The British Bankers’ Association (BBA) has commented that the competitiveness of financial services should be a national concern and highlighted that the UK’s relationship with the EU is a major concern for the industry.
The BBA also commented that, since the crisis, legislators and regulators have introduced reforms to make the banking system safer and have undoubtedly improved the stability of the industry. However, the challenge for the government now is making sure there is a much more stable industry that can also compete globally. The BBA cited the Bank Levy and the regulator as examples of reasons for a decline in international competitiveness.
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