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Local MEP backs campaign to put people before bankers

December 17, 2009 12:01 AM

Local Lib Dem MEP Liz Lynne has co tabled a written declaration in the European Parliament calling for EU Governments to do more to put ordinary people's needs at the heart of a reformed banking system.

The declaration calls on governments and EU institutions to address the grim social consequences of economic crisis and threat of poverty as well as stabilizing the international financial system.

As first Vice President of the Employment and Social Affairs Committee in the European Parliament, Liz Lynne has long called for more action to tackle poverty. She was draftsperson for a key Parliament report on social reality stocktaking in the last parliamentary term.

Commenting Liz said:

"We must be careful not to guarantee the future of a few people in the City of London at the expense of everyone else.

"It was the taxpayer who stumped up the money to rescue many banks and it is the Government's responsibility to do more to ensure that credit is available for small businesses and individuals and that excessive charges are brought down.

"The bailout of the banks was necessary at the time or the crisis may have been worse, but as we move forward we must make sure we get our priorities right and remember that people come first, not excessive banker's profits subsidised by the taxpayer.

"Increases in poverty, unemployment and social exclusion will be the long term legacy of this financial crisis across the European Union and we should be doing more to address these issues, not less. As we fight to reduce our now massive national debt, there is a real danger that social budgets will be cut at a time when more people than ever need help and support."