Unite reaction to £50bn bond issue

21 April 2008

Graham Goddard, Unite Deputy General Secretary said: "Unite welcomes the announcement by the Bank of England as a positive step to ease the pressure on the UK's financial services sector. However, it is now vital that there is a cautious approach in order to ensure the sector acts in a responsible manner. In the current climate of uncertainty it is Unite members in the finance industry who are feeling the threat of job losses.

"Unite is calling on the financial services industry to be fully transparent in their lending practices and ensure there are clear measures in place to ensure that there is no reckless lending. Without clear safeguards it will be the hard working employees in the sector that will suffer, as companies make short-term decisions to protect their investments."