HM Treasury building

Short and to the point: Withdraw Barclays’ Banking Licence!

Responsible department: Her Majesty’s Treasury

Within a capitalist economy banks perform a vital function in facilitating the production and exchange of goods and services. In return for fulfilling this role responsibly they are allowed to hold a banking licences, which brings them great benefits in terms of the ability to create money through making loans. The systematic manipulation of the LIBOR value to serve its business interests makes clear that Barclays is not a fit company to hold a banking licence. We call upon the government to withdraw Barclays banking licence.

A television crew from Sky News visited Molly Scott Cato at home to interview her about the manipulation of inter-bank lending rates by Barclays and the resignation of its chief executive Bob Diamond. This appeared on appeared on Sky news earlier this month.