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Holyrood challenged to investigate banks' decline

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Published Date: 26 May 2009
By KATRINE BUSSEY
PARLIAMENT has been urged to set up a committee to examine the decline of some of Scotland's biggest banks.
Labour finance spokesman Andy Kerr called on Holyrood to examine the state of financial institutions. He has written to the other parties, as well as Independent MSP Margo MacDonald, on the issue.

Labour politicians are also planning on raising the matter with Scottish Parliament business managers.

About 300 people in Scotland will lose their jobs because of restructuring at Lloyds Banking Group. The organisation – formed after the takeover of Halifax Bank of Scotland (HBOS) by Lloyds TSB – announced it was making 625 full-time workers redundant across the UK.

Cutbacks by RBS were also announced, with unions saying Edinburgh and London will be badly hit by the 700 job losses. The move is part of 4,500 cuts announced last month.

Mr Kerr suggested Sir George Mathewson, the former chairman of RBS and the chairman of the Scottish Government's Council of Economic Advisers, could give evidence, as could former Bank of Scotland chief executive Sir Peter Burt and the current management of RBS, Lloyds and Dunfermline/Nationwide.





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1

The Online Scot,

Scotland 25/05/2009 22:15:06
"Labour finance spokesman Andy Kerr called on Holyrood to examine the state of financial institutions. He has written to the other parties, as well as Independent MSP Margo MacDonald, on the issue."

Around a month late as in April the SNP's Rob Gibson has already written to Holyrood's economy Committee with the same proposal.

The SNP MSP wrote that "It could be set up on an ad- hoc basis and include some members of each committee picked for the task."

The BBC are also presenting this as Labour led proposal - it isn't !!

There is of course a Euro election looming as well as a by-election in springburn.
2

Curley Bill,

26/05/2009 00:19:45
I'd have thought Three-Chins Kerr would want Ronald McDonald to lead the committee.
3

The Former Mr. Angry,

Perth 26/05/2009 08:04:46
Bit late now! Check out the vast number of telly investigations into why the banks fell. And why does Holyrood need to set up yet another time-wasting activity - they need to get on the same page.
4

Auld Twa,

Edinburgh 26/05/2009 09:01:00
What is there to examine ?
A self regulating group of people took full advantage of the laxity of the system to speculate in such a way as to maximise their own income.
5

McNic,

A soon to be Independent Wee Village in Ayrshire 26/05/2009 17:46:16
Andy WHO ?

 

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