Wednesday 6 March 2013

The Good Bank

Who on earth would buy RBS, even the "good" bits? Last month, none other than Nigel Lawson called for the whole of it to be nationalised, so as to force it to lend to business. That's right. Nigel Lawson.

But he was still only halfway there. Investment banking and retail banking should be split completely. All of the banks should be turned into mutual building societies, ironclad as such by statute, the same Statute Law that already forbids building societies from engaging in investment banking.

Apart, that is, from the public stakes in HBOS and RBS, which should indeed be increased to 100 per cent. Those are permanent, non-negotiable safeguards of the Union, as public ownership always is. Therefore, the profits from each of those stakes should be divided equally among all the households in the United Kingdom.

And thus restructured, they provide ready-made alternatives to pay day loans. Think about it. As someone should already have done by now.

Ed Balls and Stella Creasy, over to you.


  1. Ed Balls and Stella Creasy, over to you.

    Can't you just finish your posts with "Bourgeois Bohemians, over to you"?

    I know Hitchens coined the term as a description of Labour, but 'm going to start using it from now on.

    I think it's perfect.

  2. It is always good to read your expressions of UKIP's true view of its largely working-class voters. Expect the scrutiny to which you are unused, in the run-up to the elections next year and the year after. Should be fun.

  3. Eh? Did I miss something? When did I mention working-class voters?

    We love our working-class voters,and are the only ones speaking for them, unlike you Bourgeois Bohemians.

  4. You can have them or the City. You can't have both.

    You are going to learn that between now and the General, probably the European, Election. Because, along with a whole lot more, it is going to be taught to you. The hard way.

    Like the Lib Dems before you, you wanted the big time. Like the Lib Dems before you, welcome to it.

  5. UKIP is leading the way in exposing the EU's assault on the City-and on Britain's economy.

    It's another great reason to withdraw.

    With £12 billion in annual tax revenue and 3 million jobs dependent on it, support for the City, and for the working-class, go hand in hand.