Osborne quizzed over banking commission recommendations

george osborne

The UK Chancellor of the Exchequer, George Osborne, was pressed by the Parliamentary Commission on Banking Standards yesterday to explain why he has diluted its proposals on capital ratio rules, and on splitting up investment and retail banking operations from new UK banking legislation.

Pat McFadden, an MP from the opposition Labour party, quizzed Osborne on why he had rejected the commission's proposal to enforce separation of investment and retail banking operations in the UK – in favour of a

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