Osborne's threat to break up Britain's banks
Launching the Banking Reform Bill today at JP Morgan in Bournemouth today, Chancellor George Osborne will say:
When the RBS failed, my predecessor Alastair Darling felt he had no option but to bail the entire thing out. Not just RBS on the high street, but the trading positions in Asia, the mortgage books in sub-prime America, the property punts in Dubai.
I want to make sure that the next time a Chancellor faces that decision they have a choice. To keep the bank branches going, the cash machines operating, while letting the investment arm fail.
Under the Bill investment and high street banks will also have different bosses and a new watchdog will be set up.
More top news
Tories move to smooth 'mad swivel-eyed loons' rift
The Conservative Party has moved to head off a row with grassroots activists after a Tory ally reportedly described them as "loons".
Coronation Street dominates the British Soap Awards
Coronation Street has dominated the British Soap Awards tonight. Click here if you want to find out more.
Gove faces wrath of headteachers at union conference
Michael Gove faced the wrath of headteachers over the state of the education system, just hours after they passed a vote of no confidence.