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ICB bank reforms will help boost economy says UK govt

Business

12-09-2011 | 02:52

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ICB bank reforms will help boost economy says UK govt

The British government backed the Independent Commission on Banking's final report into proposed reforms for the banking sector, saying on Monday its measures would help boost the economy and protect taxpayers in case of future crises.

"The government welcomes final report of the Independent Commission on Banking," a government spokesman said.

"The Chancellor (finance minister) considers it to be an impressive report and an important step towards a new banking system that supports lending to businesses and families, supports the economy and jobs, but does not cost the taxpayer billions of pounds when it goes wrong," he said.
-Reuters

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