COMPANIES Alistair Darling announced plans to beef up the boards of banks, claiming that the “front line defence” against failure in Britain’s financial services sector had been overrun in the build-up to the credit crunch.
The chancellor announced plans for a wide-ranging white paper – to be published around the time of this spring’s Budget – on beefing up the supervision of the banks. It is expected to lead to legislation before the general election.
