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Labour Party seeks to cut links with Co-op Bank
The Labour Party is looking to sever its links with the troubled Co-op Bank, bringing to an end one of the oldest political partnerships in the UK. The BBC has learned that Ian McNicoll, Labour's general secretary, is looking to move loans worth more than £1m to the trade union-owned Unity Trust Bank. The move comes after a year of controversy at the bank. It included the resignation of its chairman Paul Flowers who is now facing charges for drugs possession. Sources at the Labour Party have told the BBC's business editor, Kamal Ahmed, that negotiations have begun to move a £1.2m loan Labour has with the Co-op Bank to the Unity Trust Bank, and that once the loan has been moved Labour would move all its current account facilities to the same bank......Read more hereYou must be logged in to post a comment.
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