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YOUR VIEWS: Time for radical reform of UK banking system





The Bank of Scotland had been a long time presence in the centre of Aviemore.
The Bank of Scotland had been a long time presence in the centre of Aviemore.

Well, yet another of our High Street names bites the dust.

As I indicated in my previous correspondence: “But the truth is nothing will hold up an agenda and on the 1 st January 2022, the review published its recommendations – close the banks…..”

As with many business decisions there is always another story and nevermind that “Link” did their surveys during the height of the Covid 19 lockdowns or that there were no community or business consultations, other than those, who either signed the petition in the local Bank of Scotland or spoke out in other ways.

The truth however is out there.

The Bank of Scotland is part of the Lloyds Banking Group, which is made up of a number of other banks that survived the banking crash with the help of government bail outs.

That was the cash that the taxpayer - you and I - gave them to survive.

In the year 2022, the group posted pre-tax profits of £1,137 million…

In the year 2023 they posted a profit of £351 million.

This was as a result of a number of things but primarily due to some poor historic lending practices which affected all of the banks in the group’s cash flow.

The Bank of Scotland, which had held on when others had gone, appeared to have faired the worst, hence the cull on services.

So once again the public are having to pay the price for poor business practices or so it seems.

This is all to help directors’ bonuses, share prices and share dividends.

What do you think?

The reasons behind the banking crash of 2008 are still out there and not going away.

Banking services need to be reformed and restructured to ensure the public don’t have to bail out private companies ever again.

It’s time for the banks to be split up, into retail – consumer and personal banking and commercial – business and investment banking.

And also the notion of too big to fail is a political myth!

Mark Duncan

Aviemore.

* * *

Extra billions pledged will have to be funded by even more savings

Without doubt this is one of the most dishonest British election campaigns ever.

The London parties continue to ignore serious economic issues by offering bribes and promises of tax reductions, pay rises and various NHS expansion plans.

There is indeed little difference between Tory and Labour.

With a slice of realism the Institute of Fiscal Studies in London has warned that if these plans were to go ahead financial disaster could result.

The IFS further stated that tens of billions of pounds would have to be raised for payment.

Yet with both Tory and Labour against further borrowing or tax rises, this would require drastic cuts from all government budgets.

As to the English obsession in leaving Europe, where the free movement of people had greatly helped the NHS and other public bodies, this Brexit has been a disaster with only the SNP talking about its consequences.

Again both Labour and Tory agree that billions more are required to upgrade Trident and the Armed Forces.

In truth, in line with other small successful European nations, to pay for good public services and a higher standard of living, taxation has to increase proportionally.

Finally, listening to all the Scottish party leaders, only John Swinney of the SNP is offering real change through independence, since all the rest are bound to their London UK bosses.

Grant Frazer

Newtonmore.

* * *

Farage attacks are total bananas and should be punished with jail time

Victoria Thomas-Bowen, 25 years old, threw a banana milkshake at Nigel Farage.

Was it a spur of the moment incident or perhaps one planned to advertise her X-rated website?

A few days later Nigel Farage was travelling through Barnsley on an open-top bus when 28 year-old Josh Greally threw what appeared to be large pieces of broken stone at him.

When their cases come to court they should not be given a wrap on the knuckles or a suspended sentence but should be jailed for at least six months and this would serve as a warning to other attention seekers.

Clark Cross

Springfield Road

Linlithgow.

* * *

Caring for environment needs to start at home

Environmentalists aiming for world decarbonisation and seeking the abandonment of coal, natural gas and petroleum derivatives, could logically, usefully adopt these dire deprivations unilaterally.

Since virtually all of the worldwide emissions of greenhouse gases, plastic littering and the like will inevitably continue unabated despite the pleas and demands of zealots of environmentalism, it ought to suffice to salve their consciences by imposing their desired deprivations on themselves.

Realistically, individual, personal acceptance of such constraints would exert as much or as little influence on our global climate and general environment as would the worldwide imposition of such green zealotry. That is not at all a realistic objective.

We in the UK would all benefit from a shift in the priorities of environmentalists to problems nearer home such as our sewage-polluted water, littering and dangerously decaying infrastructure including the potholes in our country roads and highways.

Travel in countries like Scotland, such as Norway, Switzerland and New Zealand convinces our family that we don't look after our beautiful surroundings nearly as well as we should - and we must be encouraging tourism in Scotland for so many reasons.

Care for our environment begins at home.

Charles Wardrop

Viewlands Rd West

Perth.

* * *

Scotland will be sidelined if fewer SNP MPs are returned to Westminster

Between now and and 4th July we will be besieged with messages laying out how a certain party are the only ones here who can beat the SNP and Tories.

Here is a revolutionary thought vote according to what you believe.

I turn 70 this year, I have believed in Scottish independence since I was about eight when I read about our past in children’s history books.

A quick look at Tory or Labour reassures me that we will never be a better fairer nation as long as we are attached to Westminster and it is clear we will culpable of ignoring genocide on a massive scale in Gaza thanks to Messers Sunak and Stamer.

I would like to live in an inclusive prosperous European Scotland which contributes peacefully to the world.

We have never been treated as a nation. Come 5th July we will get a Government that England has decided upon. That is the nature of the ‘union’ with a far bigger more populous country.

If you believe in that union, you have a choice of parties. If you beleive in Scotland please go out and vote SNP.

They will ignore us but if we send fewer MPs to Westmoinster this time, they will happily use this as an excuse and their views will be amplified by the press and the TV.

Andrew C Wilson

West Terrace

Kingussie.


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