JC: Do you agree with what Andrea Leadsom say, that actually he should apologise to Ed Balls?
NL: Well I didn’t much like the scenes in the House of Commons last week and I didn’t think they reflected very well on Parliament and I think that if there is an allegation that Ed Balls intervened it doesn’t stand up, that is clear. I also think there is a difference between a minister if he were or she were to say to a bank there are public policy reasons why we would like interest rates lower, that is entirely different from traders making private gain out of misleading information. So, you know, it might be legitimate actually for ministers to intervene in an interest rate, but the evidence is that they didn’t even do that.
JC: Would it draw a line under this whole saga if the Chancellor just said loo I’m sorry, he overplayed his hand?
NL: Well I think possibly he did overplay his hand. I didn’t like the atmosphere in the House of Commons, this is a very, very serious issue and I think it is clear ministers did not intervene in an improper way.