Sants to Review UK Banks for Competitiveness – 19th May 2015
The British Bankers’ Association (BBA) said former top regulator Hector Sants will lead a review of Britain’s competitiveness on behalf of the banking industry, ahead of a UK referendum on its membership of the European Union. BBA Chief Executive Anthony Browne said on Tuesday banks were increasingly concerned about how Britain is becoming an uncompetitive place to do business. “Some banks have recently moved operations and jobs out of the UK due to punitive hikes in bank taxes. Other banks have deferred decisions about whether to invest in Britain until after the referendum,” he said. The BBA said it aims to deliver Sants’ report to the government with a series of recommendations in the autumn. UK Prime Minister David Cameron has pledged to renegotiate Britain’s ties with Europe and then give voters an in-out referendum on EU membership by the end of 2017.
Steve Slater – Reuters