High fees for average returns 'should stop', warns think tank

A report on financial services from the Institute for Public Policy Research (IPPR) also suggested more should be done to make the case for a wide-ranging financial transaction tax and banks should be spilt up. The paper, Don't bank on it:  the finacialisation on the UK economy, said: "After the events of the last five years, finance - and investment banking in particular - are held in very low esteem in the UK, but a modern economy cannot function without a healthy financial sector. "For historical reasons, the UK has a larger financial sector than other similar economies and this can b...