Tuesday, October 28, 2008


Sorry I haven’t posted much since conference, my day job as a trade union officer has meant the last couple of weeks have been very busy. The credit crunch has had a major effect on confidence in manufacturing and we have seen a big up-surge in redundancies and short time working. Most firms related to construction are having difficulties, the exception being those working on public sector contracts. That’s why its so vital we resist Tory attempts to cut public spending.

The big issue for the government is clearly steering the economy through the difficult economic period and they have top pay particular attention to job protection and job creation and preventing re-possessions. Personally I think there is a very good case for putting a 12 month freeze on all re-possessions involving the principal residence. You could make an exception for gross negligence on behalf of the borrower but many of the repossessions are the fault of irresponsible greedy lending by financial institutions and a 12 month breathing space for borrowers would be that useful thing, the right thing to do AND popular with the elections.

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