Chancellor George Osborne
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George Osborne 'to reset banking system'

The UK's banking sector will be "reset" to empower and protect customers, the chancellor has said.

George Osborne said a series of measures, including the separation of banks' risky investment operations from High Street activities, would protect consumers.

Mr Osborne also said the government's Banking Reform Bill would see a change in the culture and ethics of the industry, and provide more choice for customers.

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