MP Rushanara Ali joins Ed Miliband in Aldgate as he calls for end to casino banking
The MP for Bethnal Green and Bow joined Labour Leader Ed Miliband as he called for a move away from casino banking during a visit to Aldgate yesterday.
Rushanara Ali and the opposition leader were visiting the Co-Op Bank on Prescot Street, along with Shadow Chancellor Ed Balls and Shadow Business Secretary Chuka Umunna.
Addressing banking staff Mr Miliband said: “I’m going to describe how we move from the casino banking we have to the stewardship banking we need.
“We need a banking system where bankers are not given an incentive to focus on the short-term return. But to build a long-term, trusted relationship with their customer.
“A banking system where no one bank feels either too big to fail or too powerful to be challenged. But where all banks face real competition and customers have proper choices.”
You may also want to watch:
Ms Ali said afterwards: “I was delighted to welcome the Leader of the Labour Party to my constituency as he set out his clear vision for banking reform, including a code of conduct for bankers.”
- 1 Driver, 18, wanted for driving wrong way through Blackwall Tunnel
- 2 Luxury Canary Wharf flats going for lower rent set by the council
- 3 Building new tower block starts on Limehouse Triangle 'wildlife site'
- 4 Capacity at West Ham's London stadium to increase to 62,500
- 5 Study asks: why are canals and rivers a watery lifeline during pandemic?
- 6 Isle of Dogs man who murdered teenager at Crossharbour DLR sentenced to 27 years
- 7 Fines totalling £361k handed to East End landlords and agents
- 8 Liverpool Street to Shenfield line suspended as person hit by train
- 9 Report reveals scale of support offered by council during Covid crisis
- 10 14 charged with alleged drug dealing and money laundering offences