Myners on the Banking Commission report: "Very little is going to happen in the next 24 months"

Business quote of the day.

Former City minister Lord Myners is unconvinced of the significance of today’s Banking Commission report.
 
"This is a scholarly report which will meet considerable resistance over time from the banks. The banks have successfully derailed a number of similar interventions on capital, ringfencing, bonuses and I think we will see a similar response here.
 
"In many areas Tyrie has said there should be further reviews …very little is going to happen in the next 24 months as a result of this report."

Lord Myners. Photograph: Getty Images
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Tissues and issues for Labour: Corbynite celebrity Charlotte Church votes Plaid Cymru

The singer, who championed Corbyn's leadership, has voted for Labour's rivals in the Welsh Assembly election.

Charlotte Church, hot on the anti-auserity campaign trail and a regular at pro-Corbyn rallies, has voted for Plaid Cymru.

Here is her tweet supporting Labour's rivals, on the day of the Welsh Assembly elections:

The singer's vote suggests she has fallen out of love with Corbyn; she had previously made her support for the Labour leader known by performing at "Jeremy Corbyn for PM" fundraisers for him, and writing an endorsement of his leadership:

"The inverse of Nigel Farage, he appears to be a cool-headed, honest, considerate man, one of the few modern politicians who doesn’t seem to have been trained in neuro-linguistic programming, unconflicted in his political views, and abstemious in his daily life. He is one of the only politicians of note that seems to truly recognise the dire inequality that exists in this country today and actually have a problem with it. There is something inherently virtuous about him, and that is a quality that can rally the support of a lot of people, and most importantly, a lot of young people. With the big three zero on the horizon for me, I don’t know if I still count as a “young person”. What I can say is that for the first time in my adult life there is a politician from a mainstream party who shares my views and those of most people I know, and also has a chance of actually doing something to create a shift in the paradigm, from corporate puppetry to conscientious societal representation."

And, as Guido points out, Church is not the only celebrity Corbyn champion who has witheld support for Labour today. The actor Emma Thompson, who backed Corbyn for Labour leader, has endorsed the Women's Equality Party in the London mayoral election.

I'm a mole, innit.