Top financial institution say they are unable to trace syndicates behind one of biggest loans in British historyAS REPARATIONS campaignersto mark Emancipation Day, the Bank of England faced renewed calls to reveal the financial institutions behind compensation paid to slave owners.
“Whilst I believe that there are some advantages to corporate companies and universities coming out and making the right noises about reparations; the question is really whether there is a sort of umbrella type commitment to try to make reparations,” he said. “I think the Bank of England would be core to that consideration above all organisations in this country and perhaps elsewhere, because the Bank of England is very much sort of accountable to the government.
The bank said “actual payments of compensation were managed by the Bank on behalf of the British government,” where £15m was paid in cash and £5 million was paid in government stock. of “distancing” themselves from their part in the trading of black lives across the Atlantic. “People need to understand that you don’t have to be the one who is putting a branding iron on a human being to be complicit in this. You don’t have to be someone who physically was on a ship or visited the Caribbean,” she explained.
Germany was the latest country to hand-over two more Benin Bronzes after being stolen by British soldiers more than 100 years ago. “What was the impact and wasn’t just the fact that other people were compensated and some were not. We’re not talking about the loss of nationhood. We’re talking about the loss of sovereignty and the loss of life, the loss of culture. We’re talking about the psychological impact.”
“The report said if you don’t take care of poor people in the inner cities and in deprived areas, you will get a backlash in terms of uprisings, because people become frustrated by their environment. Mr Crooks said that these monies gave room for youth centres and community projects to take shape, but years on from the Black Report the UK still sees African and Caribbean communities suffering the worst inequalities in healthcare, education and housing as one of the many stains of the British Empire’s rule. The list of families that benefited from slavery, which can be found in public records, still live in the accumulated wealth their slave owner relatives amassed worth up to millions.
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