• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home News

Banks have big responsibility helping with coronavirus, Nicola Sturgeon says

The First Minister said the country is looking to banks to help lessen the economic impact of Covid-19 after they were bailed out.

Joe Mellor by Joe Mellor
2020-03-18 16:30
in News
Credit;PA

Credit;PA

FacebookTwitterLinkedinEmailWhatsapp

Nicola Sturgeon has said banks have a “big responsibility” in the coronavirus response after being bailed out during the financial crash.

The Scottish First Minister urged the banking sector to act in a “responsible manner” helping limit the economic impact of the Covid-19 outbreak, to both individuals through mortgage relief and by supporting Scottish businesses.

As part of the Chancellor’s package of financial measures to shore up the economy against the coronavirus impact, Rishi Sunak said he wanted mortgage lenders to offer a three-month “holiday” period for those affected by coronavirus.

Speaking to the PA News Agency during a visit to Age Scotland, Ms Sturgeon said she expected banks to honour that.

Ms Sturgeon said: “From the biggest bank to the individual in the smallest community in Scotland, we all have a part to play here.

“We’re heading into stormy waters but if we all play our part, we can steer the ship through these stormy waters and that’s my message to everybody.”

She also endorsed the words of Scotland’s economy minister, who said in parliament yesterday: “In recent times the country has supported the banks. It’s now time for the banks to support the country.”

Asked about the comments, Ms Sturgeon said: “Banks have big responsibility here and I would echo and endorse Fiona Hyslop’s comments.

“The banks got bailed out and they got bailed out for the overall good of the economy, but the country did help the banks.

RelatedPosts

Tories ‘acting in interests’ of wealthiest as living costs soar – Corbyn

Man denied entry to baseball game after trying to take his ’emotional support alligator’

BBC release trailer of Steve Coogan as Jimmy Savile

Another one bites the dust: Calvin Robinson given the heave-ho by GB News

“The country’s now looking to the banks to be part of our national response to the coronavirus and I hope and expect that they will behave in that responsible manner.

Coronavirus
Nicola Sturgeon during her visit to the Scottish Government-supported Age Scotland helpline (Jane Barlow/PA)

“In terms of what the Chancellor said yesterday about mortgages, I would expect banks to do that.

“Banks should be looking at how they make sure that they can support businesses and business customers through these difficult times.”

Ms Sturgeon welcomed the announcement of funding for businesses by Mr Sunak and reiterated that the Scottish Government will “pass every penny that comes to us for business support” on to help affected businesses in Scotland.

In a later press conference, Ms Sturgeon added: “This further package of measures will be worth £1.9 billion and that will involve every single penny of support going to Scotland from the Treasury announcement being passed onto businesses here.”

Previous Post

Chinese student subjected to ‘coronavirus-linked race hate attack’

Next Post

Coronavirus UK – NHS doctor who fought Ebola says Govt ‘ignoring’ lessons on testing

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

More from TLE

UK signs sixth US state-level trade agreement

Sunak ‘committed to levelling up’ despite preparing to ditch HS2 to North

Prospective Areas for Fintech Investments

BBC release trailer of Steve Coogan as Jimmy Savile

Caroline Lucas: Green trailblazer who made Westminster listen

Nanny claims she was ‘fired by Carrie’ – after sharing wine with Boris Johnson

Cutting inheritance tax will lead to spending cuts and tax rises – think tank

Lee Anderson brags after getting ‘exclusive scoop’ with the home secretary

Nandy rips Braverman’s multiculturalism claims to shreds on Question Time

Top Corporate Retreats Outside of London

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




← Chinese student subjected to ‘coronavirus-linked race hate attack’ ← Coronavirus UK – NHS doctor who fought Ebola says Govt ‘ignoring’ lessons on testing
-->