No-one borrows out of a borrowing crisis, except the Tories, Labour, Lib Dems, Denmark…
Alex Hern takes to task the Tories’ repeated refrain, most recently voiced by Claire Perry MP, that no one else is borrowing their way out of a borrowing crisis.
banking crisis
While the Tories squabble over EU membership what’s the future for the euro?
While the Tories squabble over whether to take their ball and go home, Ben Fox reports on the future of the euro, arguing it requires Britain’s involvement.
The coalition has flunked preparations for this banking crisis
Cormac Hollingsworth explains the coalition’s under-preparation with regards to the new global financial crisis
Osborne’s weakness on banking reforms risks another financial crisis
George Osborne, caught between conflicting interests, is not carrying out the necessary banking reforms to ensure the stability of the industry.
Now the coalition wants to cut its meagre bank levy
So much remains in doubt on bonuses. But what we know for sure is that the Treasury’s entire bank levy revenue estimates between 2011-2014 were made when bonus payments were anticipated to be higher than they had been in 2008. And the idea that the banks should be offered another sop when they should be paying for the mess they created simply demonstrates where this conservative coalition’s priorities lie.
Coalition gives up on tackling bankers’ bonuses as 2010 total set to hit £7bn
It’s hardly a surprise, but the coalition has decided that it has done as much as it intends to tackle excessive bankers’ bonuses, even at a time when small businesses continue to suffer as banks refuse to lend. Most banks will not pay out their bonuses for 2010 until February 2011 but the Treasury minister Lord Sassoon’s declaration in the House of Lords this week indicates the government is satisfied that its ‘work’ on City bonuses is complete.
Where did our money go? Building a banking system fit for purpose
The new economics foundation report, out today, seeks some answers and the first thing they found is that it is very difficult to find out where our money went.