Bank Reforms to go Ahead
Bank reforms are to go ahead to prevent banks being bailed out in the future by the public purse.
George Osborne and Vince Cable will push ahead with the plans to separate high street lenders from “casino” investment banking.
Cable, speaking of a “big structural reform” said: he government is going to launch this initiative on the banks, accepting in full the Vickers commission,” We’re going to proceed with the separation of the banks – the casinos and the retail, business lending parts of the banks … Moreover we’re going to get on with it. Both the primary and secondary legislation is going to be completed within this parliament. It’s got to be done. We can’t have a position where the big banks are too big to fail.”
Although the proposals do not go as far as a full scale split between investment banks and high street banks, there will now be ring fencing, forcing banks to place high street banking in a separate legal subsidiary. The intention is that this will prevent any taxpayer bailout of banks from happening again.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
