Banking reform

31/08/11

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.

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