The Tories have quietly dropped a crackdown on fatcat bosses who preside over reckless behaviour in Britain’s banks.
Labour and Lib Dem peers voiced their fury today after the move was slipped without fanfare into an obscure section of a new banking law.
Lib Dem Baroness Kramer accused “outrageous” George Osborne of “buckling to pressure from his friends in the banks” – and warned it could allow bosses to turn a blind eye to another LIBOR rate-rigging scandal.
The ex-MP told the Mirror: “People are no longer talking about the banks so the Tories think they can go easy on them.
“The government claims the rule will make it hard to hire good people. They’ve obviously been in conversation with the banks to come up with statements like that.”
Join the Vox Political Facebook page.
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: