Cadbury's takeover - "It's just plain wrong"

5.52.00pm GMT Thu 21st Jan 2010

Lib Dems: "British taxpayers .. did not expect that their money would be used to put British people out of work"

Hillingdon's Lib Dem Spokesman Mike Cox, who handed out prizes at last summer's Cadbury School Games in Hillingdon, has expressed his shock at news that the Government have allowed Cadburys to be taken over by Kraft.

"This is a merger too far" said Councillor Mike Cox, 52. "It's appalling to think the Government are doing nothing to stop the takeover of a much loved UK brand and the creation of this monster global enterprise. It will not serve the interests of the consumer at all - we need healthy competition between companies, not monopolistic giants dominating the market.

And even worse for local people, it's going to be devastating news for the staff and their families at the head office in Uxbridge, who, we are told, are expected to lose their jobs."

Earlier the Lib Dems had discovered that some of the money for Kraft's takeover was being loaned by the Royal Bank of Scotland, recently bailed out by Government money and now 84% owned by the UK taxpayer.

Speaking in Parliament, Lib Dem leader Nick Clegg challenged Labour prime Minister Gordon Brown on the takeover. He said "Last month Lord Mandelson declared that the government would mount a huge opposition to Kraft's takeover of Cadbury's. So why is it that Royal Bank of Scotland - which is owned by this government - should now want to lend vast amounts of our money to Kraft to fund that takeover?"

Cllr Cox said "Nick is spot on, as usual. When British taxpayers bailed out the banks, they did not expect that their money would be used to put British people out of work and sell off a major UK brand like Cadbury's. It's just plain wrong."