February 17th, 2008

The Mail on Sunday’s frontpage reports that the Ed Balls has come up with a plan to plug Brown’s black hole in unfunded public spending. Issue Sharia Law compliant “sukuks” designed to allow the government’s Debt Management Office to raise money from the Saudis:
Britain is to become the first Western nation to issue bonds approved by Muslim clerics in line with Sharia law, which bans conventional loans involving interest payments as ‘sinful’.

The scheme would mark one of the most significant economic advances of Sharia law in the non-Muslim world.

It will lead to the ownership of Government buildings and other assets currently belonging to British taxpayers being switched wholesale to wealthy Middle-Eastern businessmen and banks.

Such is the parlous state of the public finances that the Treasury can no longer rely on the centuries old method of financing government debt, demand for Gilt edged securities. No Western nation has ever relied on Sharia financing and the U.S. Treasury bans banks from engaging in the practise because of potential links to Middle Eastern terror financing. Ed Balls first came up with the Sharia sukuk strategy when he was Gordon Brown’s Treasury SpAd and final consultation on the plan closes this Thursday. Alistair Darling is expected to give full approval for H.M. Sharia Treasury issues before the March budget…


Seen Elsewhere

F**k Embargoes | Martin Belam
How Many Seats Will SNP Cost Labour? | Staggers
Nick Clegg is a “W**ker” | Mail
Continuity Gove | PLMR
Sunday Mirror Should Be Applauded | Sandi Dunn
Hancock in “Labour is Full of Queers” Blunder | Scrapbook
In Farageland | London Review of Books
What About the Mums? | Kathy Gyngell
Tories Send Cameron Clear Message Re Gove | Speccie
Lets Hear it for Theresa May | Allison Pearson
Dave Takes Advantage of Economic Trust | Jonathan Freedland


VOTER-RECALL
Find out more about PLMR


Following the revelations about Brooks Newmark’s paisley pyjamas, Hugo Rifkind wonders in this week’s Speccie what other politicians wear in bed:

“Chuka Umunna will sleep in Calvin Klein briefs, all the better to catch a glimpse of himself in the mirror on his ceiling.”



cynic says:

Can anyone help me? I went on holiday a week ago and returned to find someone has pulled out the stake and Gordon Brown is back and acting as Prime Minister. What did I miss? Has there been a snap election?


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS




AddThis Feed Button
Archive


Labels
Guido Reads
Follow

Get every new post delivered to your Inbox.

Join 1,482 other followers