DO YOU WELCOME CONFIRMATION OF THE BREAK-UPS?
PAUL MUMFORD CAVENDISH AM
“The agreement to limit cash bonuses at both banks is evidently a political gesture rather than a move designed to tackle the structure of the financial system or remuneration itself.”
JOHN CRIDLAND CBI
“The priorities for the government must be financial stability and reduced risk for the taxpayer. It has done the right thing in difficult circumstances by helping these banks.”
VINCE CABLE LIB DEMS
“Until we can split up the banks in a meaningful way, so that taxpayers will not be forced to underwrite casino activities, all banks should pay a premium for the explicit support they receive.”
CHARLIE MENEGATOS ACCENDO
“This will reduce the risk borne by the taxpayer, improving value for money; RBS will participate in the APS under revised terms that improve incentives and deliver better risk-sharing.”
GEORGE OSBORNE TORIES
“We welcome the decision to do what the government was initially reluctant to do and enforce a partial break up of the banks… something we proposed over six months ago.”
STUART FRASER Canada
“These divestments… will help to provide greater consumer choice especially if new players improve the supply of funds as the government pulls back its support.”
DAVID FROST BCC
“These plans have the potential to increase availability of finance to business. Without access to finance for viable businesses, the UK economy will pay a serious long-term price.”
JONATHAN JACKSON KILLIK
“The announcements from Lloyds Banking Group and RBS provide further clarification over the financial stability of the part-nationalised UK banks.”