Jonathan
Reynolds MP, Labour’s Shadow City Minister, responding to reports that city
financiers have been jailed over £245m loans scam, said:
“It’s
welcome news that this gang have been prosecuted and sentenced. All those
tempted to game the system and commit fraud against the public should know from
the sentences passed that they’ll pay the price.
"Lack
of faith in the financial sector is bad for the public and bad for the sector
itself. The Government needs to do more to reassure people that the bad
practices have ended. For a start, Philip Hammond should reinstate the
commission on culture in banking cancelled by his predecessor.”
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