Former Lib Dem Treasury spokesman: Banking reform should not wait till 2019

Lord Oakeshott, former Liberal Democrat Treasury spokesman, tells Sky News that banking reforms should not wait till 2019:

"No-one's going to wait till 2019. This is not the correct figure, this is just a date by which the whole thing and all the dots, all the 'I's are dotted and 'T's crossed and so on.

"It's a long-stop date and it's quite different from saying that the main reforms won't be through much more quickly and that's what we're discussing and there's the perfect way to do it in parliament.

"You pass the laws, the rate at which obviously you finalise the details is something else."