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Lorely Burt: Miliband needs to face up to Labour’s role in banking crisis

January 10, 2011 12:18 PM
Originally published by UK Liberal Democrats

Responding to Ed Miliband's comments on taxing the banks, Co-Chair of the Liberal Democrat Business Innovations and Skills Committee, Lorely Burt said:

"In Ed Miliband's fantasy world Labour did nothing wrong on the economy and it's not necessary to have a Shadow Chancellor with the basic knowledge needed to do the job.

"When Labour was in government they lost control of the country's finances and refused to do anything that would upset the City.

"The Coalition is making sure that bankers recognise their obligation to the taxpayers who helped bail the banks out. That's why this Government has introduced a permanent tax - not just a one off - which will raise £2.5bn a year.

"Until Ed Miliband ditches his brand of ostrich economics and faces up to the role his party played in getting the country into a financial crisis he does not deserve to be listened to."