George Osborne: Bob Diamond resignation 'right decision'

George Osborne has insisted Bob Diamond's resignation is the right decision for Barclays and the UK economy.

The chancellor of the exchequer said the country needed banks to be focused on lending money to the economy, rather than the recent lending-rate scandal.

Mr Osborne added that he hoped the move would be a "first step towards a new culture of responsibility in British banking".

BBC News