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