Mansion House speech: Unite calls for diversity in banking sector
and protection for banking staff
15 June 2011
Ahead of George Osborne's Mansion House speech tonight (15
June), Unite will demand to know where are the government's
proposals for diversity in financial services and the promotion of
mutuals as promised in the coalition agreement.
The chancellor is expected to announce plans for the
privatisation of Northern Rock, but the coalition's agreement which
formed its plan for government, promised to bring forward detailed
proposals to foster diversity in financial services, promote
mutuals and create a more competitive banking industry.
Unite general secretary, Len McCluskey, said: "The coalition
government made a clear and unequivocal commitment to foster
diversity in financial services and to promote mutuals. We hope
that the chancellor keeps an open mind on the future of Northern
Rock and explores the possibility of re-mutualisation.
"Britain deserves diversity and choice on the high street as
part of a modern banking system that delivers for working people,
by helping them to save, put a roof over their heads and manage
their finances. The government made a clear commitment, or is this
yet another U-turn?"
Tonight (15 June) George Osborne is also expected to announce
that he will endorse plans to build a capital wall around the
country's high street banks in an attempt to protect them in the
event of a financial crisis.
Unite which represents workers across the retail banking
industry will call on the banks and the government to work with the
unions to ensure that the staff working at bank branches, call
centres and back offices are not put at any further risk. An
estimated 100,000 jobs have already been lost across the retail
banking sector as a result of the risk taking city elite, financial
services staff should not be put at further risk as a result
of reforming the banks.
Unite general secretary Len McCluskey continued: "In reality
this is a Tory turnaround of historic proportions. They deregulated
the banking system in the 1980s and now they are having to
introduce legislation to protect the consumer and the economy from
that very same folly.
"Since the beginning of the financial crisis, over 100,000
retail banking staff have paid the price for the greed of the
casino capitalists with their jobs. The government's plans to fix
the banking system must not jeopardise bank workers' jobs any
further. We expect the government and the banks to work with the
unions to ensure a smooth transition for any staff who might be
affected by change."
ENDS
Contact: Ciaran Naidoo on 07768 931 315
