Barrett: Report shows it is business as usual for bankers

9 March 2010

Edinburgh West MP John Barrett has expressed concern after the publication of a report from the Westminster Scottish Affairs Committee which accused banks of failing to meet their lending obligations to small and medium sized business in Edinburgh and across Scotland

The report from the crossbench group of MPs also criticized the banks for placing pressure on staff to sell unsuitable financial products to personal banking customers.

The financial downturn has been particularly hard on Scotland, with job losses and unemployment rates increasing at a faster rate than the country as whole.

Commenting, Mr Barrett said:

‘The findings of this latest report simply confirm what people in the Edinburgh have known for some time – that despite the financial collapse and subsequent taxpayer-funded bailout, it is business as usual for the bankers.

‘We need to see responsibility and fairness from the banking sector in their dealings with both business and personal banking customers. Anything else could place the fragile economic recovery at risk and leave Edinburgh families out of pocket.’

ENDS.