18 September 2007

Easy access to your cash vs. Govt bureaucracy

Alastair Darling stepped in and guaranteed Northern Rock savers that their cash was safe. Will that be the end of it?

If I were an investor who had concerns about Northern Rock I am afraid I would still take my money out. Simply transferring your hard earned cash to a "safer" bank or building society where you have easy access is surely a far better option than the mass of red tape and Civil Service bureaucracy that would be involved in claiming your money back through the Treasury - a system that would inevitably mean months worth of delay before getting anything back.

Labels:

17 September 2007

Message for the Media: Conservative Position on Debt is nothing new

I have just watchd Adam Boulton on Sky News say that the Conservatives had seen an opportunity in the current Northern Rock debacle. Absolute tosh and a distortion of reality.

The Conservatives have been harping on about the problem of soaring personal debt for some years now, recognising the impact it could have.

In November last year at a debt seminar George Osbourne said: "An economy built on borrowed money is an economy built on borrowed time."

And David Cameron referred to it in his response to Gordon Brown's budget last year.

So far from seizing opportunity, the Conservative response is a reflection that this is the realisation of a problem the Conservatives had foreseen. It, once again, shows that Conservative thinking is ahead of the Government's.

Labels: ,