Whilst the Coalition Government with its ill-judged ‘recovery’ policies must share responsibility for the existing financial mess the country is in, the public should not lose sight of the fact that the previous Labour Government is at least equally if not more culpable.
We only have to think of Fred Goodwin who under that Labour Government received a knighthood for services to the banking industry. Even though he drove the Royal Bank of Scotland to within twenty minutes of bankruptcy his parting gift from the government-rescued bank was an enormous ‘golden goodbye’ and gargantuan pension.
Also let’s not forget that Tony Blair headed the Labour Government during the time bankers were being given free rein to act recklessly in pursuit of super profits. He is currently amassing millions of pounds from the lecture circuit and for working as an advisor to a number of the companies who are slashing thousands of British workers’ jobs.
Consequently, it is quite rich for the Labour Party, which once upon a time in a far-off land professed to be “Socialist”, to be calling for a ‘progressive front’ to oppose the ‘cuts’.
As for the Coalition Government, the hypocritical phrase “we are all in this together” which David Cameron and Nick Clegg are peddling has to be placed in its true context. Despite hundreds of thousands of public sector jobs currently being sacrificed or downgraded in a desperate effort to resolve the current financial crisis, the top bankers largely responsible for precipitating the economic downturn are still being awarded obscene bonuses and inflated salaries.
The working man and women are “together” in the mire and the bankers and politicians are “together” in the gravy. How long will this cycle of exploitation and abuse continue to be tolerated by the British public?
Ally Hendry
West lothian branch
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