George Osborne Bank of England Open Forum

The tax credits fiasco may be starting to their political toll if today’s brazen reverse ferret by George Osborne is anything to go by.

The chancellor told an audience at the Bank of England’s Open Forum event that it was “a bit optimistic” for bankers to ask him when we can move on from the financial crash:

“This was the biggest single economic crash of our lifetimes. This was a financial crisis probably larger than anything experienced since the Victorian age … There was a lot of totally understandable anger.

Thwaaack! Take that, bankers!

But errrrr … is the same George Osborne that “signalled an end to banker bashing” back in June, when the FT reported (£):

George Osborne will signal an end to “banker bashing” next week, amid a clamour from the City for him to ease off on regulation and cut the controversial bank levy

Privately, allies of Mr Osborne say the regulatory and tax burden placed on banks over the past five years might have gone too far

The following month Osborne then sacked the head of the UK finance regulator — who had made himself unpopular with banks after imposing massive fines.

The boss of the Financial Conduct Authority was informed his contract wouldn’t be renewed after bankers complained to senior Tories about his ‘consumer champion’ agenda.

Osborne today had the cheek to cite these very penalties as evidence of the UK’s sturdy financial oversight regime.

It’s time to move on from banker bashing (except when its politically convenient to look less like an utter tw*t).

UPDATE: Today’s Times and Mail:

Osborne banker bashing

Leave a comment

Your email address will not be published.


Comments are limited to 1000 characters.