The Great Debate UK

Time to discuss the future of banking


New Peter Vicary Smith- Peter Vicary-Smith is the chief executive of Which? The opinions expressed are his own. -

Since the financial crisis in October 2008, a number of reports have looked at the causes and consequences of the crisis and suggested possible solutions, but they’ve all been written from the perspective of bankers.

Ordinary people have been hit hardest by the recession and have been asked to bail out the crippled banks with their taxes but they haven’t been asked how they think banks can change for the better. Failing to ask banks’ customers – for we all have to use banks in one form or another – is missing a trick.

This is why Which? has joined with leading politicians and banking industry stakeholders to establish the Future of Banking Commission – to give ordinary people the chance to add their voice to the debate about how the banking system should be reformed so that we can avoid a repeat of the financial crisis.