Sir John Vickers
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Vickers: Banks 'must be ring-fenced'

The head of the Independent Commission on Banking, Sir John Vickers, has said its long-awaited report on bank reform should get the taxpayer "right off the hook" in any future banking crisis.

The report calls for far-reaching measures to shield ordinary customers from riskier investment banking.

The chancellor has already said that all its recommendations will be implemented, with legislation being introduced in this Parliament.

It is scheduled to take effect by 2019.

Sir John Vickers explained how it should work.