 | Home > Off Topic > Labour party plans for banks |
 
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| dnorrishill Member Since: 15 Jul 2011 Location: Hampshire Posts: 612   
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Well you can promise the world when you stand a snows chance in hell of getting elected!!
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18th Jan 2014 12:00am |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932  
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Playing to the gallery.
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18th Jan 2014 12:28am |
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| Pam W Member Since: 25 Oct 2011 Location: North Yorkshire Posts: 1169 
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Dunno who is actually in the gallery he is supposed to be playing to, as there seems to be very few people / institutions that are saying he is talking sense...
I'm not taking a political stance on this at all... just a common sense one. Agree with Brendan... if they are forced to close branches it will be small less profitable ones ... like the ones in my small town... I already have to go into the next town to service our business account as there isn't a local Lloyds branch... Strangely though in our small town we have 3 of the big 4 but also Santander, Yorkshire and Halifax. Seems a reasonable amount of competition to me for the population. Make any of them close and we get less choice, less competition between them and more need to burn diesel / petrol (either in train, bus or car) to travel to a branch in the next town.... Yeah, makes sense..not! Our blog - http://landytravels.com/ Yorkshire Off Road Club - http://www.yorkshireoffroadclub.net |
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18th Jan 2014 12:42am |
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| RobKeay Member Since: 19 Jul 2009 Location: Stafford Posts: 1567 
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It's a bad idea. Share price is low enough as it is.
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18th Jan 2014 12:55am |
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| couplands Member Since: 31 Aug 2011 Location: Peak District & Cornwall Posts: 1826 
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The proposal also includes a limit on the market share that each bank can have.
So, if a bank has to get rid of customers as well as branches, does that mean I may arbitrarily be removed from my current bank..? If the banks don't have to fight for market share, then prices/charges can just rise...seems counter productive to me. Cheers Simon |
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18th Jan 2014 8:03am |
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| LandRoverAnorak Member Since: 17 Jul 2011 Location: Surrey Posts: 11240 
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The proposal isn't to close branches, but to sell some off to what he's called 'challenger banks'. The theory is that this will increase competition by introducing more sizeable banks to the market. In practice of course, if one of the branches sold happens to be your local one then you're unlikely to be impressed.
As with many of these things, it's clearly not thought out though. For instance, there's no indication that there are smaller companies falling over themselves to expand by buying a job lot of cast off branches from the big four. Also, this proposal seems to have completely missed the fact that it was the investmant banks, rather than the high st. operations, that caused the majority of the problems we've experienced. Darren 110 USW BUILD THREAD - EXPEDITION TRAILER - 200tdi 90 BUILD THREAD - SANKEY TRAILER - IG@landroveranorak "You came in that thing? You're braver than I thought!" - Princess Leia |
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18th Jan 2014 9:04am |
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| Jonno1968 Member Since: 24 Oct 2013 Location: Leicestershire Posts: 245 
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Happy days, another half baked idea that will stop them getting into power. Bit like their idea on utility companies who within minutes said they would all leave britain and close up shop.
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18th Jan 2014 9:31am |
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| AWOL Member Since: 31 Oct 2013 Location: UK Posts: 222 |
That's what's happening with RBS. I'm moving my accounts before the switch. Not sure where to just yet, but I'm not being shifted around without a say in the deal. |
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18th Jan 2014 9:48am |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932
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I agree A few of my friends are labour ( proper activists ) supporters and like this idea . That is the gallery he is playing to, his own party. Me . I think it is completely flawed. |
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18th Jan 2014 12:25pm |
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| leeds Member Since: 28 Dec 2009 Location: West Yorkshire Posts: 8578
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Well I am old enough to remember banks when they actually provided a service.
Like children's bank accounts where kids could actually take their pocket money in and save it. Like banks who actually had a branch manager who you actually spoke to and he made a decision! Many years ago spoke to a bank manager about a business proposition, got approval and the money. Two years later went back, similiar proposition, got approval, better interest rate, so asked why and got told I had proved myself to him so was a lower risk. These days no bank managers to make decisions but business relationship managers who change every 3- 6 months. Once had a business relations manager who 'did not understand my business'! Buy a run down property, do it up, rent it out. Not exactly rocket science or black magic. Currently banks do not want to even consider small business proposal. Had one so called business relations manager who did not even consider a proposal, did not even listen to it. The bank is not lending money for that sort of proposal! End of story, would not even consider the merits of the proposal. Between the Labour party politicans and the banks they have screwed up the UK economy and nothing I hear from the Labour Party or the banks are there to help small businesses. Now one of the banks have just sent us a statement. One of our charges has gone up 50%. Now as a small business could we put up our prices by 50%? Yes we could BUT our sales are likely to plummet! Brendan |
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18th Jan 2014 1:08pm |
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| ARC99 Member Since: 19 Feb 2013 Location: North Yorkshire Posts: 1831 
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Sorry but it's a half baked idea from the team that caused the problem in the first place and did nothing to stop the problem other to shout foul and call for as many penalties as possible.
Can you imagine Miliband or Balls standing up and telling the likes of Morrison/Tesco/Sainsbury /Mark and Spencer or any other high street chain that they have to sell off part of the group so that it increases competition. Don't make old people mad. We don't like being old in the first place, so it doesn't take much to  us off.
Richard |
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18th Jan 2014 3:00pm |
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| Pam W Member Since: 25 Oct 2011 Location: North Yorkshire Posts: 1169
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Well actually the supermarkets have, in the past at least, been subject to Monopolies Commission rules, and yes, they have had to sell off or close stores as a result..... For example when Morrisons bought Safeways and wanted to move themselves into the big Safeway superstore in Ripon, they were told they had to close their town centre Morrisons store. That town centre store was sold to Sainsburys as they didn't have a store in he town up to then...Was a massive story locally at the time... Our blog - http://landytravels.com/
Yorkshire Off Road Club - http://www.yorkshireoffroadclub.net |
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18th Jan 2014 4:00pm |
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| IanW Member Since: 12 Jun 2011 Location: Gloucestershire Posts: 172 
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A great idea the last time - proposal was to sell branches to the Co-Op Bank, headed by the Chrystal Methodist. One wife - livid
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18th Jan 2014 4:32pm |
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| redhandluke Member Since: 02 Jun 2013 Location: Northern Ireland Posts: 243 
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Agree totally with Brendan. Small businesses now deal with "the Business ralationship Team" from Head Office, faceless people who dont give a s**t. Local Business Managers could listen and make suggestions, even have a friendly chat-now "Please select from the following".
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18th Jan 2014 5:13pm |
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