Banking Commission report
A deadline of 2019 for banks to implement radical reform has been put forward by the Independent Commission on Banking report.
The report calls for banks to ringfence their high street banking operations from their riskier investment banking arms in an attempt to prevent the need for any future taxpayer funded bailouts.
However the timetable for reform is already causing controversy with many MPs, consumer groups and trade unions questioning why change cannot take place sooner.
John Denham, Labour's shadow business secretary, welcomes Independent Commission on Banking report but calls for the government to address lending issues.
Ed Balls, Labour's shadow chancellor, responds to the Independent Commission on Banking's report and urges for it to be the start for reform not the end point.
Lord Oakeshott, former Liberal Democrat Treasury spokesman, tells Sky News that banking reforms should not wait till 2019.
The British Bankers' Association point to progress made by UK banks in implementing reforms and caution against new reforms which have not been risk-evaluated.
George Osborne, chancellor, welcomes the Independent Commission on Banking report and indicated that the government plans to stick to it.
David Fleming, Unite national officer, accuses the government of kicking banking reform into the long-grass.
Peter Vicary–Smith, chief executive of 'Which?' comments on the Independent Commission on Banking's final report.
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