You can be sure that most of my colleagues in the European Parliament do not embrace the concept of the free market. Day after day, I hear them speaking up for state intervention or attempting to regulate away risk. However, there is one area where there is a genuine coalition of interests and that is the need for banking reform.
People are angry with banks - they have every right to be after all the scandals that have engulfed the sector. Our small and medium-sized members often feel that the bank will do what is best for itself, rather than the customer. But a thriving economy is dependent on a healthy banking system and banking won't be healthy without trust.
We've recently seen a series of u-turns from the chancellor on Budget measures including the controversial pasty, caravan and charities taxes. George Osborne says he is now focused on the biggest things that matter to the economy. Ahead of his annual Mansion House speech and the expected publication of the White Paper on the Banking Reform Bill on 14 June, we are calling on the government to stand firm on its banking reform commitments. Consumers should never again have to foot the bill for a banking collapse that required a bailout to the tune of £2000 for every man, woman and child. Without strong action that shakes up the culture of British banking, we will all continue to pay the price.