Faisal Islam takes RBS to task on tax

 Banking
Feb 252011
 

Worth watching.

Hester is clearly uncomfortable and his excuses don’t even reach the status of lame.

I should disclose that I met Faisal this week.

 Posted by Richard Murphy at 8:54 am

  4 Responses to “Faisal Islam takes RBS to task on tax”

  1. Johnm says:
    February 27 2011 at 12:52 pm

    Not a comment Mr Murphy, just a thought from a non-economist (me)

    I am constantly being assailed, by press and other commentators, that the national dept is “appalling” and that “you wouldn’t run your household this way”
    Well….depending on the source of data….it seems that an awful lot of households are run much worse than the country has been.
    Average dept about 35k and average income about 25k, or worse, makes me think that the average person in the UK is worse off than the country !

  2. Richard Murphy says:
    February 27 2011 at 10:33 pm

    @Johnm

    The national debt is not a crisis

    It’s not big by historic standards

    It’s manageable

    It’s no cause for destroying the economy

    But households are in crisis – and that is an issue

    So you’ve got it right

  3. JohnM says:
    February 28 2011 at 11:01 am

    Which brings me to the IEA feature:
    http://www.iea.org.uk/blog/the-real-level-of-uk-government-debt-is-around-%C2%A348-trillion
    I’m not usually impressed by big numbers !
    The phrase: “private agenda” springs to mind.

  4. Richard Murphy says:
    February 28 2011 at 11:14 pm

    @JohnM

    But that’s a gibberish number

    If I add up all my cost of living for the rest of my life I am bust too – but it’s utterly meaningless as I will not be spending the cash until some time considerably in the future when I will have earned it

    Typical IEA propaganda, but that’s all

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