Labour: £1bn of UK banking fines should go to NHS

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A billion pounds of banking fines should be spent on the NHS, Labour's Ed Balls has said in a conference speech.

The shadow chancellor said the money - from banks fined for manipulating foreign exchange markets - should be used for "a wider good".

He said the fines could be included in the Autumn Statement to provide an "immediate boost" to the NHS.

Chancellor George Osborne has previously vowed to ensure the money will be used for "the public good".

Five banks were fined a combined £1.1bn by the Financial Conduct Authority (FCA) earlier this month for "failings" that put the "integrity" of the UK financial system at risk.

http://www.bbc.co.uk/news/uk-politics-30158810
 
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