Ryan Bourne, Head of Public Policy at the IEA, appears on Channel 4 News to discuss the recent decision by the Bank of England to toughen its stance towards reckless bankers. New plans will allow bonuses to be clawed back up to seven years after they have been awarded. Ryan makes the point that plans to clawback bonuses, as with much of the new regulation facing the banking sector, fails to address the problem that they were bailed out by the taxpayer.
In the interview, Ryan argues that instead of focuses on compliance and regulation, we need to focus on the bigger issues, which is the creation of a regulatory regime. In the event that the banks fail again, we need to ensure that the taxpayer is not liable.
You can listen to the programme in full here. Ryan's segment begins at 00.04.00