MPs back Bill to prevent taxpayers being ‘on the hook for small bank failures’

The Bank of England, London (PA) - (PA Wire)

A Bill that will prevent taxpayers being “on the hook for small bank failures” has moved closer to becoming law.

Treasury minister Emma Reynolds said the Bank Resolution (Recapitalisation) Bill “strengthens protections for public funds”, but the opposition MPs raised concerns about the measure in the Bill being used for larger banks.