I listened recently to various radio programmes exclaiming at the proposed level of fines that the UK Banks will have to pay out for mis-sold PPI credit insurance, LIBOR rigging and mis-selling of interest rate swaps and my gut feeling was - fining the banks is all well and good - the boom years were ones when risks were taken, targets driven and we lived in a different economic climate - but who ultimately will pay the price?

The Banks are already finding capital expensive which directly affects their ability to lend in the way they did years ago and if we simply see more pressure put on their capital then the costs of borrowing and availability of funds is bound to be adversely affected. We need to see the Banks able to invest in creaking IT systems and to free up capital to assist in our shaky recovery.