The Rock in a Hard Place

Despite the promises, it seems unlikely that the Treasury will make its money back from the upcoming sale of Northern Rock after all. Not so long ago even the likes of Osborne were suggesting  that some profit would be made when a suitable buyer was found. The bank has just posted losses of £78.8 million for the first half of this year.

Who would have thought that buying the first British bank to have run on it in 150 years won’t make you any money…




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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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