Salma Yaqoob: Save jobs - make the bankers pay

Friday, 26 March 2010

Save jobs - make the bankers pay

Tomorrow I will be going a protest organised by a number of small businesses and their employees. They are angry at the fact that despite receiving £125 billion of tax-payers money, the banks are still making access to credit very difficult.

As a result many are facing bankruptcy. One such company is G&D builders in Sparkbrook which has been established for 25 years. They are facing the prospect of going under. They are not asking for a handout but simply a loan to get through these difficult times.

But they are being denied even that by banks who themselves have been bailed out by the public. It is a disgrace that instead of giving credit where it is most needed they are refusing loans while at the same time awarding themselves huge bonuses.

There is a desperate need for government investment in construction, which has been one of the hardest-hit sectors in the recession. Over 320,000 jobs have been lost in construction, along with a catastrophic fall in construction investment of 84%, the biggest of any sector. The government could change all this and get people back to work by increasing its own investment and so supplying work to small firms.

The government should have made it a condition of the bailout to pass on credit to help business and so save jobs.

Tomorrows protest is directed at the banks and the politicians who created this economic crisis that working people are now paying for.

The protest starts at 11am on Saturday 27 March from 96-98 Ladypool Road, Sparkbrook, Birmingham B11

Salma Yaqoob

Salma Yaqoob

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