Interim proposals from the independent commission on banking include the selling of more Lloyds Banking Group branches.

The report, published today (Monday) has the aim of increasing competition in the high street and protecting taxpayers from having to bail out banks in future.

Lloyds is already having to sell 600 branches because of EU regulations. Sir John Vickers, chairman of the independent commission, said this morning that Lloyds’ acquisition of HBOS is 2008 was “certainly not good for competition””.