Banks' assistance for threatened public services
I propose that a share of all banks' revenues should go towards local public services.
The public propped up the bank system in its time of need at huge expense. This cost is being recouped through cuts of many local public services. Many ordinary people who themselves are struggling enormously because of the squeeze, depend on these local services without which their lives will go on, but in a harder and harsher way. The banks are able to walk away largely from the debt they have created.
I want the government to legislate that bailed out banks are required to fund local public services - for example libraries, childrens centres, mental health centres etc. The funding should be a percentage of turnover and part of the running cost of the bank and not linked to profit.
The ambition would be to reintegrate the public and banking industry in a relationship of trust and mutual respect by involving the life of the bank in the lives of the public and vice versa.
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