Vince Cable has said the coalition will push ahead with banking reforms despite opposition to the speed of changes.
The business secretary was responding to the criticisms of CBI director general John Cridland who has suggested that acting now may damage the economic recovery.
Proposals include ringfencing banks' retail operations and ensuring taxpayers avoid liability in future for banking collapses.
The reforms align with the recommendations made by the Independent Commission on Banking in their April interim report. They are due to publish a final report on September 12th.
Chris Leslie, Labour's shadow treasury minister, urges the government not to duck out of banking reforms.
David Hillman, spokesperson for the Robin Hood Tax campaign, urges government to ignore bank lobbyists and push ahead with reform.
Andrew Lilico, from financial consultancy Europe Economics, says it is amazing serious banking reforms are yet to be introduced.
John Cridland, CBI director general, warns against rushing into banking reform due to economic risks on the Today programme.
Vince Cable, Liberal Democrat business secretary, accuses banks of being disingenuous over reform.
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