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Reform to the banking system is essential

The parties agree that reform to the banking system is essential to avoid a repeat of Labour’s financial crisis, to promote a competitive economy, to sustain the recovery and to protect and sustain jobs.

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Conservative - Liberal Democrat Coalition Agreement
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Banking Reform
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Reform to the banking system is essential
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A banking levy will be introduced
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Ensure the flow of credit to viable SMEs
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Foster diversity, promote mutuals for a competitive banking industry
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Independent commission on separating retail and investment banking
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Regulatory system needs reform
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Rule out joining the European Single Currency during agreement
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Tackle unacceptable bonuses in the financial services sector
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