Monday, 12 September 2011

Vickers should be implemented 'speedily' but more needs to be done for investment and growth

Brendan Barber

Commenting on the final report of the Independent Commission on Banking published today, TUC General Secretary Brendan Barber said: "These proposals will make banking safer, even if on a timescale that gives the banks too many opportunities to lobby for loopholes. The government must legislate speedily to ensure that the plans are not watered down.
"But they will not do enough on their own to turn banking and finance into the engines of recovery and economic growth that we desperately need. Real banking reform would put new sources of investment such as a national investment bank and proper green investment bank at its heart."

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