Unite reaction to bank rescue plan
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Wednesday, 08, Oct 2008 12:00
Derek Simpson, Unite Joint General Secretary said:
"Unite welcomes the decisive action today by the government to inject capital into the markets. The union is demanding that this financial support is tied to clear commitments to secure vital jobs in the financial services sector. This government finance must serve to make the industry more transparent and accountable.
"It is not acceptable for the government to socialise the risks taken and continue to capitalise the rewards in the finance industry. The measures announced today must be extended to include undertakings by the banks of no job losses, no repossessions of homes, and no rewards for irresponsible risk taking or failure.
"It is imperative that the financial measures announced today marks the turning point in the world of banking and finance. Workers in the financial services industry are not the culprits of the credit crunch and we are not prepared to allow them to become the victims. The taxpayer must now get a firm assurance that the financial lifeline extended to these large organisations will be used to protect jobs and the public."
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For more information or interviews please contact: Saba Mozakka, Unite press officer on: 07768 693 953 or 020 7420 8916.
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