Thursday, 9 October 2008

More like it....

. Having been critical of Nick Clegg at yesterdays PMQ's I think it only fair to give credit where it is due. Politics Home reports that Clegg has sent a letter to Gordon Brown that:

"asks for clarification on the oversight and conditionality of the financial rescue package".

The letter proposes that;

"that board members of banks should be barred from taking bonuses"

and calls for:

"- Measures on the structure of executive pay to be introduced now for all banks

- Qualified new directors to be appointed to the boards of banks that the Government takes a stake in to represent the interest of taxpayers

- Conditions of the bank rescue package to include that banks only repossess family homes as a last resort

-Banks to be banned from withdrawing credit lines from small businesses".

This is much better in terms of holding the government to account rather than offering 'wholehearted support'.

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