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Miliband: Bank reforms 'must go further'

The Labour leader Ed Miliband says he wants the big high street banks to give up more of their branches in order to increase the choice available to customers.

Mr Miliband believes that "challenger banks", a new model being developed as a result of the Vickers Commission into Banking, could spearhead wider cultural change.

He told The World At One's Shaun Ley that "we need a big change in our banking system so that banks properly serve the country, rather than the country serving the banks."

  • 09 Jul 2012