The New Economics Foundation has campaigned for some time for a People's Bank, and I have supported it in doing so.
Now it looks like it may be on its way - based in Post Offices.
There are three pre-conditions:
1) Cut the existing contract with the bakrupt Bank of Ireland - on the grounds that it is bankrupt
2) Make this bank a state owned entity
3) Train high quality staff to work for it. This must be no second rate operation.
We need it, now. It's a scandal that even now vast numbers of people in this country have no proper access to properly regulated and reasonably priced financial services.