PARLIAMENTARY WRITTEN QUESTION
Financial Services (19 February 2016)

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the likely effectiveness of the ring-fence between retail and investment banking in reducing the interconnectedness of the UK financial system; and if he will make a statement.

Asked by:
Richard Burgon (Independent)

Ring-fencing will introduce a high degree of operational and economic independence between core retail banks and broader financial markets. The Independent Commission on Banking in 2011 recommended the ring-fencing of retail from investment banking to promote financial system resilience, and the Government agreed with this recommendation.

Answered by:
Dame Harriett Baldwin (Conservative)
29 February 2016