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17/01/2014
Miliband Speech Promises Reform Of UK Banking Market
Labour leader Ed Miliband has criticised the UK's five largest banks, saying that they should be made to surrender a "significant" number of branches.
In a speech at the University of London, described as the leader's most important since the last party conference, Miliband declared that a Labour government would ensure the banking system worked for customers.
In the UK, the majority of bank customers and lending is handled by HSBC, Barclays, RBS, Santander and Llyods.
Mr Miliband said that a Labour government would boost high street competition with the creation of two "challenger" banks.
He went of to say that a "reckoning" was needed for the banking system, adding: "not for retribution but for reform."
(MH/IT)
In a speech at the University of London, described as the leader's most important since the last party conference, Miliband declared that a Labour government would ensure the banking system worked for customers.
In the UK, the majority of bank customers and lending is handled by HSBC, Barclays, RBS, Santander and Llyods.
Mr Miliband said that a Labour government would boost high street competition with the creation of two "challenger" banks.
He went of to say that a "reckoning" was needed for the banking system, adding: "not for retribution but for reform."
(MH/IT)
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