I write further to your article, ‘ Recession fears grow with wave of job cuts in region’ (8th Feb). The loss of bank jobs is, of course, very sad for the employees concerned, but unsurprising in the current climate of takeovers and megacorporate rule. Ethical banks, on the other hand, such as Triodos, the Cooperative Bank and the Ecology Building Society in Baildon are doing very well. More and more people are looking for ‘good’ banking. Perhaps redundant bank staff could consider starting up or supporting the growth of local credit unions which will deal transparently and fairly with local people’s money.
Local authority cuts are due to misguided government policy which results in cuts to services for the most vulnerable, as well as a reduction in tax receipts and spending – a lose lose situation.
Regarding a traditional firm such as Oakworth, no doubt they make good quality products which could be used to improve energy efficiency , such as double and secondary glazing. A shame that they were trading with one major customer rather than lots of smaller clients. All these job losses boil down to the need to start rebuilding relationships in communities instead of allowing ourselves to be run by corporates and multinationals.
Now the Bank of England has announced a new batch of quantitative easing (£50bn or so), and the Green New Deal Group is calling for such cash to be injected into a programme of green investment to support badly needed renewable energy and energy efficiency projects. Rather than handing the money over to the banks, who then sit on it and refuse to lend, green QE would put money into the wider economy - creating thousands of new jobs, improving energy security and tackling climate change at the same time.
Green Party (Hull and East Riding)