06/07/2012 04:56 BST | Updated 06/07/2012 04:57 BST

John Lydon On 'Question Time': Punk Pioneer Against Banking Parliamentary Enquiry

Punk pioneer John Lydon offered his own unique insight on the banking crisis when he appeared on current affairs programme Question Time.

The former Sex Pistols frontman said he was against a parliamentary inquiry into the industry - comparing the situation to stealing a car.

Appearing as a panellist on the BBC1 show, he said: "How on earth is Parliament going to discuss this really when both sides, left and right, are connected to this? This doesn't just go back to Brown, this is part of the ongoing problem. Mr Diamond (former Barclay's boss Bob Diamond) comes from Wall Street...hello.

"Both parties love this idea. They are fiddling with rates. They are affecting the world and everything we used to count on as being dependable and accurate is being discussed by these argumentative chaps. If I nick a motor I'm going to be up before the judge, the rozzers. Hello, same thing."

READ: Former Sex Pistol's Most Memorable TV Moments

Lydon, whose famously foul-mouthed appearance on Bill Grundy's Today show propelled him and his former bandmates into the headlines and wrecked the broadcaster's career in 1976, managed to keep keep the airwaves clean during his appearance.

But he clashed with Conservative MP Louise Mensch over the topic of legalising drugs.

Lydon, formerly known as Johnny Rotten, said: "I don't see why these things should be illegal if the correct information is out there. Here's the problem - you can kill yourself with two tablespoons of table salt. Are you now going to ban table salt? Let us as human beings determine our own journey in life."

The former hellraiser prompted laughs from the audience when he said: "For me personally, I don't want my drugs taxed."

READ: Louise Mensch: 'I Did Class A Drugs And They Messed With My Brain'

Lydon also offered his tuppanceworth on the announcement that the Army is to be reduced in size, saying: "One of the most beautiful things about Britain, apart from the NHS and the free education, is the British Army."

The show, which was filmed before an audience in Derby, also featured former home secretary Alan Johnson, Energy and Climate Change Secretary Ed Davey and journalist Dominic Lawson on the panel.