Saturday, Dec 05, 2009

George Osborne:

The Telegraph: For confidence to return, Britain needs a credible plan

We bailed out the banks so they could lend out to other businesses. Back then, we said that the test of success would be whether credit flowed and we avoided money going into large bonuses. Gordon Brown promised us "binding" lending targets and that "the age of the big bonus is over". Both promises lie in tatters.
Weeks ago I proposed that banks should not pay out large cash bonuses this winter, and use the money instead to get lending going. They should have implemented my proposal already.

Posted by devo @ 10:30 PM (1360 views)
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12 Comments

1. alan said...

"By 2015, it (CEBR) predicts, Britain will be outside the world’s top 10, behind Russia, Brazil, India and Canada. Slow growth and a weak pound will be responsible for the slide. “Public opinion in the UK has not yet caught up with the potential impact of this change,” said Doug McWilliams, chief executive of the CEBR".

It will be interesting to see how "public opinion" pans out. Labour has made a big show of "flashing the cash". I can see lots more greed & envy coming to the fore as its clawed back. Hope they don't cut the numbers of police officers on duty, they're going to need them.

I'm a little surprised by Darling's statement. I thought we were going to "grow our way out of recession" as Brown said on April 24th to Welsh Labour activists, then to everyone else. I guess MP's salaries will be exempt from any cuts or freezes - so they will still "grow" thus honouring the pledge.

Not to worry, I'm sure Brown's name will be up there forever with the immortal greats of Labour past: Jim (what crisis?) Callaghan, Dennis (IMF) Healey, Harold (the pound in your pocket) Wilson....

Saturday, December 5, 2009 11:01PM Report Comment
 

2. devo said...

1. alan said... I can see lots more greed & envy coming to the fore

Really?

I would have used the words 'desperation & anger', myself.

Saturday, December 5, 2009 11:06PM Report Comment
 

3. crunchy said...

'For confidence to return, Britain needs a credible plan.'

Then stop doing things like this.
http://www.personalliberty.com/feature-video/al-gore-sued-by-over-30-000-scientists-for-fraud-john-coleman/

Jolly hockey sticks!

Sunday, December 6, 2009 01:08AM Report Comment
 

4. hpwatcher said...

Not to worry, I'm sure Brown's name will be up there forever with the immortal greats of Labour past: Jim (what crisis?) Callaghan, Dennis (IMF) Healey, Harold (the pound in your pocket) Wilson....

What rot!

In no way, can you compare an incompetent like Gordon Brown with Callaghan, Healey or Wilson. Gordon Brown is heading for that exclusive club reserved for those in national disgrace, which currently includes people like Neville Chamberlain, Oswald Mosley etc.

Sunday, December 6, 2009 08:24AM Report Comment
 

5. nomad said...

hpw@4. And Nero!

Sunday, December 6, 2009 09:49AM Report Comment
 

6. crunchy said...

Guy Fawkes? sorry too obvious or was it.

Sunday, December 6, 2009 10:51AM Report Comment
 

7. letthemfall said...

Double rot. Pesonally I'm surprised anyone is reading this left-wing rubbish in this lefty newspaper.

Sunday, December 6, 2009 12:13PM Report Comment
 

8. a saver said...

For confidence to return, Britain needs a credible plan.
That bit is true, how can anyone have any confidence in a plan that consists of creating artificial money and stealing savers income to subsidise the overcommitted then announcing that the recession is over, Britain is well placed ...etc, with the banks and housing market on life support, companies going under and thousands of jobs going every week.
While:
Bankers are being paid millions in bonuses from taxpayer money
Immigrants pour into the country and get put them up in big London houses at a rental of £1600 per week (Most of us would baulk at paying that much rent per month!).

You really couldn't make it up!
PS Was it Goldmann Sachs or JPMorgan that the gov paid millions to advise on the banking crisis? What a surprise that they recommended totally bailing the banks out. Wasn't that a conflict of interest, given the number of banking shares they would have owned?

Sunday, December 6, 2009 01:35PM Report Comment
 

9. Johneuro said...

Neville Chamberlain?! It was Chamberlain's armament programme during the three years of 'appeasement' that put Britain in the position to fight a war it would have lost in a fortnight otherwise. He put his country before his rep, and all history and the uneducated do is denigrate him. You and Brown both need to learn some history lad...

Sunday, December 6, 2009 02:30PM Report Comment
 

10. Fallingbuzzard said...

An incredible plan!

Sunday, December 6, 2009 09:27PM Report Comment
 

11. markj69 str05 said...

Don't ex-PM's automatically qualify for jobs at these high-flying financial institutions, aswell?

And don't worry chaps, Gordy Brown will have his pension pot well established since becoming PM. He'll be OK. Won't we all???

Sunday, December 6, 2009 09:55PM Report Comment
 

12. crunchy said...

8. a saver said...What a surprise that they recommended totally bailing the banks out.

Some banks!

Monday, December 7, 2009 01:39AM Report Comment
 

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