Fin min speaking in parliament

  • need to create EU safe-guards for non-euro members
  • more detail on EU re-negotiation to come this Autumn
  • UK prepared to fight very hard

Osborne supposedly speaking for everyone ( in his own head at least) ahead of the EU referendum widely touted for next year by June

BTW how's your Chinese take-away George ?

  • regulators raised concerns about UK reverse burden of proof rule as well as bankers
  • was widespread view that reverse burden of proof rule could not be extended beyond banks
  • we want to help banking system but I've not shied away from very difficult decisions

The reverse burden of proof rule for banks/bankers was introduced in March by the FCA which requires senior managers to demonstrate that where a firm is guilty of misconduct they "took such steps as a person in their position could reasonably be expected to take" to avoid it happening.

Guilty until proved innocent in effect

Osborne- Trust me, I really do have everyone's interest at heat. Apart from steelworkers