Government accused of ‘gambling with people’s lives’ as it unleashes City greed
Date: 9 December 2022
Campaigns: Food
In response to the government’s announcement of its financial sector deregulation measures, dubbed the ‘Edinburgh Reforms’, today, Nick Dearden, director of Global Justice Now, said:
“Today it’s clear that Rishi Sunak’s plan for growth is to sow the seeds of the next financial crisis. His plan is built on shredding rules which were designed to keep the public and our economy safe. It will unleash the greed of the City to gamble with people’s lives, just as Margaret Thatcher did in 1986.
“From scrapping rules on commodity speculation to consulting on removing limits on short selling, this is a recipe for a Wild West banking system that puts everyone’s future prosperity at risk. The banks should serve society, not the other way round. Sunak’s second ‘big bang’ is not a Brexit dividend – it’s a straightforward slash and burn operation on behalf of the super-rich, who now have one of their own in Number 10.”
Notes
See Global Justice Now’s briefing on the Financial Services and Markets Bill: https://docs.google.com/document/d/1znNY7zv8_JzXMFKPy7Pgl-pnIqIyoooXRxa0EZ3A_gE/edit
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Photo: Geoff Henson/Flickr (CC BY-ND 2.0)
