Statement on Banking Commission Report

20 December 2011

Chancellor of the Exchequer, George Osborne, made a statement in the House of Commons on Monday 19 December on the government response to the Independent Banking Commission Final Report.

Independent Commission on Banking Final Report

On 16 June 2010, the Chancellor of the Exchequer announced the creation of the Independent Commission on Banking (ICB), chaired by Sir John Vickers. The Commission was asked to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition and published its final report on 12 September 2011.

On 19 December 2011 the Government published its response to the report by the Independent Commission on Banking. Read the ICB final report and the government response on the ICB and Treasury websites. 

Shadow Chancellor of the Exchequer, Ed Balls, responded to the statement on behalf of the Opposition.

Watch and read the statement and the views expressed by MPs on Parliament TV and in Commons Hansard. Also find current parliamentary material on Economy and Finance in the Topics and News sections.

Oral statements

Oral statements are made after Question Time (or at 11am on a Friday). Statements normally relate to matters of policy or government actions. At the end of a statement, MPs can respond or question the government minister on its contents.

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