Tougher regulation for Banks – a better deal for engineering based manufacturing?
Published : July 31, 2009
The MTA’s Paul O’Donnell has been putting pressure on Government through regular meetings at Westminster and his work is starting to pay off with civil servants starting to listen and feedback to MP’s. Paul has pressed for more favourable interest rates for industry alongside more available finance.
At the beginning of this week Alistair Darling has outlined Government plans for tougher regulation of the banks a sure sign that Government are listening to industry and business who have been calling for tighter regulation of the banks and better availability of finance.
Opposition parties have also stated their proposals for reform and stricter controls on the financial system, arguing that Labour plans don’t go far enough and that the current system of regulation needs complete reform. The Treasury Select Committee also criticised the plans calling them ‘largely cosmetic’. The good news for members is that there is now a healthy debate on the finance sector and we hope that banks will take a more favourable approach to industry.
We’re following developments closely and will keep members informed via the Friday Brief.Contact
Mark Cole
Email : mcole@mta.org.uk
Telephone : 020 7298 6420
