Banking Commsions Future Evidence Sessions See Some Big Names

Which? Reports that several of the UK banking industry’s most influential people were confirmed to be witnesses at the Future of Banking Commission’s evidence sessions. Witnesses include Mervyn King, Bank of England Governor, Lord Myners, City Minister, and Lord Turner, Financial Services chairman.  Members of the Future of Banking Commission include chairman Rt Hon David Davis MP, Dr. Vince Cable MP, Rt Hon John McFall MP, Philip Augar, Clare Spottiswoode, Roger Bootle and David Pitt-Watson.  Also included in the Commission is the chief executive of Which?,  Mr. Peter Vicary-Smith.

What makes this enquiry different from previous enquiries of this sort is that the Future of Banking Commission is also allowing members of the public to give evidence, which was gathered across the UK to be fed into the February 4th Big Banking Debate before it was given to the Commission.

A wide variety of representatives from many different viewpoints were invited to give evidence for these sessions, from journalism, business, academia and from the banking industry itself.  Members of the public are also welcome to attend to offer their insight on banking reform.  The sessions are scheduled for February 9th and 25th, and March 18th in central London at Royal Society of Arts and Riverbank Park Plaza.  Space has been allotted for members of the public, press and any other parties interested in attending.  People who are interested in attending evidence sessions can register by visiting www.which.co.uk/banking.

Peter Vicary-Smith, chief executive of Which? Expressed delight in the fact that so many of the banking world’s key players recognised the importance of the commission.  It puts the general public’s views at centre stage in the re-structuring of the banking industry to make it more able to meet everyone’s needs.

Future of Banking Commission chairman, Rt Hon David Davis MP said that the Commission aims to determine exactly what type of banking system is needed by Britain as they emerge from this financial crisis.  They intend to take evidence from all areas, including consumers, industry and regulators as a means of establishing the most constructive reform in the interest of borrowers, savers, and the overall economy.  The Commission is using the evidence gathered to create a proposed model of the financial structure that will be able to provide high levels of service without risking the well being of taxpayers.