Shadow Chancellor: 'Open, independent banking inquiry is needed'

Shadow Chancellor Ed Balls has told ITV News that an "open, independent full-scale inquiry" was needed after documents produced by Barclays bank today allegedly showed the Bank of England's association with 'senior' Whitehall figures.

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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.