The UK Conservative party has pledged to back US proposals to reform "risky" banking strategies if they win the next election.David Cameron's party, which will go head-to-head with Labour in the 2010 general elections this May, said it is giving full support to Barrack Obama in his mission to regulate bankers. Shadow chancellor George Osbourne said the shadow Treasury welcomed the move which "accords very much with [its own] thinking"."I have said consistently that we should look at separating retail banking from activities like large scale propriety trading; and that this was best done internationally," he added.Under the reforms banks would not be able to use customer finances for private equity investments, unless it was directly linked to the client. It is hoped such reforms would prevent the banks from pumping public money into what is considered "risky" investing.Commenting on Gordon Brown's reluctance to commit government support to the proposals, Mr Osbourne said the prime minister now looks "very isolated".The Government has stated it wishes to look at the proposals in fine detail before any changes are implemented.Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.
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