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Cut the War Not The Poor – Saturday 22nd January

7 January, 2011

Saturday 22nd January – Rolling Picket of High Street Investors In the Arms Trade

Meeting Point 1pm. The Band Stand, Castle Park, Bristol, BS1

“UK high street banks have come under fire
for their role in causing the economic meltdown.
But the lack of regulation which led to the current
crisis is also behind an even deadlier scandal.”

A new report by War on Want, Banking on Bloodshed:Highlights UK high street banks’ complicity in the arms trade, and has exposed, for the first time, the extent to which the five main British high street banks are funding this violent trade. By directly financing their production, these banks are complicit in the havoc and destruction caused by the deadliest weaponry the world has ever seen.

Most high street banks are violating their own corporate social responsibility (CSR) statements.

Barclays:
• Holds, by far , the largest amount of shares in the global arms
sector , with £7.3 billion invested in total.
• Ranks amongst the top 10 largest investors in US arms
companies.
• Serves as principal banker for three arms companies:VT
Group, Cobham and Meggitt.
• Has been part of 50 syndicated loans to the arms sector
over the last 10 years and has invested in and gives loans to
companies that produce cluster munitions and depleted
uranium munitions. 

HSBC:
• Holds shares in the global arms industry totalling £450.6
million.
• Serves as principal banker to two arms companies: BAE
Systems and Meggitt.
• Has been part of 43 syndicated loans to the arms sector
over the last 10 years worth £27.1 billion and has invested in
and gives loans to companies that produce cluster munitions
and depleted uranium munitions.

Royal Bank of Scotland:
• Holds shares in the UK arms sector totalling £36.4 million.
• Serves as principal banker to four arms companies: BAE
Systems, Rolls Royce, Babcock and Ultra Electronic.
• Ranks as the world’s leading creditor to the arms sector ,
having participated in 52 deals over the last 10 years worth
£44.6 billion, including loans to producers of cluster
munitions and depleted uranium munitions.

Lloyds TSB:
• Holds shares in the UK arms sector totalling £717.5 million.
• Serves as principal banker to BAE Systems and QinetiQ.
• Has been part of 40 syndicated loans to the arms sector
over the last 10 years worth £33.3 billion, including loans to
producers of cluster munitions and depleted uranium
munitions.

Halifax Bank of Scotland:
• Holds shares in the UK arms sector totalling £483.4 million.
• Serves as principal banker to two arms companies: Babcock
and Chemring.
• Has been part of six syndicated loans to the arms sector
over the last 10 years worth £1.2 billion.

read war on wants report banking on bloodshed

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