Brown questioned in parliament

LONDON (Reuters) - Prime Minister Gordon Brown faced questioning from a parliamentary committee on a wide range of issues on Thursday. Below are highlights of his testimony.

ON EU COMPETITION ISSUES

"The competition commissioner has got to look at financial stability issues as well as competition issues because we cannot have big banks put at risk of collapse at this particular point and it's always been understood that competition has got to work effectively but in the banking sector we've got to also ensure stability."

ON BOE'S SUCCESS IN CONTROLLING INFLATION

"The record of the Bank in controlling inflation has been very good indeed.

"Inflation has been far less of problem in the last ten years than in any previous decade and that is the success of making the BoE independent."

ON BOE'S ROLE IN SUPERVISION

"The BoE has always had a role in financial stability. The BoE is always involved in these issues affecting financial stability, but the regulation of individual institutions is better done by regulatory authorities like the FSA."

BROWN ON BOE'S KING