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03/02/2012
Miliband Says Banking Should Take 'Path Of Change'
The Labour Leader has called on the banking sector to take the "path of change" in response to public anger over failures within the sector.
In a speech at the Thomson Reuters Building, the Labour Leader Ed Miliband made a call for the banking sector to recognise that continuing on its current path will lead to "further isolation from society, greater public anger" and more years in which each payday is a newspaper headline.
During his speech on Friday, Mr Miliband spoke of the Royal Band of Scotland boss Stephen Hester giving back his bonus, while on Tuesday, the forfeiture committee revoking the bank's former boss Fred Goodwin’s knighthood.
"But these moments do really not change anything in themselves. This is about more than one man, one bonus, or one knighthood," Mr Miliband said.
He added: "These are symbols – and symptoms - of public discontent with a system that is not working as it should. This is a call on banking to recognise that it should take the path of change."
The Labour Leader spoke of the creation of a socially responsible 'one nation banking' system where banks would be run in a way that "people believe are consistent with their values".
(DW/GK)
In a speech at the Thomson Reuters Building, the Labour Leader Ed Miliband made a call for the banking sector to recognise that continuing on its current path will lead to "further isolation from society, greater public anger" and more years in which each payday is a newspaper headline.
During his speech on Friday, Mr Miliband spoke of the Royal Band of Scotland boss Stephen Hester giving back his bonus, while on Tuesday, the forfeiture committee revoking the bank's former boss Fred Goodwin’s knighthood.
"But these moments do really not change anything in themselves. This is about more than one man, one bonus, or one knighthood," Mr Miliband said.
He added: "These are symbols – and symptoms - of public discontent with a system that is not working as it should. This is a call on banking to recognise that it should take the path of change."
The Labour Leader spoke of the creation of a socially responsible 'one nation banking' system where banks would be run in a way that "people believe are consistent with their values".
(DW/GK)
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Shell Wants Scotland In The UK
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Shell Wants Scotland In The UK
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