The chairman of Barclays Bank has claimed the banking giant has been forced to cut services and jobs in part because of disproportionate fines and taxes that have cost it £20billion.

Presenting a fall in profits that knocked Barclays’ share price by 10 per cent, John McFarlane said the bank had also restricted lending to small businesses because of the sums paid out for PPI complaints and foreign exchange rigging.

Read more: http://www.thisismoney.co.uk/money/markets/article-3470752/Barclays-profits-slip-5-4bn-sets-aside-1-5bn-PPI.html#ixzz41omFAUlc