Banking Reform
Published / Last Updated on 11/05/2010
Banking Reform – Government Announcement
by Ashley Clark, Director
The Conservative and Liberal Democrat coalition Government has announced it will implement a number of measures to reform banks.
A banking levy will be introduced with more details to follow plus a crackdown on unacceptable bonuses. Additionally, they will set up an independent commission to investigate separating retail and investment banking.
A joining of the European Single Currency has been ruled out for the time being.
Our View: The British public is now smarting after having to bail out the banks and no real signs of gratitude appearing. Banks are still not lending enough for mortgages or to businesses and bonuses are still being paid out. The new Government knows it has to get tough if Britain is to be seen as solid and strong again.
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