Commons Sense

House of Commons · Written Ministerial Statement

Reforms to bank ring-fencing

14 October 2024 · Treasury

Proposed by Tulip Siddiq Lab Hampstead and Highgate

Business & Trade

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • Reforms to the bank ring-fencing regime are based on recommendations from Sir Keith Skeoch's independent review.
  • The government plans to implement a package of reforms to improve competition and competitiveness in the UK banking sector.
  • These reforms aim to maintain financial stability while being implemented.

Issue summary

This statement addresses reforms to the bank ring-fencing regime based on recommendations from Sir Keith Skeoch's independent review.

Action requested

The government will implement a package of reforms as soon as parliamentary time allows, aiming to improve competition and competitiveness in the UK banking sector while maintaining financial stability.

Key facts

  • The statutory independent review was led by Sir Keith Skeoch.
  • The review reported in March 2022.
  • The reforms will support economic growth.
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