A senior Bank of England official said that if some banks moved overseas in response to tougher UK regulation, “it might be a price worth paying” to protect vital financial system reform. The comments, by Andy Haldane, the Bank’s head of financial stability, in a BBC interview to be broadcast on Friday, will add to tensions between the authorities and the financial sector, which has already attacked the government’s new 50% bank bonus tax.

This entry was posted by Gwen Robinson on Friday, December 18th, 2009 at 5:23 and is featured in The 6am Cut London (18 Dec 2009) . Edit this entry.