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Government warned about leaking information to the press

John Bercow, the new Speaker of the House of Commons, has today reminded the UK government that all future key policy statements must be heard by the House of Commons rather than being leaked to the press. His comments come as the UK government stands accused of leaking documents and information to the press with regards to the Bank of England and the potential for changes in the regulatory system.

As we have covered over the last few days, the UK government has let it be known that it is considering withdrawing substantial areas of power from the Bank of England and taking them in-house at the Treasury. This is a result of Mervyn King's recent comments regarding the Bank of England and its relationship with the UK government which appears to have hit rock bottom. Despite being central to the UK financial system, it seems that the Bank of England has been left out of the loop with regards to ongoing regulatory changes, which has angered many within the bank.

The UK government is on the verge of a potentially damaging and embarrassing U-turn although many believe they would not be able to force through any significant changes, such as those leaked to the press.

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