This is from the Guardian:
She thinks she knows where her future lies, and we're all going to pay for it.
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I think there is reasonable scope to change the law and overrule the Supreme Court because this offence was less clear cut than the PPI misselling. I also really wouldn’t miss a return to the PPI adverts from the usual scandal parasites.
However, a massive issue for me is that she wouldn’t consider using it for leverage. It should be a deal with banks. For example, in return for capping compensation she could demand the Banks pay a levy to properly fund HMRC and build it a system that can use bank data to find the tax cheats.
Doing it without a lot in return just suggests to me that she is a rubbish negotiator.
She doesn’t need to do a deal.
She can pass law to demand data, as we do with tax havens already.
Your assumptions are wrong.
As someone with skin in the game I disagree when waiting on delivery of my new car bought through finance through the dealership the salesman proudly boasted that he would be going to the Bahamas as a result of all his commissions
And how can it be morally and legally right to operate in that way
Head of Customer Complaints at Black Horse Finance?
I think Reeves is acting to prevent a sudden loss in confidence in the markets, which could precipitate a bigger problem, as your recent posts about over-inflated stocks have noted.
Presumably she’s hoping to be out of politics and in a City sinecure when the bubble bursts, safe in the knowledge that the government’s Magic Money Tree will bail them out. Again.
It’s a sick joke isn’t it customer complaints (voters via their MP representatives) aren’t allowed any more in the Starmer run Labour Party these representatives get suspended and their future threatened. Roll on the emergence of Your Party! It may continue to be monetarily illiterate but as the name says it won’t be “your” party if it doesn’t listen. This is what happens to you if you don’t listen to customer complaints membership down by 11% in one year:-
https://labourlist.org/2025/02/labour-party-membership-drop-since-general-election/
Starmer doing an Elon Musk – share value down!
Agreed.
I bought Rail magazine yesterday – £4.99!!
Anyhow, look at these polices in a country apparently looking for growth:
1. Government pulls the plug on Midland Mainline electrification (being asphyxiated by diesel fumes at Derby is still on then).
2. GWR sea wall works on the Paddington – Penzance line on hold. Hmmm………………
3. Third track north of York paused (why did they de-quadrify it in the first place, idiots?)
4. Electrification is apparently losing out to bi modal trains – diesel and battery powered – which the government thinks is adequate!!!
The issue is that a lot of industrial capacity in the private sector has been built up to deal with these projects and will now have to stand down and find something else to do. This is so Reeves can rely on the wanking bankers in a ‘de-regulated deregulated’ bank sector make loads of money for ‘growth’ instead by making risky bets which she is hoping to tax, not of course taking into account the generous CBRA she already presides over and the bailout she will undoubtedly approve in what – say 2029-30 or sooner?
Again, we have evidence that Reeves is just a vacuous being, an avatar for the capital order hoovering up as much as possible of what is left that is the shambles of post-Thatcherite Britain to the point where she will underwrite the risk that the finance industry takes in being greedy and not playing to the rules whilst people go hungry.
Reeves is beyond contempt. She must fall.
Agreed PSR. God she is useless. Less than 20 years since the GFC and all she, (and Tory/reform as well) can think of doing is getting rid of regulations brought in as a result of the GFC because the poor old financial sector is being strangled by red tape.
Can we look forward to a 20th anniversary repeat of the GFC in 2028 then? And will the government suddenly find hundreds of billions of pounds they’re telling the striking doctors don’t exist to bail them out again?
We may not need to wait until 2028
@PSR
“Reeves is beyond contempt. She must fall.”
Fall? She needs to be pushed!
Genuine (if uneducated) question. If the banks have to pay this compensation will it not go to thousands of people – many of whom will spend it relatively quickly? Would that not at least create an upward ‘blip’ in GDP which some of the press will use to claim Reeves now has more “headroom”? Please don’t either publish or answer if this is tiresome. (I’ve never bought a car this way so don’t really understand the issue TBH).
You are solely right
This happened with previous compensation payments.
Pretty much everything Ive seen from Reeves suggests that she is a creature of the City, BofE and Treasury. That reflects her education and working experience. She shows no signs of understanding the needs of SMEs and the failure of banks to support them. The malign shareholder value driven influence of the City, along with private equity and vulture capital. The difference between real investment and the speculation and rentier capitalism which covers the bulk of the City’s activities. Extracting wealth but doing nothing for the wider economy, regions or society.
That she spends so much time with their representatives and indulges them with deregulation and protection is the clincher. Nothing will change until she goes. Blue Labour are a bit like the Orange Book Liberals. Libertarian, neoliberals but a little bit greener and diverse – but its only skin deep.
Much to agree with
Even ex-Tory MP Justine Greening looking to the Left of Labour and Reeves
https://www.politicshome.com/news/article/treasury-does-not-get-social-mobility-justine-greening?utm_medium=email&utm_campaign=EB%20Fri%2025072025&utm_content=EB%20Fri%2025072025+CID_1b367319cfa28439979ae1ace7d144a2&utm_source=Email%20newsletters&utm_term=–if%20mso%20endif–Read%20more–if%20mso%20endif–
She was always more insightful than average, especially for a Tory.
Think of it; financial institutions commit get taken to court over misselling of car loans. So fraud then. And a ‘progressive’ labour party (ha ha ha) wants to step in and overrule the workings of the law.
Be a member of, or even just mention the name of an organisation protesting against what is recognised as an ongoing genocide, and the same government wants to use the law to jail you.
Be on a Zoom call planning disruptive but entirely non violent protest against the failure of society to take the climate catastrophe seriously and you end up in jail.
Thoughts anyone?
Very bad, but small beer compared with the UK’s contempt for international law over many decades, especially in the Middle East.