UK Government

HM Treasury: Discussion document on role of financial sector

Press Release   •   Dec 11, 2009 11:27 GMT

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

Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on
020 7270 4558 or by e-mail to public.enquiries@hm-treasury.gov.uk

This Press Release and other Treasury publications are available on the HM Treasury website
hm-treasury.gov.uk For the latest information from HM Treasury you can subscribe to our RSS feeds or email service.
Media enquiries should be addressed to the Treasury Press Office on 020 7270 5238.

Contacts

NDS Enquiries
Phone: For enquiries please contact the above department
ndsenquiries@coi.gsi.gov.uk