Banks 'should not be demonised'

22 November 2011

Banks in the UK should not be treated unfairly in the wake of the global economic downturn, a leading business figure has stated.

During a speech delivered at the annual conference of the Confederation of British Industry (CBI) - a body that represents more than 240,000 companies - Sir Roger Carr, president of the organisation, said he believes large corporations across all sectors are being vilified at present.

The official, who is now chairman of Centrica, told the event in London that private firms such as financiers are crucial driving forces behind the country's post-recession recovery through their investments and job creation.

With this in mind, he called on "all those in positions of authority", such as the government, opposition, regulators and commentators, to "stop the demonisation of industry, banking, energy or defence".

Sir Roger went on to state that he is not opposed to action when these organisations break the rules, but insisted that any punishments must be implemented on "objective assessment" rather than "short-term populism".

By Tony Aynsley

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