The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012.
Financial Services (Banking Reform) Bill (352 KB , PDF)
The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012. The Bill sets out a new structure for banking with a central element being the ‘ring-fencing’ of banks which separates retail deposit and lending from investment banking operations. This Library Note provides a précis of the report stage and third reading of the Bill in the House of Commons. The Note should be read in conjunction with two House of Commons Library Research Papers: Financial Services (Banking Reform) Bill (28 February 2013, RP 13/15), which contains more detailed information on the background to the Bill, and Financial Services (Banking Reform) Bill: Committee Stage Report (25 June 2013, RP 13/40), which summarises the second reading and committee stage in the House of Commons. House of Commons Library Standard Note, LIBOR, Public Inquiries & FSA Disciplinary Powers (2 May 2013, SN/BT/6376), also offers useful background commentary relevant to the Bill.
Financial Services (Banking Reform) Bill (352 KB , PDF)
The Government’s ‘green book’ is guidance on how to appraise public sector policies, programmes and projects. In January 2025, the Chancellor of the Exchequer Rachel Reeves announced a review of the green book. The review’s conclusions were published in June 2025 and are designed to improve the effectiveness of public sector appraisal. The Treasury will release an updated green book in early 2026.
In September 2024 the House of Lords Communications and Digital Committee launched an inquiry into the scaleup challenges facing startup enterprises working with artificial intelligence (AI) and creative technology. In a report published in February 2025, the committee warned the UK risked becoming an incubator economy where UK startups developed innovative products and services before selling out or moving abroad. This briefing summarises the report’s recommendations and the government’s response.
The government has committed to reducing and reclaiming public money lost to fraud and error. The Public Authorities (Fraud, Error and Recovery) Bill contains provisions to extend Cabinet Office and Public Sector Fraud Authority powers to tackle fraud and error outside the tax and benefits system, and also expands powers to tackle fraud within the benefits system. The bill is due to have its second reading in the House of Lords on 15 May 2025.
