It was at the height of the Blair destabilising cash for honours investigation that Guido was sent a document outlining the use of 11 Downing Street by the Smith Institute and the role of that “charity” in furthering Gordon’s ambitions. The note was passed to Guido by an über-Blairite close to No. 10. This was hardly surprising since No. 10 suspected (rightly) the Brownies were stoking the flames of cash for honours, this was essentially a sleaze counter-attack. The note outlined how Gordon got private polling and personal consultants flown in from the States. How they were paid for by cash-for-access meetings in No. 11 involving Brown and his aides under the auspices of the Smith Institute. Balls himself was paid an £89,000 bung by the Smith Institute and is now under scrutiny with the Tories looking to link this payment and others to the unlawful furtherance of Brown’s political ambitions.
One lot in particular caught Guido’s eye. Don’t worry Michael, Guido will pay cash in a brown envelope…
The technological capability will no doubt have the politicians salivating. They are able to block any website on some pre-text from being viewed in the UK. That is a power they won’t be able to resist…
Hat-tip : The Register
- H.M. Treasury has guaranteed British inter-bank lending (charging a hefty penalty risk premium adding to the cost of inter-bank lending).
- The Treasury has demanded preference shares from the banks with, from memory, a 12% interest charge to be paid by the banks.
- The Treasury has also encouraged the FSA to double the requirement for banks to hold government gilts in their reserves, yielding somewhat less than a paltry 4%.
- The Treasury is demanding that banks lend at mortgage rates closer to base rates.
Part 7 — Miscellaneous
Section 6 of the Bank Charter Act 1844 (Bank to produce weekly account) shall cease to have effect.
And be it enacted, That an Account of the Amount of Bank of England Notes issued by the Issue Department of the Bank of England, and of Gold Coin and of Gold and Silver Bullion respectively, and of Securities in the said Issue Department, and also an Account of the Capital Stock, and the Deposits, and of the Money and Securities belonging to the said Governor and Company in the Banking Department of the Bank of England, on some Day in every Week to be fixed by the Commissioners of Stamps and Taxes, shall be transmitted by the said Governor and Company weekly to the said Commissioners in the Form prescribed in the Schedule hereto annexed marked (A.), and shall be published….