If Barclays wants to say sorry start by matching Comic Relief donations pound for pound

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As the Guardian notes today:

In 13 Red Nose Days since that first brave venture in 1988, we have raised £660m.

And as the Guardian also notes today:

The cost to UK banks of providing redress for mis-selling mounted on Tuesday, when Barclays set aside another £1bn to compensate its customers.

Don't get me wrong: I'm not knocking Red Nose Day, Comic Relief or all those who support it. But what is clear is that without systemic change we cannot deliver the reform really needed to create a just, equitable and hunger free world.

And at centre of the problem is the world's financial system that has created, perpetuated and benefited from the inequality Red Nose Day highlights.

When some of us have argued that banking, tax havens and their related activities (and banking and tax havens cannot be separated) cause poverty and even death we have always meant it. And we still do. The gross misallocation of recourse that banks have permitted, encouraged and excused are just part of that.

And redress has to happen. Barclays could start that process. How about matching Comic Relief donations pound for pound? That would be a start.


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