The Treasury has
today published a discussion document on possible international
options to reduce the cost to taxpayers of financial sector failures.
Risk, reward and responsibility: the financial sector and society
is a contribution to the international debate on the future of the
global financial sector.
The document highlights the importance of the financial sector to
the UK economy alongside the risks it poses to society. Whilst
some risk-taking is inherent in financial sector operations, the
recent financial crisis has shown the high cost to taxpayers when
risk-taking becomes excessive.
The document considers ways in which the financial sector might
contribute to the potential costs of any residual risks it poses
to taxpayers and to broader social objectives.
Notes for Editors
1. Risk, reward and responsibility: the financial sector and
society can be found on HM Treasury’s website at: http://www.hm-treasury.gov.uk/fin_financialsector_society.htm
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Contacts:
Adam Bahadoortemp1
adam.bahadoor@coi.gsi.gov.uk