This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Asked about scope of the inquiry into the Co-op, the PMS referred to comments the Prime Minister made yesterday about the Chancellor speaking to the regulators to decide what the appropriate form of enquiry will be. Asked whether the Chancellor had intervened to help the Co-op, the PMS said the Capital Requirement Directive was amended to ensure consistency of approach for mutuals across the EU and to ensure a level playing field for British companies in Europe.
Asked about the role of Reverend Flowers, the PMS said there would be widespread concerns by those who hold Co-op bonds and that it is right that questions are being asked. Asked about the timescales for the inquiry, the PMS said there would be an update in the coming days.
Asked whether the PM had ever used the phrase “Green Crap”, the PMS said that he did not recognise that phrase. Asked whether the coalition is retreating from the PM’s environment agenda, the PMS said this wasn’t the case. The PMS said that this is the first government to set up a Green Investment Bank, that there is great support for green technology industries and this government has the first nuclear power station since 1995, all of which shows a sound approach to the environment agenda.