Osborne defends Co-op bank role

Press Association
Osborne defends Co-op Bank role
Osborne defends Co-op Bank role

George Osborne has defended the Government's involvement in plans for the Co-operative Bank to take over branches of Lloyds, insisting the collapse of the deal showed the "system worked".

The Chancellor attempted to distance the Treasury from criticism about the way checks were made on the bank as the fallout continues from allegations about former chairman Paul Flowers' alleged drug-taking.