Bank Reform
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Asked whether the Prime Minister thought the Chancellor’s announcement in the Commons today on banking regulation would have any impact on ordinary people, the Prime Minister’s Spokesman (PMS) told the assembled press that he did.
When asked to clarify, he responded that there had been a failure in banking regulation in many countries, and as a result governments had stepped in to protect people’s savings and to support the banking system. Clearly this meant that all people in the UK had an interest, as taxpayers’ money has been used to prop up the banking system. It would therefore be in their interests for the country to have a decent regulatory system.
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