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Shadow minister backs Halifax HBOS staff
SHADOW Work and Pensions Secretary, Chris Grayling, has given his backing to HBOS staff in Halifax who might lose out as a result of the Lloyds TSB takeover.
But he stopped short of calling for direct Government intervention in the bank.
"The situation is of huge concern but I don't think politicians should interfere in the running of the new business," he said at the Halifax Connexions Centre.
The Government was right to financially support banking but it was up to management to reshape their businesses.
Taxpayers will own nearly half of the new Lloyds/HBOS superbank after investors shunned the two lenders' 1.3bn fund-raising plans.
The Court of Session in Edinburgh gave the green light to the deal after a legal hearing lasting all day
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Weather for Halifax
Saturday 11 February 2012
Today
Sunny spells
Temperature: -1 C to 0 C
Wind Speed: 8 mph
Wind direction: South west
Tomorrow
Cloudy
Temperature: 2 C to 4 C
Wind Speed: 9 mph
Wind direction: North west
