Sarah Carr, Liberal Democrat Parliamentary Candidate for Hereford and South Herefordshire, has criticised the latest Government proposals on Banking Regulation as being nothing more than preserving 'business as usual'.
"This is a missed opportunity - the Chancellor has simply continued to protect the status quo.
"One of the main reasons for the banking meltdown was that investment banking activities were allowed to mix with normal bank lending practices on the high street. Banks that continue to act as casinos should not be propped up by tax payer's money. I think that the investment part of banks should be separated from the High Street banks to ensure that high risk investment strategies cannot undermine normal bank lending practices again in the same way.
"The Government needs to be much more active in ensuring these tax payer funded banks act in the public interest - as a start they should be required to follow government guidelines on bonuses and lending practices to businesses."
