Lord Myners, Treasury minister since October, is trying to take advantage of his term in office to spark a radical rethink of the way shareholders engage with the companies they invest in. He accepts not every idea he floats on this subject will turn out to be worth putting into practice, but he wants everything to be considered. Banks are his prime target.

He said: "The current situation is clearly not adequate. Society, having underwritten huge amounts of support to the banks and financial system, has a right to expect that we explore every possibility. We should be considering radical ideas, going to the end of what seems reasonable, rather than being incremental."