Bank ring-fencing 'gets balance right' - Alexander

Government plans to ring-fence the banks - separating their retail businesses from their investment arms - "fall well short of what is required", a report has warned.

The Parliamentary Commission on Banking Standards wants the government to "electrify" the fence so banks cannot make holes in it.

Chief Secretary to the Treasury Danny Alexander said that he welcomed the report and would consider its additional recommendations to the government's proposals.