Chancellor George Osborne
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George Osborne confirms bank separation

George Osborne has confirmed he will ring-fence the retail operations of all banks from their more risky investment activities.

He said the separation would not prevent banks failing, but if they got into trouble, "those elements of the banking system that are vital for families, businesses and for the whole economy will be able to continue without resort to the taxpayer."

  • 19 Dec 2011
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