5th December 2009
LABOUR CANDIDATE CALLS FOR BANKS TO BE CUSTOMER-OWNED
Donna Hutton, Labour’s local Parliamentary Candidate, has been in the town centre of Colwyn Bay to support the call for failed banks to be owned by their own customers.
of the rescued banks
Ms Hutton said:
“I am fully behind the Co-operative Party campaign to help build a financial system that puts people before profit.
“We want the banks that failed us in the credit crunch, like Northern Rock, to become mutuals again – they were encouraged to become PLCs by the Tories and have utterly failed the people of Colwyn Bay, as elsewhere.
“Almost all mutuals have weathered the credit crunch far better than banks chasing big profits for shareholders.
“The public has had to risk tens of billions of pounds to rescue the banks because of their greed.
“So we say all banks the public currently own should also be made into mutuals, owned by its customers”.
With other activists, Ms Hutton was promoting Co-op Party “The Feeling’s Mutual” campaign.
“We have had a great response from Colwyn Bay shoppers, who do not want the banks to be allowed to go back to their greedy ways.”
ENDS.