Ed Balls backs proposals to jail reckless bankers

The shadow chancellor Ed Balls has said that proposals to jail reckless bankers "is the way forward."

Mr Balls added: "The challenge now is to make sure we don't have a repeat of these issues in the future. The Government needs to act now."

Advertisement

Proposals to jail reckless bankers

Senior bankers should be personally responsible for malpractice, with a new criminal offence of reckless misconduct in the management of a bank that carries a custodial sentence, the Banking Commission has concluded in its final report.