JOINT

Parliamentary Commission on Banking Standards questions Sir Donald Cruickshank

23 October 2012

The Parliamentary Commission on Banking Standards will hold its fourth public session on Wednesday 24 October with Sir Donald Cruickshank giving evidence.

Witness

9.30am in the Grimond Room, Portcullis House

  • Sir Donald Cruickshank, Leading expert in competition in retail banking

Sir Donald Cruickshank was asked in 1998, by the then Chancellor of the Exchequer Gordon Brown, to examine competition in UK banking services. Sir Donald’s subsequent report 'Competition in UK banking' was published in March 2000.

The report, amongst other issues, looked at competition with respect to banking services for personal retail consumers, banking services and external finance for SMEs and the market for money transmission systems. The PCBS will be interested to hear from Sir Donald as to whether competition in retail banking has improved since his original report, what further measures are required to strengthen competition and whether policymakers should focus on solutions based upon ease of switching providers or on encouraging new market entry.

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