Summary
Nick Clegg is ordering an investigation of British banks because he suspects he they are carrying out discriminatory practices.Recent studies have shown that 35% British with black-African origin are willing to start a business but only 6% end up doing it. The deputy prime minister claims that not only it is more difficult for black entrepreneurs to get a bank loan, but when they do so they are charged higher rates. Moreover, in his lecture about the topic he will also argue that it is the banks responsibility to unleash black and ethnic-minority talent.
Although in his speech he will be admitting other factors that prevent black people’s business from succeeding, he will also argue that because of such barriers banks should be more understanding and give them opportunities.
I decided to write about this article in my blog because I found it very shocking that a politician could make such accusation. I think that accusing banks of not giving loans or charging higher rates to black people is a bit over the top. Banks are businesses and after all, they are driven by profits and not principles. Of course, discrimination is still a problem in UK and in most countries but I don’t think this is a matter of racism.
Since these are difficult times for most British, I think that if he really cares about the people and wants to improve the economy he should ask for more opportunities for the British in general and not only minorities.
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