Union must explain pounds 6m loss

Union must explain pounds 6m loss

The GMB leader, John Edmonds, is under pressure from members to explain a pounds 6m loss from union funds to a company that was dissolved before paying money due for union land. The union was criticised for borrowing pounds 2.5m from its pension fund, allegedly to make up the shortfall. It said the borrowed pounds 2.5m was part of the package tied up before the company reneged on the pounds 6m payment.

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