Ref No95073
Alt Ref No95073
Artist or CreatorDave Brown
Title or Caption[no caption]
Extent1 item
Published byThe Independent
Date01 Sep 2011
Person DepictedCable; Vincent (1943-)
Osborne; George (1971-)
Implied textFat Cats of capitalism
NotesNews: "...The Prime Minister, who has been lobbied intensively by bank bosses, has accepted their argument that the changes should be phased in over several years. Government sources confirmed that could mean they would not take effect until after the next election, as The Independent predicted yesterday. But Mr Cameron and Mr Osborne are braced for a backlash from Sir John Vickers, chairman of the Independent Commission on Banking, which will propose ring-fencing of the banks' retail and investment arms in its final report on 12 September. Sir John will fight hard to prevent his blueprint from being shelved. Vince Cable, the Business Secretary, also wants the commission's plan implemented quickly and has won strong backing for his stance from Mr Clegg, who vowed that the reforms would go ahead. "The principle must be structural reform to ensure the banking system never again points a gun to the head of the rest of the British economy," Mr Clegg said. "Our duty to future generations is to ensure that what happened to us, partly because of appalling behaviour in the banking system, never happens again." The Prime Minister and the Chancellor acknowledge the banks' fears that an early shake-up could harm the fragile recovery. But there is nervousness in senior Conservative circles that their stance could make them seem too close to the bankers...." The Independent
government policy
lion tamers
Copyright contact
Relates to cartoon95073

Show related Persons records.

GB/BCA/8161Cable; Vincent (1943-)1943-  
GB/BCA/8134Osborne; George (1971-)1971-  
    Powered by CalmView© 2008-2019