Norman Smith
Assistant Political Editor, BBC

Treasury demand @EdBallsMP make statement to explain his role as city minister during HSBC scandal

Kamal Ahmed
BBC Business editor

David Gauke - "Clearly HSBC have got questions to answer". No suggestion that Lord Green knew of the behaviour

Radio 5 live

Market commentator David Buik says expecting Lord Green (the man in charge of HSBC at the time) to answer questions on HSBC bankers' practices is "like asking Lord Hall what the junior producer on 5 Live is doing". He adds: "I suspect he [Lord Green, that is] knew virtually nothing about this".

Nick Robinson
Political editor

Well well. Lord Green - the former boss of HSBC who won't answer questions re it's tax avoidance - is a vicar. Thoughts @JustinWelby?

Image source, us navy

Rolls-Royce says it has been awarded three contracts, external worth up to $442m (£290m) to produce and maintain the vertical landing systems for new F-35B fighter jets.

Nick Robinson
Political editor

Why did Tories give peerage to HSBC boss at time of tax evasion and make Lord Green trade minister? Claim he was cleaning up bank.

BBC Breakfast

'Questions need to be answered by Ed Balls who was City Minister at the time' - @DavidGauke [Financial Secretary to the Treasury] tells us

Paul Lewis
Presenter, Money Box

Meanwhile, in the real non-HSBC world, 160,000 care workers being paid less than minimum wage costing them £815 each

Nick Robinson
Political editor

"Labour say HSBC role in tax avoidance may date back to 2006/7 when @EdBallsMP was City minister but it didn't emerge till '10."

BBC Radio 4

Margaret Hodge, who leads the UK's Public Accounts Committee, is on Today. She says: "HMRC have had a list of about 7,000 individuals who had bank accounts in Switzerland... it contacted 1,100 and prosecuted one." Other countries are prosecuting the bank, but the UK isn't, she adds.

For its part, HSBC denies that all these account holders were evading tax, and says that since 2007, it has "implemented numerous initiatives designed to prevent its banking services being used to evade taxes or launder money". You can read the bank's statement in full here., external

BBC Radio 4

Image source, Getty Images

Richard Bilton of BBC's Panorama is on Today. The data on HSBC, he says, includes accounts for 6,000 British clients. One millionaire was provided with a foreign credit card so he could withdraw money without being spotted by the taxman. As part of Richard's investigation, he tried to talk to HSBC's boss at the time, Stephen Green (pictured), who declined to comment.

Image source, Getty Images

Mark Carney, the governor of the Bank of England, is worried. He is worried about "financial reform fatigue" across the globe. Speaking ahead of the G20 meeting of finance ministers and central bank governors in Istanbul, he added there is a risk of "financial abandonment" of either countries or financial institutions. Worrying stuff indeed.

BBC Breakfast

These revelations, Mr Brooks adds, are "every bit as serious" as the Libor banking scandal, and "probably more widespread". He says the documents show that HSBC bankers "thought they could get away with it". After discussing how to set up an undeclared account with one client, one banker writes that "they repaired to the Ritz for a very enjoyable lunch".

BBC Breakfast

Mr Brooks reminds us that while we don't know quite how much UK tax was evaded by HSBC, "about 10 years ago the tax authorities estimated the amount they lost every year from offshore accounts, and that was around £3bn back then".

BBC Breakfast

Former tax inspector Richard Brooks is on Breakfast, explaining how HSBC set up "secret accounts" to help its richest clients evade taxes. "Government has been sitting on this information for five years," he says, bemoaning the lack of prosecutions. "There is clear evidence of criminal activity ... If [the accused] had been benefits claimants, they would have been up before the magistrates very quickly."

Ed Miliband says a Labour government would increase paternity leave from two to four weeks - and almost double the pay to £260. He contends that Britain's future depends on the success of modern working families.

Radio 5 live

Fixed rate mortgages rates in the UK have fallen to the lowest level on record. This week, mortgage rates have been cut by Norwich and Peterborough Building Society, HSBC and Barclays. Sue Noffke, UK Equities Manager at asset management firm Schroders, tells Wake up to Money that the drop is down to the fall in borrowing costs for banks - largely down to fiscal stimulus policies. But, she adds, while rates are low, getting approved for a mortgage is getting increasingly difficult.

Image source, AP

The big story overnight is that a huge tranche of leaked documents from 2007 show a Swiss subsidiary of HSBC helped customers cheat the taxman out of millions of pounds. We'll bring you more details of the leaks ahead of a BBC Panorama special tonight, and reaction from the business world.

Chris Johnston
Business reporter

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