Reckless bankers may be jailed

Chancellor George Osborne has pledged to implement criminal penalties for reckless bankers and tighter control for bonuses as he set out the Government's response to a landmark Parliamentary commission.

But he rejected a recommendation for the abolition of UK Financial Investments (UKFI), the body that handles the state's holdings in the Royal Bank of Scotland and Lloyds Banking Group.%VIRTUAL-SkimlinksPromo%