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

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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

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  • Andy Boddington
    This is a very male dominated discussion, which is a surprise given its subject. We editors will hold back some comments from people who have already spoken to ...
  • expats
    Far too many, "Nah, nah, nah', we did better than you did", comments.. Please, just grow up and concentrate on removing this government!...
  • Jeff
    Paul Barker 24th Jun '22 - 2:11pm: The thing that has struck me about coverage of last night is how everyone is running down the Solid Labour win in ...
  • Cassie
    ...also, wouldn't he have to be an MP? Mordaunt maybe, but she'd need to up her public profile. A lot....
  • Cassie
    Mordaunt and Frost are both ardent Brexiteers. Well, Frost is these days, he was pro-EU. and then negotiated a deal he later thought was rubbish, and then he qu...