'Money more important than lives' provokes STUC anger

Following the fine of £980,000 imposed by the Financial Services Authority (FSA) on the Nationwide Building Society the STUC has expressed its anger that corporate crime and failures in the finance industry are more likely to attract meaningful sanctions than courts can impose on organisations that kill or maim their workers.

Ian Tasker, STUC Health and Safety Officer said

“Once again we see one regulator, the Financial Services Authority, having the power to, and imposing a substantial fine on an organisation they have adjudged to have breached their regulations”.

“However, in the case of breaches of health and safety legislation, some of which do or could lead to loss of human life, the enforcer has no control over the level of penalty imposed on the guilty organisation”.

“This fine is £80,000 more than that imposed on Shell following the deaths of two workers on the Brent Bravo platform in 2003. A tragedy that leaves two families devastated having been robbed of loved ones.

“The Government has failed to meet their promises to increase the penalties courts can impose for breaches of health and safety legislation, promises made as far back as 2000. This is why we see appallingly low financial sanctions imposed on companies who cause the deaths of their workers”.

“We live in a strange society where regulatory breaches by financial organisations and crimes against employers by their workers attract far more serious sanctions than corporate crime involving the loss of human life”.

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For further information contact Ian Tasker 0141 337 8100