But as the House of Commons Treasury Select Committee has pointed out in an excoriating report, Mr. Osborne's policy looks flawed.

WSJ: Osborne Is Losing His Allies on All Sides

The House of Commons Treasury select committee complained last week that Mr Brown's Treasury is exerting too much influence over policy areas which are properly the business of other departments.

ECONOMIST: Bagehot

Following the House of Commons Treasury Select Committee's lamentable performance in questioning Bob Diamond last week, few expect this week's appearance by Mr. Tucker to provide clear answers to the questions over the role of officials.

WSJ: U.K. Must Restore Confidence in London