Ed Balls: 'I knew nothing about senior Whitehall figures' over Libor-fixing

Shadow Chancellor Ed Balls, who served as Economic Secretary to the Treasury in 2006/7, insisted he knew nothing about senior figures in Whitehall applying pressure over Barclays' high Libor pricing today.

Shadow Chancellor Ed Balls insists he had no involvement Credit: PA Wire

He told BBC News: "I have absolutely no idea, that's why I want, as Ed Miliband does, a full open judicial inquiry at arms-length forensically to ask these questions to see whether anybody knew what was going on.

"Without that I don't think we can have confidence or the public can't have confidence that we are moving forward in sorting out this culture."

Advertisement

Deep division over bank inquiry

Labour leader Ed Miliband has stepped up demands for a full judicial inquiry into the banking scandal, warning the public is in no mood for an "establishment cover-up". The Government wants a rapid, cross-party inquiry by MPs and peers.