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Expert calls for reforms to the banking sector
Posted by Mark Cunningham
Consumers are likely to benefit from enhanced levels of competition within the UK's banking sector following the publication of a review by the Independent Commission on Banking (ICB), it has been suggested.
The body today (April 11th) released its Interim Report on the market, in which it outlines its preliminary suggestions to policymakers with regard to the future direction of the arena in the wake of the global economic downturn ahead of the complete paper later this year.
John Walker, national chairman of the Federation of Small Businesses (FSB), noted this document "provides a measured view of the issues that face the banking sector in the UK" and stated that the government should "be bold and use this opportunity to bring greater competition" to the arena.
Mr Walker described reforms to the arena as "imperative" in order to "provide better service, better products and drive prices down" for Britons following the recession.
11/04/2011 16:07
News category: Consumer