Scott launches "Fighting for Fivers" campaign (BANFFSHIRE and BUCHAN COAST Liberal Democrats)

BANFFSHIRE and BUCHAN COAST Liberal Democrats <info@banffandbuchanlibdems.org.uk>

Scott launches "Fighting for Fivers" campaign

December 11, 2009 5:19 PM
Originally published by Scottish Liberal Democrats

Scottish Liberal Democrat leader Tavish Scott has today (Friday) launched the Party's new Fighting for Fivers campaign in Edinburgh.

The campaign aims to get more bank machines in Scotland to dispense £5 notes.

This would give individuals and small businesses greater control over their own money, helping them to save and better manage their own finances.

Mr Scott was joined by Liberal Democrat Edinburgh South MSP Mike Pringle and the party's PPC for Edinburgh South Fred MacIntosh to launch the campaign.

Commenting, Mr Scott said:

"Liberal Democrats believe that people should have better access to their own money.

"Being able to withdraw £5 instead of £10 every time from a cash machine would be a real help to individuals, families and small businesses all feeling the pinch in Labour's recession.

"Every cash machine is already able to dispense £5 notes. They only reason they don't is because banks would need re-fill them more often.

"This is not a big ask of our multi-billion pound banks. It is a small gesture that would go some way to help restore their tarnished reputations.

"Scotland's biggest banks are now majority owned by the taxpayer. I think it is about time they did something to support the hard working individuals that bailed them out."

Ends.

Notes to Editors:

Facebook currently has a campaign with 56,948 members calling for the introduction of bank machines that dispense £5 notes: www.facebook.com/group.php?gid=38545525469

There are currently only 45million £5 notes in circulation in the UK. This compares with 155million £20 notes and 133million £10 notes. It is estimated that the average bank note has a lifespan of only 2 years.

The Governor of the Bank of England, Mervyn King, has repeatedly called for banks to do more to introduce £5 notes into circulation