MP warns on new Bank chief powers

Investigators could be sent to unearth information about the role of the Bank of England in the 2008 financial crisis if the Government refuses to fix "defective" legislation, a leading MP said.

Tory Andrew Tyrie, who chairs the Treasury Select Committee, said his members would not hesitate to send specialists into the Financial Services Authority (FSA) for a second time to get answers about the Bank's role.