Osborne to announce enhanced bank saver protection

According to reports George Osborne is set to unveil a white paper on banking reform around lunchtime. The paper follows recommendations made by the Independent Commission on Banking (IBC). The BBC reported one of the main proposals is to ring-fence High Street retail banking operations from riskier parts of its business, such as investment banks. Osborne will discuss the planned reforms at his annual Mansion House speech tonight, the report added. He will say: "We've got to stop problems here in the City of London spilling onto our High Streets and putting taxpayers' money at risk...