Scrap tax cuts to banks and help homeowners facing repossession

Scottish Liberal Democrats have called on Jeremy Hunt to reverse the £3bn of tax cuts being given to banks this year, and use the money to help struggling homeowners at risk of losing their homes.

It comes as the Chancellor holds a summit with banks to discuss the mortgage crisis. The Liberal Democrats said that families at risk of losing their homes because the Conservative government crashed the economy need urgent support not more empty words.

Economy spokesperson Willie Rennie MSP said:

“The Conservative government crashed the economy and sent people’s mortgages spiraling. Homeowners on the brink are now looking for urgent help, not yet more empty words.

“The Chancellor needs to bring forward concrete measures to help people at risk of losing their homes.

“That must start with reversing the massive tax cuts being given to the big banks and using the money raised to help struggling households.

“It beggars belief that the Conservatives are choosing to hand billions of pounds of tax cuts to the banks, while refusing to help families worried sick about keeping a roof over their head.”