Arab Today, arab today britain\s labour leader vows to break up banks
Last Updated : GMT 08:07:11
Arab Today, arab today
Arab Today, arab today

Britain\'s Labour leader vows to break up banks

Arab Today, arab today

Arab Today, arab today Britain\'s Labour leader vows to break up banks

London - AFP

Britain\'s opposition Labour leader Ed Miliband vowed on Sunday to break up the country\'s biggest banks if his party comes to power at the next general election. Miliband, whose party enjoys a 10-point lead in the latest polls, told the Observer newspaper that Labour would force banks to split their \"casino\" investment arms from their retail operations if they did not do so voluntarily. \"Either they can do it themselves, which frankly is not what has happened over the past year, or the next Labour government will, by law, break up retail and investment banks,\" he told the paper. Speaking ahead of the party\'s annual conference, which opens in Manchester, northwest England on Sunday, Miliband urged banks to focus less on \"playing the international money markets\" and more on lending to small businesses. Under plans by Britain\'s Conservative-led coalition government, banks have until 2019 to ring-fence consumer and small business accounts from their high-risk investment arms. But Labour accuses the coalition of watering down reforms proposed a year ago by a report commissioned by the government in the wake of massive state bailouts of major British banks during the financial crisis. Bank of England chief Mervyn King has also warned that banks are lobbying for a weakening of the proposals. In a later interview with BBC television, Miliband said his party would raise £2 billion ($3.2 billion, 2.5 billion euros) by taxing bankers\' bonuses, and would bring back a top tax rate of 50 percent for Britain\'s highest earners. \"If there was an election tomorrow that is what we would do,\" Miliband told the BBC. The government lowered the top tax rate to 45 percent for incomes over £150,000 ($242,000, 188,000 euros) in the last budget in March. But Miliband admitted that as Britain struggles to reduce its massive deficit, some of the current government\'s austerity cuts would continue if Labour returns to power after the next election in 2015. \"There will be tough decisions that we\'ll have to make as a government,\" he said. \"Yes, there would be cuts if we were in government. But if you make the pace of those cuts slower, if you take less money out of the economy now, it would be better for the economy, better for growth.\" Miliband, Labour\'s leader since 2010, is under pressure to boost his stubbornly poor personal ratings during his party\'s five-day conference. After 13 years in government under prime ministers Tony Blair and Gordon Brown, Labour was defeated at the last election in 2010 and David Cameron\'s Conservatives came to power in a coalition with the centrist Liberal Democrats.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain\s labour leader vows to break up banks Arab Today, arab today britain\s labour leader vows to break up banks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain\s labour leader vows to break up banks Arab Today, arab today britain\s labour leader vows to break up banks

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday