BBC News – Banks Criticise Plans For Windfall Tax On Bonuses

 

She added that one million jobs in the UK were supported by the banking industry

BBC News – Banks criticise plans for windfall tax on bonuses

No doubt true enough but how many businesses and so jobs are not being supported by the banks by their refusal to lend to small businesses? It’s true the banks have a duty not to lend into a financially precarious environment but it is they themselves who have bought about this fragility. It can fairly be argued that a business model is out of date when it means that a small group of shareholders have their interests catered for against the broader interest of the entire country.

The banks may well be supporting their own employees but in so doing they are creating and maintaining the unemployment of an increasing number, one certainly far in excess of a paltry one million.

 

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