Financial Secretary to the Treasury, Greg Clark, made a statement in the House of Commons on Monday 18 March 2013, about banks in Cyprus
Chris Leslie, Shadow Minister to the Treasury, responded to the statement on behalf of the Opposition.
Oral statements are made after Question Time (or at 11am on a Friday) and after any Urgent Questions.
Statements normally relate to matters of policy or government actions. At the end of a statement, MPs can respond or question the government minister on its contents.