Cadbury Takeover
"It is quite galling that the state owned RBS should part fund the Cadbury takeover and be putting local jobs at risk," said Dave Radcliffe.
Selly Oak Councillor Dave Radcliffe has been supporting local Cadbury workers in their opposition to the Kraft takeover. Kraft has heavily relied on loans from the taxpayer-owned Royal Bank of Scotland.
Dave Radcliffe said: "It is quite galling that the state owned RBS should part fund the Cadbury takeover and be putting local jobs at risk."
"Gordon Brown's government has not done enough to get any assurances from Kraft that jobs in Bournville are safe and the Conservatives are not offering any solutions. Liberal Democrats believe that there is now a strong case for re-introducing a public interest test for takeovers."
Speaking to the Liberal Democrat Spring Conference in Birmingham, Lib Dem Leader Nick Clegg said:
"I was staggered when I heard that RBS, a bank we own, was lending millions of pounds to help Kraft buy Cadbury. A great Birmingham company. RBS was funding this deal, which everybody knew would cost jobs in Britain, while small business customers of this very bank were being turned down for loans or charged extortionate rates. This was a scandal. And Labour let it happen. When we bailed out the banks: Did you ever imagine your money would be used to put British people out of work? Only Liberal Democrats say: never again."
Related News Stories
Wed 6th Apr 2010:
Takeover rules must change says Nick Clegg.
The rules governing corporate takeovers must change following Kraft's takeover of Cadbury to ensure that they serve the UK economy, Liberal Democrat Leader Nick Clegg has announced.
Wed 10th Feb 2010:
Tough talk on Kraft takeover melted away says Vince Cable.
"Government should not be in the business of picking winners and planning industry but neither should it be this permissive," said Vince Cable, the Liberal Democrat Shadow Chancellor.
Wed 20th Jan 2010:
Lib Dems blast Brown after news that Cadbury takeover was financed by taxpayers through RBS.
Allowing a taxpayer-owned bank to lend money so Kraft could take over Cadbury's is 'plain wrong', Lib Dem leader Nick Clegg told Gordon Brown at Prime Ministers Questions today.
Mon 4th Jan 2010:
Councillor Dave Radcliffe has urged Peter Mandelson, Secretary of State for Business, Innovation & Skills, to support the independence of Cadbury.
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