Osborne to drive through BoE’s new supervisory powers

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The UK government is keen to drive through new legislation under its latest Financial Services Bill that will give the Bank of England statutory powers for prudential supervision, according to the UK's chancellor of the exchequer, George Osborne.

Osborne on Thursday told the House of Lords Economic Affairs Committee he did not want to try to push all aspects of the so-called ‘Vickers report' into law immediately for fear this could delay legislation aimed at granting new powers to the central

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