Chris Leslie MP, Labour's Shadow Financial Secretary to the Treasury, responding to news that the sale of 632 Lloyds Bank branches to the Co-op has fallen through, said:
“This is not only bad news for the Chancellor but for consumers too. We need more competition in the banking sector - including a greater role for mutuals - to give customers and businesses a better deal.
“The Co-op has said its decision is due to the worsened outlook for economic growth. This should serve as yet another warning to George Osborne that his economic plan is failing and he must urgently act to kickstart our flatlining economy.”<div>