One of the Treasury Select Committee's chief arbiters, who was among those to grill ex-Barclays chief executive Bob Diamond over the Libor-fixing scandal, has described yesterday's hearing as "three and a half hours of waffle and of my life that I’ll never get back again".

Mark Garnier, MP for Wyre Forest and a member of the UK's Treasury Select Committee, said he was disappointed with the outcome of the much-anticipated cross examination, from which he said the committee had learned nothing.