Labour's 'banking revolution'

Labour leader Ed Miliband has called for a major overhaul in the banking sector. Miliband called for an increase in the power of the Serious Fraud Office and an end to 'light touch' regulation.

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Banks need to 'start serving our country'

David Hillman, a spokesman for The Robin Hood Tax campaign, had this response to Ed Miliband's proposals to reform the banking sector:

Ed Miliband is right to call on banks to start serving our country, for too long it has been the other way around. But he is only halfway towards a comprehensive solution. Yes we should crack down on banks' predatory behaviour, but we need to do more. We need a fair deal for taxpayers from a sector whose vast profits and pay are effectively underwritten by the public purse.

– David Hillman, Robin Hood Tax campaign

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