HSBC blame game begins: Ed Balls under fire as former City Minister but Labour asks why bank boss was made a Tory peer

‘Ed Balls faced calls to ‘come clean’ about Labour’s failure to tackle tax evasion while he was City Minister in the wake of revelations HSBC helped 7,000 wealthy Britons avoid millions of pounds in tax.

Britain’s biggest bank is alleged to have used its Swiss private banking arm to help their super-rich clients, including celebrities and royalty, to evade tax and also advised them how to stay one step ahead of UK tax law.

The Tories and Lib Dems seized on the revelation to question the role of Mr Balls, who was City Minister from May 2006 to June 2007.

But Labour responded with questions about why former HSBC boss Stephen Green was appointed a Tory peer and trade minister by David Cameron.’

Read more: HSBC blame game begins: Ed Balls under fire as former City Minister but Labour asks why bank boss was made a Tory peer