Unite response to Independent Banking Commission
Report
12 September 2011
David Fleming, Unite national officer, said: “The proposals set
out today kick the overdue reform of the banking sector into the
long-grass. The suggestion to create firewalls in 2019 will bring
immediate uncertainty to workers across the sector, while the
greedy bankers find ways to manoeuvre around, and lobby
against these reforms.
"Simply creating a firewall is a best a weak
gesture and at worst a pointless act which will not in any material
way impact the behaviour or culture at the top of the banks where
this crisis was born.
“The report today makes no mention of the more
than 150,000 finance workers who have lost their jobs in bank
branches, call centres and processing centres across the country
since the start of the banking crisis four years ago as a result of
the greed of those at the top of the sector.
“The glaring omissions on workforce engagement
and meaningful changes to remuneration systems within banking means
that this report is another missed opportunity in preventing a
repeat of the financial crisis in the future.
“The banking regulators must carry a heavier
burden in ensuring that the finance sector complies with their
capital requirements, and scrutinise the information presented to
them. Simply looking the other way is costing families dearly, with
every job that the industry slashes being a personal tragedy.”
ENDS
For more information please contact: Saba
Mozakka, Unite press office on 07768 693 953.
