Banks got bailed out, we got sold out
We paid the price
In 2008-09, banks blew up the economy and were bailed out with £130bn of public money. Rather than making them pay, the Government has cut frontline services and social welfare to the bone. The NHS, our schools, local councils and emergency services are now in a funding crisis that hits the most vulnerable hardest.
Since the financial crisis:
- A GP practice has been closed EVERY TWO DAYS
- ONE IN TEN hospital beds have closed
- Over A MILLION older people now do not get the help they need with everyday tasks
- ONE IN THREE children now live in poverty – HALF A MILLION more than before
- Rough sleeping has more than DOUBLED
- Food banks gave out MORE THAN A MILLION packs of provisions last year
Click here to find out what we can do about this
Banks can afford to pay more.
In no time, it was back to business as usual for the banks, pocketing vast profits and bumper bonuses whilst most people have facing stagnant wages and devastating cuts. The big UK banks have made over £160 billion in profits and paid out over £50 billion in bonuses. At the same time, the government has cut £50bn from public services every year, and another £30bn from welfare spending every year.
Worse, banking behaviour remains the same. Alongside these vast payouts, the big four UK banks have been fined more than £60bn for misconduct since the crisis. Casino trading still dominates. The government has not forced sufficient change to prevent us sleepwalking into another crisis.
Billions are needed to get our public services back on track after the crisis and austerity cuts. Banks should pay. Our politicians need to make them. It’s time for the Robin Hood Tax.
