Tag Archives: banks

Opinion: How to balance the UK economy

A-Co-operative-bank-sign-007I was a bit flummoxed after being taken to task on Lib Dem Voice last week for being anti-business. What had I done? I had been criticising payday loan companies for hoovering up money away from local companies.

There are two underlying problems here, confusions which muddy the political debate on business.

The first is the misleading idea that somehow all business is always on the same side.  Organisations like the CBI claim to speak for business while actually promoting the interests of the biggest.  It isn’t the way the world is.

Posted in Op-eds | 7 Comments

Opinion: How the government can spend billions on stimulus without borrowing a penny more

In his defence of his dexterously lethargic approach to managing the economy, George Osborne portrays his detractors as Icarus-like figures forgoing prudence to pursue fantastical growth amidst the sunny uplands forever just beyond the next horizon.

The Chancellor would contrast himself as a wise head trying to counsel Icarus towards caution, as Daedulus did in the Greek myth.

But if Icarus was wrought low by over-reaching himself and flying too close to the sun, Daedulus’s demise came when he couldn’t escape from a labyrinth of his own creation. Osborne is risking this outcome.

I described the Chancellor’s economic management as dexterously lethargic above …

Posted in News | Also tagged | 14 Comments

Sharon Bowles MEP writes: New EU rules make a more secure, sustainable and transparent banking system

Yesterday the European Parliament passed a historic package of financial legislation following almost two years of negotiations. The most widely publicised aspect of these new rules is the cap on bankers’ bonuses, introduced in an amendment by the European Parliament and supported by Lib Dem MEPs. As well as the moral justifications, there are many good rational reasons for the cap. Significantly, it will realign the bonus to salary ratio to more reasonable proportions, thus reducing the kinds of excessively risky behaviour which contributed towards the financial crisis. It is important for banks to show restraint and take a more …

Posted in Europe / International and News | Also tagged and | 15 Comments

Opinion: Radical action need to remedy the economy’s woes

While the Chancellor’s direction of travel in relation to tackling Britain’s economic challenges is improving, his current approach will leave Britain feeling like Sisyphus, labouring hard to push a rock up a hill but never quite feeling secure that it won’t come crashing back down, destroying the hard work already undertaken.

But just as Sisyphus continued to focus on the mechanics of getting the rock up the hill, rather than indulge in any broader experiment to escape his predicament, Osborne toils at the seams of Britain’s economic malaise.

The Chancellor happily wallows in the Bank of England’s myth that giant infusions of credit from Quantitative Easing and the ‘Funding for Lending’ schemes, are any sort of remedy to Britain’s economic woes.

Posted in Op-eds | Also tagged | 16 Comments

Vince v Osborne – the battle for RBS’s future

The future of the Royal Bank of Scotland is back in the headlines today.

The Financial Times reports that ministers are discussing buying the remaining shares in RBS, bringing it fully under state control. This would allow them to force it to lend more to viable small and medium-sized businesses  without having to worry about other shareholders challenging such a direction in the courts.

The Guardian reports that Liberal Democrat   Vince Cable is the driving force behind this plan. He believes that it’s the only way to get money to businesses.

What we do know, and Vince Cable confirmed when taking …

Posted in News | Also tagged , and | 18 Comments
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Recent Comments

  • User AvatarAlex Sabine 1st Apr - 1:50am
    You are right that George Osborne did not make these arguments and matched Brown's spending plans until the onset of the financial crisis. This was...
  • User AvatarAlex Sabine 1st Apr - 1:45am
    @ Stuart - On the 'off-topic' point, I was responding to Steve Comer's argument about the 1997-2001 Blair government, which itself was a response to...
  • User AvatarDavid Evershed 1st Apr - 1:19am
    Caron You should have asked Mark Thompson about biting a BBC producer and then getting promoted to Director General of the BBC (according to Guido...
  • User AvatarEddie Sammon 1st Apr - 1:00am
    Nicola Sturgeon is now saying she wants Labour to remove the benefits cap and increase them by more than inflation each year. The SNP leadership...
  • User AvatarStevan Rose 1st Apr - 12:40am
    Joey Essex. The strongest argument there is in favour of requiring an examination before being granted a vote. The boy has made a fortune out...
  • User Avatarmalc 1st Apr - 12:32am
    Phyllis "I’m afraid my head tells me that nothing in the Lib Dem manifesto can be treated as anything other than a wish-list, ready to...
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