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Moore: UK is going the right way on banking reform

Secretary of State says the Independent Commission on Banking's report is a step in the right direction for Scotland

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Secretary of State for Scotland Michael Moore today (Monday 12 September) welcomed the final report of the Independent Commission on Banking.

Moore said: “The UK Government set up the Independent Commission on Banking to tackle issues that are absolutely vital to the stability of the Scottish and wider UK banking systems. That is hugely important to Scotland, where the banking sector is one of the key engines of our economy.

“The report represents an important step towards ensuring that Scotland and the UK are home to successful, globally competitive banks that lend to families and businesses, while shielding taxpayers from the effects of future problems in the banking system.

“We are committed to bringing stability to the Scottish and UK banking sector and legislating during the course of this Parliament to implement the report.”

Published 12 September 2011