4-12-03

Barrett secures debate on foreign jobs drift

John Barrett, Scottish Liberal Democrat MP for Edinburgh West, has secured a parliamentary debate on the outsourcing of financial services jobs abroad.

The news follows the publication of figures showing that more than 50,000 jobs have been switched from the UK to India in the past two years alone with more losses likely to follow.  HSBC, Lloyds TSB and Aviva are just some of the companies which have already moved or have announced an intention to move jobs to the Asian sub-continent where overheads and staff costs are much lower.

The debate will take place in Westminster Hall next Wednesday (10th December) at 9.30am.  It is expected that a Minister from the Department for Trade & Industry will reply.

In a statement, John Barrett said:

"I am delighted to have secured a debate on a subject which not only concerns my constituents but people across the UK.

"The financial services industry is crucial to Scotland, especially in light of the fall in manufacturing.  The spat of recent announcements, which will see thousands of financial services jobs go abroad, has rightly left a lot of people worried about the future of the industry, both in the Capital and the country at large. 

"The Government must have a strategy for the protection of UK jobs as well as a clear plan for helping those affected find alternative employment.  Hopefully, this debate will give the Department for Trade & Industry an opportunity to show that such a strategy is in place."

ENDS