Monday 23 April 2018

Nicholas Leonard: Tories on top as Cameron has banks in his sights

Nicholas Leonard

British Prime Minister David Cameron is defying intense pressure from top bankers in the City of London and pushing ahead with the biggest revolution in the financial services industry for a generation.

Mr Cameron has a reputation for favouring financiers but many of them are furious that he has decided to try to avoid crises in future by making the banks separate the high-return but higher-risk business of investment from the more routine activity of simply taking in money from some customers and lending it on to others.

The details will be given by Chancellor George Osborne in the Commons today.

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