Scott: Taxpayer-controlled banks should be subject to FOI laws (Aberdeen South & North Kincardine Liberal Democrats)

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

Scott: Taxpayer-controlled banks should be subject to FOI laws

March 30, 2009 11:24 AM
Originally published by Scottish Liberal Democrats

Scottish Liberal Democrat Leader Tavish Scott MSP has called on the UK Government to make nationalised banks subject to Freedom of Information legislation.

Mr Scott has lodged a motion in the Scottish Parliament calling for banks that are owned or controlled by the taxpayer to be subject to Freedom of Information legislation. Mr Scott has written to the Secretary of State for Scotland urging him to take this campaign to the UK Ministry of Justice on behalf of the Scottish taxpayer.

Commenting, Mr Scott said:

"Directors' salaries and bonuses are coming out of public funds. We need to see that the rewards they are given match the needs of the economy and jobs, and most importantly get lending to businesses moving.

"The UK Government has poured millions of pounds into two major Scottish banks. But at the moment we can't find out what these banks are doing with our money.

"The taxpayer should not have to sign up to a blank cheque granting ministers sweeping powers and providing little information. I don't accept that Ministers can have these powers and at the same time build themselves a legal brick wall to block information getting back to the public.

"The principle of the freedom of information rules is that taxpayers can approach a public body and find out what it is up to. These banks are now largely owned by the public with millions of pounds of our money at stake.

"Confidential commercial information is already exempt from freedom of information laws, which is a good reason for everything else to be open to scrutiny.

"It is wrong for the Government to prevent the public gaining information and debating how our money is being used."

Ends.