Britain slumped to its longest double-dip recession in more than 50 years today after shock figures revealed the economy shrank by a worse-than-expected 0.7% between April and June.
Banks will be forced to ring-fence savers' cash from their risky casino-style investment arms to protect deposits and avoid a run like that which brought down Northern Rock in 2007.
The double-dip recession is deeper than originally feared, with revised figures today showing a sharper decline in the economy in the first three months of 2012.