Britain's banks were warned today that they would be broken up if they didn't separate their high street operations from their riskier investment banking arms.
Chancellor George Osborne said it was to protect the taxpayer, who would never again bail them out.
ITV News Business Editor Laura Kuenssberg reports on the banking reforms:
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Britain was warned by the government's immigration adviser it was becoming more divided as diversity increases.
Tonight mist and fog will spread northeastwards across much of England and parts of Wales. The Met Office have issued a Fog Warning.
The UK is facing "sharper disparities" in inequality despite wider global growth, but monetary policy is not to blame, Mark Carney has said.