Scott calls for public sector shareholder pressure on banking bosses (Aberdeen South & North Kincardine Liberal Democrats)

Aberdeen South & North Kincardine Liberal Democrats <info@aberdeensouthlibdems.org.uk>

Scott calls for public sector shareholder pressure on banking bosses

January 23, 2009 12:01 AM
Originally published by Scottish Liberal Democrats

Tavish Scott, leader of the Liberal Democrats in Scotland, has called on the First Minister to bring all of Scotland's public sector pension funds together to put united pressure on banking bosses who have presided over a series of catastrophic decisions.Tavish Scott MSP

Mr Scott has written to the First Minister calling on him to use their combined clout and considerable stakes in Scottish banks to demand answers from banking chiefs who have destroyed their businesses and Scotland's reputation for financial probity and expertise.

Commenting, Mr Scott said:

"We need straight answers from banking bosses who have destroyed their businesses and Scotland's reputation for financial probity and expertise.

"Liberal Democrats have already called for a joint inquiry into the future of Scottish banking.

"But there are other levers at the First Minister's disposal.

"Tens of billions of pounds of public sector pension funds have been hit hard by the banking losses. That is why I have today written to the First Minister urging him to bring together those who control these pension funds.

"Alex Salmond should bring together the voices of hundreds of thousands of people and the clout of tens of millions of shares to speak with one voice."