Unite issues warning to chancellor ahead of Mansion House speech
16 June 2010
Ahead of the chancellor’s Mansion House speech on financial
regulation tonight (16 June) the union which represents staff in
the sector has warned that simply breaking up the banks will not
prevent a future financial crisis.
Rob MacGregor, Unite national officer, said: “Instead of
rhetoric about another banking review the chancellor must take
action to reform this vital sector of our economy to ensure it is
diverse and fit for purpose.
“Statements by George Osborne about breaking up the banks will
not give consumers the radical root and branch reform of the
financial services that they need to see. As well as the reform of
the Financial Services Authority, which has long been discredited
as too close to the industry it seeks to regulate, it is also is
vital that the aggressive sales culture of the banks is
overhauled.
“The million people employed in this sector, in branches and
call centres across the country, must have their jobs protected and
any reform must promote further growth of this vital industry.”
ENDS
For more information please contact: Saba Mozakka, Unite press
office on: 07768 693 953
