Uk politics

Bob Diamond's resignation with immediate effect as chief executive of Barclays gives plenty of people in Westminster the scalp they were looking for. Labour had called for Diamond to go after the Libor scandal surfaced. The Lib Dems had called for Diamond to resign, with Vince Cable threatening to use as a last resort his powers to disqualify directors. In fact the Lib Dems have been so focused on getting Diamond out that I understand they have been intentionally avoiding the brewing row between Labour and Tories about the parliamentary inquiry, headed by Treasury Select Committee chair Andrew Tyrie. Diamond's resignation statement to the stock exchange was not exactly dripping with apology and remorse.

Pressure has been building all weekend for the Prime Minister to give some form of concession to his eurosceptic backbenchers in his statement on the outcome of the Brussels summit. James blogged shortly before David Cameron stood up in the Commons that Tory MPs were being reassured that they were going to like what they would hear him, which a pro-European MP suspected would be 'feeding a beast with an insatiable appetite'. This is the meat the Prime Minister threw to the eurosceptics: 'Far from ruling out a referendum for the future, as a fresh deal in Europe becomes clear, we should consider how best to get the fresh consent of the British people.

Tory MPs are plotting to oust Speaker Bercow, the Sun on Sunday reports today. They are apparently furious that Bercow allowed Chris Bryant to brand Culture Secretary Jeremy Hunt a 'liar' in his party's opposition day debate calling for a full investigation into Hunt's conduct. The Speaker refused to censure Bryant because he argued the unparliamentary language mirrored the wording of Labour's motion for the debate. This attempted coup is another sign of the fierce loyalty that backbenchers feel for the Culture Secretary. You insult Hunt, and you insult the party: the Lib Dems learned that after they allowed their MPs to abstain on that motion and lost any goodwill from the Tory backbench on Lords reform.

The Libor scandal is both a threat and an opportunity for Labour. The threat is that the abuses took place under a regulatory system that was devised by the last Labour government and by a Chancellor who both Eds worked for. As I said yesterday, the Tories are determined to hammer Balls — a former City minister — on this. But the opportunity is that it offers Ed Miliband a chance to act as if he is the tribune of the people, the leader brave enough to take on the powerful. So as with News International and phone hacking, we’ve seen Miliband getting out in front in terms of calling for the top people at Barclays to go and Labour is also backing an independent inquiry into the banks, something the government is currently opposed to.

At the first meeting of the 1922 Committee following the 2010 election, I was the only new MP to speak. I used my time to set out why I would support a coalition: the country was in an economic crisis and at war; we knew what needed to be done - deal with the debt and radically reform education, welfare, local government, healthcare and defence; and we knew no one else was going to do it. In the following two years my rebelliousness has stretched as far as two abstentions on votes against opposition amendments. The first was on a Labour amendment to extend national insurance contribution holidays for start-ups to the South East, and the second was an amendment on capping interest on payday loans.

George Osborne's U-turn today on fuel duty seems both canny and confusing. It comes just 48 hours after a denial from Transport Secretary Justine Greening that the Government would scrap the 3p rise in August, but appears to be warding off the threat of a backbench rebellion in the Commons next week on a motion submitted by Labour to the Finance Bill.  Ms Greening told the Sunday Telegraph:  So more power to the backbenchers, led by Robert Halfon, whose campaign against fuel duty increases now looks to have succeeded in part, although he might want to continue to push retailers to push costs down anyway. But it is still surprising given the rebellion from Conservative MPs was not expected to reach beyond double figures.