Clegg: 'Banking system needs to be made safe'

The Deputy Prime Minister Nick Clegg has said the UK banking sector must be reformed so that taxpayers were never again liable for its mistakes.

He said a 'sustainable and prosperous' banking sector was needed and there was a strong case to separate high risk and low risk banking.

Mr Clegg told Andrew Marr the Independent Commission on Banking was set up to look at various models on how to split the banking sector.

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