I recorded this in a single take on Tuesday evening. It was in The National yesterday, but I do not think it too late to share here:
As with other political parties, I am more than happy to criticise the SNP when I think it right to do so. But I will give praise when it is due. On this occasion, that is what I have done. This was a radical move, and for that reason, it's welcome, not least because it's a lot more progressive than anything Labour is saying.
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A succinct summary of a progressive investment model. I too hope it is a success and provides a reference for what could similarly be undertaken south of the border.
Totally agree – and how novel to links savings to things that benefit society and individuals!!
This is interesting, and as you say it’s significantly more than Labour are making any attempt to do.
Obviously a lot is going to come down to execution, and I’m concerned about where the money is going- this could very quickly just become a way to funnel tax money into private profit and citizens won’t see any of the financial gain, unless there’s some easy way for Joe Public to get involved, which I should imagine there won’t be at £200 mil.
Is this similar to what Jamie Driscoll is doing as North of Tyne mayor?
No: he is going direct to funds. This is a broader, old style, bond issue. But the plan may change.
Thank you Richard,
Totally agree with your wise words. It’s time we show the world our intent.
Have subscribed!x
Thanks
Are you now advising the SNP or if not are you hoping for a formal paid role a bit like you had under Jeremy?
I have no links to the SNP.
I have never had formal linkis with Labour.
I am not looking for one.
But I do note you were Brian only a day or two ago.
Is it really a good idea to issue bonds when you have no control over the currency and interest rates?
The interest rate will be fixed.
The currency will be the only one available right now.
Do you have another one!
Yes, thanks.
If the interest rate is fixed are there any negative consequences if the BoE changes the interest rate? If there are negative consequences how do they differ between rate rises and lowered rates?
A fixed rate is a fixed rate.
Subsequent BoE rate changes alter the price at which the bond trades but not the rate paid or the redemption value.
Does this news come with any hint that the SNP will recognize the importance of Scotland’s having its own currency upon independence?
No