Archive for July, 2009

Tory Banks Policy

Abolish the FSA, Transfer powers to the BofE is the synopsis.

DC introduces Tory Bank Policy White Paper
DC introduces Tory Bank Policy White Paper

There is no doubt that the tripartite system failed. Too many macro decisions fell in the gaps in between and the idea of panic in the air over the three week period was palpable. The idea of a financial policy committee is a good macro decisioning tool and its position within the BofE seems a sensible one.

Overall, the Tory Bank Policy looks stable, however the devil will be in the detail. I would like to see an explanation of what the Treasury’s role in this will be in the future. Outsourcing financial overseeing should not lead to a dereliction of duty by the government of the day.

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The Dirty Tricks have started

http://www.guardian.co.uk/media/2009/jul/08/murdoch-papers-phone-hacking

Clearly Mr Coulson, former NOW editor, now the Conservative Party communications director, is being smeared by association. This story has been around for some time but is being released now (by the left wing Guardian Newspaper), to disrupt the Conservative Party. Expect more stories ‘breaking’ about senior members of the Tories as we approach the election. Should there be enough instant damage then GB would call an October election. But I doubt this will happen, a drip feed through to a May 2010 election is more likely, as Labour cross their fingers and hope desperately for some for of evidence of ‘green shoots’.


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