Osborne: Balls not personally involved in Libor scandal

The chancellor has said that Ed Balls was not personally involved in the Libor scandal, as Labour agreed to co-operate with a parliamentary inquiry into the affair.

George Osborne said on Wednesday that his Labour counterpart had “questions to answer” over the scandal.

But Mr Osborne’s aides told the BBC’s Nick Robinson they accept that Mr Balls had not intervened in the affair.

Meanwhile, Labour said it would continue to push for a public inquiry.

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