Wednesday, 7 January 2015

Labour plans were 'ill-conceived and misguided' during financial crisis

' Bank of England meeting minutes reveal officials' concerns about Gordon Brown's plans to solve 
banking crisis

The Labour government put the financial recovery at risk by rushing through new laws despite the Bank of England warning they were 'ill-conceived and misguided', newly-released documents reveal.
Minutes from meetings held by the Bank's directors at the height of the financial crisis from 2007 to 2009 have been published for the first time.

The minutes reveal tensions between the government, the Bank and the Financial Services Authority, as they battled to stop the British economy collapsing.

Alistair Darling and Gordon Brown, then Chancellor and Prime Minister, claimed credit for saving the banking system, but the minutes reveal serious concerns over Labour's strategy at the Bank of England.'

Somehow I think it unlikely that the BBC will report this in any detail, if at all. The BBC is after all little more than Labour's propaganda arm.

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