Proceeding contribution from George Osborne (Conservative) in the House of Commons on Monday, 19 December 2011. It occurred during Ministerial statement on Banking Commission Report.
Banking Commission Report
The 2019 timetable was recommended by John Vickers in the report. People should be clear that that is the backstop. That is the final day when everything has to be implemented. In particular, if the additional capital requirements were implemented today, it might have an impact on the economy that we would not want to see. The ring-fencing legislation will be in place by the end of the Parliament and banks will be expected to comply with it as soon as is practically possible. The competition requirements will be in place by 2013. When it comes to jibes about who is working in the financial services, I seem to remember that a number of former Labour Prime Ministers are now quite lucratively paid in the financial services.
Secondary information
- Type
- Proceeding contribution
- Reference
- 537 c1085
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Costs Bank services Banks Competition Finance Incentives Standards Regulation Government responses Royal Bank of Scotland Financial Conduct Authority Independent Commission on Banking Payments Council
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 18:15:12 +0000
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