Members of the public are being invited to put their questions to those in charge of handling the crisis in the banking sector.
An urgent inquiry into the banking crisis is to be launched by the Treasury Committee to determine how and why problems have occurred and to examine the action that is being taken to rectify them. The move comes after the government injected £37 into ailing British banks.
Chairman John McFall said that given the size of the sums invested, the committee will be inviting questions from the public to put to the chancellor. Alistair Darling has been asked to appear before the committee "as soon as possible". He will be accompanied by Bank of England governor Mervyn King and Lord Adair Turner, the chairman of the Financial Services Authority, should they accept the committee's invitation.
"This inquiry will take a fundamental look at the causes of the present banking crisis, the current responsibilities of the banks and the government to the taxpayer and the future shape of the financial and regulatory landscape," said Mr McFall.
He added that providing the public with a chance to pose their questions to fiscal and monetary policymakers should help to engage people on what is a matter of great concern to British taxpayers.
Meanwhile, it has emerged that Northern Rock is repaying its loan to the Bank of England ahead of schedule. However, it warned that the slowdown in the housing market could hinder future progress. The bank was nationalised in February.
