Banks must put North West businesses and families before bonuses, says Rochdale MEP

Arlene McCarthy

North West Euro MP Arlene McCarthy has called for banks to boost lending to businesses and families in the region after she won backing for new EU rules to crack down on bankers' bonuses.

Arlene McCarthy, the Euro MP who drafted and negotiated the final bank bonus law, said: "Local companies are struggling to get the credit they need to maintain and grow their business, yet last year British banks paid an extra 10 billion pounds to themselves in bonuses - money that could have supported billions in lending to the real economy here in the North West.”

"Today's vote will bring an end to the short-term, high-risk culture that was the cause of the financial crisis. Banks must prioritise support for our economic recovery, not their own pay and perks."

This week Arlene McCarthy also spoke about new rights for boat, bus and coach passengers as Labour MEPs have backed proposals to give passengers on scheduled boat, bus and coach journeys the right to compensation if they face major.

Arlene McCarthy who is a consumer rights champion said: "Many of us now spend a great deal of time travelling around the European Union for work or leisure. However you choose to travel around Europe as a passenger you should have certain protections against excessive delays and cancellations.

"Our equalities law already protects the rights of disabled people in many circumstances, it is only right that they don't face unfair barriers that prevent them from accessing transport services."

This comes in the same week as Arlene McCarthy’s row with Nick Griffin. In a debate in the European Parliament on Iceland's bid to join the European Union, Nick Griffin was more intent on making divisive and racist remarks than defending the real interests of his constituents.

She said: “I and other colleagues were debating the real issues over Iceland's EU membership bid, like getting the Icelandic government to repay billions in compensation to UK taxpayers, who have had to help out individuals and businesses that lost money when Iceland's Icesave bank collapsed. The Icelandic banking collapse even threatened 6.5 Million Pounds belonging to the Manchester cancer hospital, Christies.

"Instead of taking up the concerns of our region and British taxpayers, Mr Griffin was intent on warning Iceland to stay out of the EU ‘to avoid becoming a Muslim Ghetto like Londonistan.’

“Yet again he has failed to represent the real interests and concerns of his region. This is the kind of action we have come to expect from Nick Griffin in the North West. The majority of his first 12 months of his election as an MEP were spent in London trying to win a parliamentary seat. He is continues to fail to represent all communities across the region.”