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MPs' banking probe hits Belfast | MPs' banking probe hits Belfast |
(28 minutes later) | |
The Treasury select committee is holding the first of a series of meetings outside London as part of its inquiry into the banking crisis. | The Treasury select committee is holding the first of a series of meetings outside London as part of its inquiry into the banking crisis. |
MPs have been hearing from members of the public in Belfast, who responded to an open invitation to describe their personal experiences. | MPs have been hearing from members of the public in Belfast, who responded to an open invitation to describe their personal experiences. |
The MPs will also meet with politicians and lobby groups at Stormont. | The MPs will also meet with politicians and lobby groups at Stormont. |
Committee chairman John McFall said: "We feel it's important to gather a perspective from around the country." | Committee chairman John McFall said: "We feel it's important to gather a perspective from around the country." |
The Labour MP said the committee has already gathered more than 50 hours of evidence during sessions in London. | The Labour MP said the committee has already gathered more than 50 hours of evidence during sessions in London. |
We've got to ensure that the public voice is heard - that the public are taken along - because this anger is understandable at the moment John McFallTreasury select committee "We have had to stand behind the banks with eye-watering sums, and it's very hard to have a good reason for that and for the public to understand that," he said. | |
"I tell the public that the banking system is the economic lifeblood in the country - it flows around - and if anything happens to the blood in our body, there's a thrombosis. | |
"It's the same here - jobs and communities are threatened so we have to stand behind the banks. | |
"But we've got to ensure that the public voice is heard - that the public are taken along - because this anger is understandable at the moment." | |
Personal finance was expected to be high among people's concerns at the informal meeting. | Personal finance was expected to be high among people's concerns at the informal meeting. |
"I think the biggest issue facing the economy is the freezing of credit and the need to restore bank lending, and we want to hear people's experiences," he said. | "I think the biggest issue facing the economy is the freezing of credit and the need to restore bank lending, and we want to hear people's experiences," he said. |
Details of further committee sessions outside London are yet to be announced, but are likely to be held in Scotland and Yorkshire. | Details of further committee sessions outside London are yet to be announced, but are likely to be held in Scotland and Yorkshire. |
The move out of the capital follows Gordon Brown's decision to hold two Cabinet meetings last year outside Westminster. | The move out of the capital follows Gordon Brown's decision to hold two Cabinet meetings last year outside Westminster. |
Ministers convened in Birmingham last October in the first Cabinet meeting away from London or Chequers since 1921, before visiting Leeds the following month. | Ministers convened in Birmingham last October in the first Cabinet meeting away from London or Chequers since 1921, before visiting Leeds the following month. |