Socialist Worker

Fury at bosses who stole Xmas

Farepak customers plan demonstration at HBOS bankers celebration

Issue No. 2030

On Monday evening top bankers, bosses and politicians will be sipping champagne at a reception to celebrate the plush refurbishment of the Edinburgh head office of Halifax Bank Of Scotland (HBOS).

Meanwhile many of those whose Christmas has been ruined by the collapse of hamper company Farepak will be demonstrating outside.

Around 150,000 people lost a total of up to £40 million, which they had been paying into Farepak over the last year.

Suzy Hall, a single mother who lost £400, is one of the organisers of the protest. She explained to Socialist Worker that HBOS were the bankers for Farepak’s parent company European Home Retail.

“The bank knew that Farepak was in trouble as far back as June,” she said. “But it kept taking the money. And it wrecked a potential rescue deal in the summer.”

HBOS say that it is not at fault and gave £2 million to help the victims. Yet this is a drop in the ocean for a bank that is set to make £5 billion in profits this year.

“The bank has to take some responsibility,” said Suzy. “It hasn’t suffered at all. Look at the huge profits it is making.”

For more information go to Demonstrate Monday 11 December, 5.30pm, The Mound, Edinburgh

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