Press briefing: afternoon 9 July 2013
The Prime Minister's Spokesperson answered questions on Rupert Murdoch and Libor.
Rupert Murdoch
Asked whether Rupert Murdoch should be made to re-appear in front of a parliamentary committee and when the Prime Minister (PM) last spoke to Rupert Murdoch, the Prime Minister’s Spokesperson (PMS) said that appearances at the committee are a matter for the committee. On the second question, the PMS said he had nothing to add to previous comments made by the PM on this.
Libor
Asked whether the “loss” of Libor to New York is just the beginning of French, Germans and US “getting their hands” on public services, the PMS said he does not agree that this is what is happening. He said that the government has put measures in place, including a criminal offence for making misleading statements about benchmark prices. An independent committee has looked at this and the New York Stock Exchange has been considered the best placed to take it forward.
Asked if the PM regrets that the New York Stock Exchange has been chosen, the PMS said that the key thing is that international credibility is restored. Following a tender process, the New York Stock Exchange best met the criteria.
Pushed on whether this is the start of the “hijacking” of more services by the French, US and Germans, the PMS said that this is part of the government’s determination to put strong, stable regulation in place. The PMS also said that he would not put it in those terms. Asked whether we have given up Libor for something else that has not yet been announced, the PMS said that this is about Libor.