Darling: I won't order banks to save jobs, but they can take their bonuses...
"I won't order banks to save jobs"
What about manager's bonuses?
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Darling: I won't order banks to save jobs
THE Chancellor, Alistair Darling, has issued a stark warning that
he will not use his position as chief shareholder of Scotland's two
biggest banks to force them to keep jobs north of the border or
to bail out Scottish firms.
In an exclusive interview with Scotland on Sunday, Darling says that
the new part-nationalised RBS and Lloyds/HBOS will "have to be run on
commercial lines" free from Government influence.
The move means he will not interfere if - as is feared - the new
Lloyds/HBOS orders job cuts to its huge staff in Scotland or moves its key
functions elsewhere. Nor will the Chancellor order the banks to lend at
better rates to thousands of small businesses who say they are being forced
out of business by the rocketing price of credit.
More info...
http://www.scotsman.com/latestnews/-Darling-I-won39t-order.4630279.jp
date: Sun, 26 Oct 2008 09:02:01 GMT
author: 007
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