made by Sir Mervyn, the outgoing governor of the Bank of England, in his last appearance before MPs on the Treasury select committee this morning.

Sir Mervyn suggested the watchdog had been put under political pressure by Downing Street to weaken requirements on the banks to hold a large amount of spare cash.

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This article was posted: Tuesday, June 25, 2013 at 11:21 am

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