Yesterday the Home Secretary gave a detailed statement and took questions for over an hour on the events last week
The full transcript is here: http://www.parliament.uk/business/publications/hansard/commons/todays-commons-debates/read/unknown/166/
The key passages are here:
"As the appalling events in Paris were unfolding, this House was debating the Government's Counter-Terrorism and Security Bill, and the threat level in the United Kingdom—which is set by the independent Joint Terrorism Analysis Centre—remains at severe. This means that a terrorist attack in our country is highly likely and could occur without warning.