City deregulation exploded in Labour's faces in 2008, yet Reeves is ignoring the warnings from history and pushing ahead with plans to deregulate reckless financial sector gamblers again.
Anything other than taxing the uber rich, because deregulation of the financial services industry led to such great results in 2008 (and 1929). Labour must want to lose the next election
They don't care about winning the next election. After all, they will get their places in the House of Lords. Their remit is to destroy the Labour Party, forever. In fact, I think they've already achieved that.
Governments should have set up Peoples’ Banks and supported Co-op Banks and Credit Unions after the financial crash and let the private banks find their own financing or go under. The money given to the banks could have been used to buy mortgages (at reduced prices of course) on behalf of Peoples’ Banks, Co-op Banks, and Credit Unions.
Perhaps, instead of appointing a 3rd rate economist as Chancellor, the PM should appoint a 1st rate historian, someone who can see the consequences of unleashing the rabid dogs of the financial industry.
You sure they weren't using PFIs instead?
Anything other than taxing the uber rich, because deregulation of the financial services industry led to such great results in 2008 (and 1929). Labour must want to lose the next election
They don't care about winning the next election. After all, they will get their places in the House of Lords. Their remit is to destroy the Labour Party, forever. In fact, I think they've already achieved that.
They likely will lose it, and the super clued up Brit public will elect Prime Minister Farage, for more Libertarian fun.
Fantastic analysis and so clear. Stand for Parliament old son.
Not even with hindsight - only had to notice the way the City changed post Big Bang.
New Labour could have gone some way towards mitigating - they quite deliberately chose not to.
God this is depressing. I am currently looking towards retirement but the mess my children are about to inherit is scary
I have no idea what "this" labour government are up to. Likely something to do with Blackrock
Governments should have set up Peoples’ Banks and supported Co-op Banks and Credit Unions after the financial crash and let the private banks find their own financing or go under. The money given to the banks could have been used to buy mortgages (at reduced prices of course) on behalf of Peoples’ Banks, Co-op Banks, and Credit Unions.
Perhaps, instead of appointing a 3rd rate economist as Chancellor, the PM should appoint a 1st rate historian, someone who can see the consequences of unleashing the rabid dogs of the financial industry.