Tag Archives: lord turner

Independent Commission on Banking threatened mass resignation to make Osborne back-off

Matthew Oakeshott’s departure as a Liberal Democrat spokesman for criticising the ‘Project Merlin’ deal with the banks over bonuses and the like may have got the headlines, but the real story is revealed by Anthony Hilton in the Evening Standard – all the members of the Commission threatened to resign in protest at government interference with their work.

He writes:

The Government offered to emasculate the Independent Commission on Banking as it tried to strike a deal on bank bonuses a few weeks ago. I am told it backed off only when Sir John Vickers, chairman of the inquiry, and his entire committee, Clare

Posted in News | Also tagged , , , and | 13 Comments

Sharon Bowles named most influential Brit in global financial regulation

Sharon Bowles, Liberal Democrat Euro-MP for South East England, is the highest placed British person in the GFS Power 50 list of the most influential figures in global financial regulation.

Sharon BowlesThe list is voted on by readers of Global Financial Strategy, and Sharon Bowles came out twentieth due to her role as Chair of the Economic and Monetary Affairs Committee. This committee of MEPs has an important role in debating and amending European-wide financial regulation, including new rules on bank capital and bankers’ bonuses.

Sharon Bowles came ahead …

Posted in Europe / International and News | Also tagged , , and | 3 Comments

Clegg: Turner’s bank tax is “unworkable”

The BBC tells us:

Lib Dem leader Nick Clegg has queried the “workability” of a suggested tax on banks to curb excessive bonuses. Lord Turner, head of the UK’s finance watchdog, has suggested taxing banks’ financial transactions. The Treasury has urged restraint on bonuses but stressed taxation was a matter for the chancellor. Mr Clegg said the idea had practical pitfalls but agreed with Lord Turner’s “sentiments” and said that some banks needed to be broken up. …

Mr Clegg said there were real questions marks about the “workability” of a UK-only bank tax, given that most banks operated across

Posted in News | Also tagged , , and | 5 Comments
Advert



Recent Comments

  • jason pierce
    The Party should be pro a mixed economy not unfettered unregulated free markets and that was at one time in the manifesto and should always be in there....
  • Alex Macfie
    I've said it before and I shall say it again: We are not the Brexit Party. We cannot order our voters about. Some people here seem to have jumped in late...
  • David Raw
    @ Lorenzo Cherin Thank you, Lorenzo, for having the decency and perception to recognise what a great person (born/bred in the constituency and committed to i...
  • Michael Hall
    I have been responding to comments in The Times on Line suggesting that the Libdems are hypocritical in speaking against HS2 when it is allegedly our party poli...
  • Alex Macfie
    David Evershed: The present "Social Democratic Party" bears little resemblance to the party of which it claims to be a continuation, nor to the Liberal Democrat...