December 12 2013 Latest news:
Else Kvist, Reporter
Tuesday, July 10, 2012
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.”
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.”