Protesters outside the Town Hall

PROTESTERS gathered outside the Town Hall last Thursday evening to call for Islington Council to stop banking with Barclays.

Brought together by unions and groups from across the borough – including the NEU, Islington Palestine Solidarity, and UNISON – protesters demanded that the council “take immediate steps to cease banking with Barclays”.

They say that Barclays has invested over a billion pounds in companies which provide weapons to Israel.

The Town Hall’s decision to bank with them, argue protesters, therefore makes them complicit in Israel’s assault on Gaza.

Ken Muller, of the NEU, said: “There are students in America who are prepared to be arrested, it’s not a big ask to ask Labour councillors who have called for a ceasefire to stop banking with Barclays. This is one thing we can do, it might be small but it’s still important.”

Speakers at the protest included Islington North MP Jeremy Corbyn, Islington UNISON secretary Jane Doolan, and Islington Palestine Solidarity coordinator Paul Holborow.

Nuru Kay, who has been living in Islington for 50 years, and attended the protest, said: “I’m disappointed that my council is aware of what Barclays is doing and they are still banking with it and I’m paying [my council tax] through it.”

The Tribune understands that the council have met with Barclays to discuss their concerns about its investment practices.

Jeremy Corbyn and Ken Muller

In an email seen by the Tribune, council leader Kaya Comer-Schwartz told Mr Muller: “I share your concerns about Barclays investment practices.” Ms Comer-Schwartz added that the council’s contract with Barclays expires in 2025, and that it would be re-evaluated at that time.

She wrote: “Regardless of who the council chooses to provide our banking services, it is vital that Barclays do more to address ethical concerns.”

But Mr Muller said that waiting until the contract ran out “wasn’t good enough”.

“How many thousands of women, children and innocent men are going to die in the next 12 months while they wait for a review,” he said.

“If there are legal consequences, then [the council] have to make a stand and accept the legal consequences.”

The council said: “Islington Council takes Environmental, Social and Governance [ESG] matters very seriously and has discussed these with Barclays, including in a meeting with Barclays Bank chief executive.

“The council will formally review its banking services contract in 2025. We will incorporate the most robust criteria possible around ESG when the council’s banking services contract is reviewed.”

Barclays said on its website that the nature of its share trading had been misconstrued, but added: “It is the role of government to decide foreign policy and laws which restrict the delivery of weapons to any one country.

“We have noted the UK and US governments’ concern with respect to civilian deaths and the targeting of aid workers, and will continue to monitor developments closely.”