WHITE PAPER
July 9, 2009
‘ Yesterday's White Paper shows careful consideration of the issues facing banks, regulators and our government, and we welcome it for that.
"But it could only ever be part of the picture. Over the next 12 months or so there will be a number of decisions made at EU and international levels that will not only affect our banks, but they will have an impact across other sectors of the financial services industry as well. So overall, it is a work in progress and I don't envy the Treasury officials who are trying to make policy when the framework within which they are doing so is subject to so much uncertainty. The prospect of a UK General Election sometime soon, with quite different policy positions being adopted by the Government and its possible successor, only adds to the number of variables."
Owen
