London Labour Party

Jobs, homes, businesses: Action needed now

Labour’s London MEPs are working with colleagues in Europe and with the British Government to make sure Europe plays its part in tackling the recession and saving jobs, homes and businesses.

“We need tough action in the UK and across Europe to cut the recession short and to give real help to Londoners.” - Mary Honeyball MEP

Over recent months, the global economy went into recession and London is hurting. Many are concerned about the future for London’s businesses and jobs.

That’s why Labour’s MEPs have called for action now in the UK and across Europe.

Claude Moraes MEP said: “Gordon Brown announced a plan which other EU countries and the US are applying. 

Because of the global economy, our Government believes that only concerted international action can tackle the problem. Doing nothing is not an option.”

Mary Honeyball MEP says the bank bail-out was needed to save many banks and Britain’s financial institutions from meltdown and protect savers money.

But she added: “The next task, is getting banks lending again.” 

A massive multi-billion pound facility to allow banks to carry out their business, reduce interest rates and loan guarantees are all designed to do this.

Action on jobs - how Europe is making a difference

London’s Labour MEPs have backed action at European level to… 

• stabilise Britain’s banks 
• allow the UK government to support vital British industry and jobs 
• argue for greater protection for British workers.

The UK and EU have agreed to invest £200 million to boost the UK economy during the recession. 

London will receive over £103 million in direct aid from the EU. EU money supports community projects in London’s poorest boroughs.