Published: 21st Jul 2009

The Conservatives and Labour have both been setting out their plans for banking reform over the past week or two. First we had the government’s ‘Reforming Financial Markets’ White Paper – http://www.hm-treasury.gov.uk/reforming_financial_markets.htm – with Alistair Darling setting out proposals that seem incredibly modest, relative to the scale of the recent banking crisis. At a whopping 176 pages it’s not the friendliest White Paper you’ll ever see and its length and the jargon-heavy tone somewhat undermine its talk of ‘consumers being better informed’. Cynics might even suggest it’s designed to exclude consumers from actually engaging with the subject of banking reform.  Then on 20th July we got ‘From Crisis To Confidence: Plan For Sound Banking’, the Conservative’s policy White Paper – http://www.conservatives.com/News/News_stories/2009/07/Our_plan_for_sound_banking.aspx. Under a fanfare of ‘radical reform’ George Osborne set out proposals to abolish the tripartite system – with the Bank of England, the Financial Services Authority (FSA) and the … (To read the full article, subscribe below)