Liberal Democrats Accuse Labour Government of Writing 'Blank Cheque' to Banks

9.59.30am GMT Wed 25th Feb 2009

Vince Cable MP (left) and Paul Keetch MP continue to work with Sarah Carr to find ways to help people through the tough economic times.

The Liberal Democrats have attacked the Government's latest bank bailout. Liberal Democrat Shadow Chancellor and highly respected economist, Vince Cable, said that without a thorough review of all the assets that are being underwritten, ministers were effectively writing a blank cheque to the banks.

Commenting on the news and Vince Cable's response, Sarah Carr, Liberal Democrat Parliamentary Candidate for Hereford and South Herefordshire said:

"This is another blank cheque for Britain's banks and only now the Prime Minister announces that proper controls are being put in place. It is unbelievable to think that there have been no proper controls before! With banks such as The Royal Bank of Scotland now 70% publicly owned, there can be no more excuses for it not to start lending at reasonable levels to viable businesses and individuals."