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UK banks urge new government to ensure they remain competitive

The British Bankers' Association has urged the new Conservative government to ensure the industry remains globally competitive and said it would work constructively with them to do so. 

PHOTO: AFP

MAY 8, 20156:31 PM

[LONDON] The British Bankers' Association has urged the new Conservative government to ensure the industry remains globally competitive and said it would work constructively with them to do so.

"We need to focus now on implementing the reforms that have already been legislated for, and ensure that banking - our biggest export industry - remains globally competitive," BBA Chief Executive Anthony Browne said.

The Conservative party is set to form the next government, removing fears of a break-up of the biggest banks and further hikes in a tax on banks' assets.

REUTERS