More competition needed in banking sector: Darling
Competition is `essential' ingredient for growth.
Competition is `essential' ingredient for growth.
Chancellor Alistair Darling wants to see increased competition in the
financial sector which he believes is a key ingredient for markets to recover
from the global financial crisis.
Darling said he wanted to see the entrance of smaller non-bank players into
the market describing this as an`essential’ ingredient to maintain competition
and promote growth, nebusiness.co.uk reported.
“We want to see greater competition and choice for consumers as well as a
bigger role for mutuals…We need to promote a competitive market, with
non-banking institutions,” he said.
According to nebusiness Darling hinted that the sale of Northern Rock might
be a means to achieve this aim.
He said the government would dispose of Northern Rock, “as soon as
appropriate in a manner that will promote competition for retail services”.
Read the full story:
Northern
Rock speculation amid building society calls
More about:
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleCompanies will have more trouble raising funds with floating charges as HMRC’s preferential status puts off lenders Read More...
View articleThe Bank’s interest rate cut to 0.25 percent comes amid a list of incentives for SMEs Read More...
View articleHMRC filed 3,484 winding up petitions in 2015, up from the 3,074 applications filed the previous year Read More...
View articleSuggestion R3 has 'rolled over' in face of government pressure is false, incoming president Andrew Tate tells Accountancy Age Read More...
View articleWinding-up order against Montpelier Professional withdrawn, CEO tells Accountancy Age Read More...
View articleBeleaguered Championship football club Bolton Wanderers pays off remaining £2.2m owed to taxman Read More...
View articleSports Shield consortium, fronted by ex-Bolton striker Dean Holdsworth, and Inner Circle, have taken control of Eddie Davies' 94.5% controlling share ...
View articleSolicitors at High Court to run through plans for a buy-out of club by consortium led by former striker Dean Holdsworth Read More...
View article