Scrapping the FSA
Monday, 20 July 2009 06:51

An incoming Conservative government would scrap the Financial Services Authority and put more power back with the Bank of England.

Mere mortals like the people of the UK might not understand the intricacies of economics, but this sounds like a good proposal. Brown is a compulsive complicator, so it was natural to take a system run by one public institution and turn it into three. At a stroke he increased the number of highly-paid city folk and ensured that blame could be the new prize of political pass the parcel.

Change would be a good thing in this case, putting the power back with the people who know what is going on in banking and had been pulling the levers of power siliently in the background for a long time.

One thing you can be sure of, if Brown and the rest of Labour attack it and use all the vitriolic phrases that they have been saving for a political rainy day then it's a good proposal that will probably work and they wish they had thought of it.

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