LABOUR WILL BE PUNISHED FOR ECONOMIC RECORD

12.00.00am GMT Mon 9th Feb 2009

Jim Hume, MSP for the South of Scotland, has today spoken out over "arrogant" Labour's failures to save British banking.

Iain Gray will address members of the Community Trade Union in Motherwell, and claim that Labour is best placed to lead Scotland into the "new economy" and that the Labour Government has done "all in its power to save the stricken banking sector".

Jim Hume said:

"It is unbelievably arrogant for Labour to claim it has done ‘all in its power to save' British banking.

"Labour actively encouraged the Lloyds' takeover of HBOS with the loss of banking jobs, branches and competition on every high street in Scotland.

"They now stand by while the banking bosses who took Britain to the brink of disaster use taxpayers' money to pay themselves fat cat bonuses.

"Labour's track record on the economy can only mean one thing. They are not the party of the future and will be punished for the past."

ENDS