On the day of Mr Diamond's evidence to MPs, the Chancellor, George Osborne directly accused the inner circle of former Prime Minister Gordon Brown of being involved.

Some people are surprised tonight that he’s gone out and said that.

The focus is already on the Labour ministers in question.

What essentially happened today was that there was this note from Barclays which suggested that the bank of England had said to them that Whitehallofficials were noting their high rate, the idea being a bit of a hint to bring it down.

The difference about today or where we are tonight – after BobDiamond’s evidence - is that he clearlysaid that pressure came from ministers. We don’t know who, but it is a significant development.