Union Leaders in the UK have been urging that the Royal Bank of Scotland (RBS) should be fully nationalized, a recent report unveiled. The aim is to see it turning into a state investment bank so that industry could be financed.
Even the Green Investment Bank based in Edinburgh is being requested to be given real borrowing powers, which could help it tackle climate change. The report finds that demands for changes in both the banks were shaped by the TUC.
The TUC is to participate in its annual conference to be held in Brighton, but shifting its priority, it first brought out the proposals to bring major amendments in the banking sector. It is also being asked by the group that banks should be forced to pay corporation tax on bonuses.
Since, as per the findings, the TUC intends to onslaught irresponsible risk-taking. Besides, the panel believes the Tory-LibDem Coalition is not taking any major step to ensure that the economy is being helped. Therefore, it also has demanded to force the RBS to lend more to small businesses.
The TUC's General Secretary Brendan Barber said, "Banks caused the crash. Their problems are still driving the eurozone crisis. They are still failing to provide the finance that Britain's productive sectors need".
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