{"id":9399,"date":"2011-03-29T10:45:55","date_gmt":"2011-03-29T08:45:55","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=9399"},"modified":"2011-03-29T10:45:56","modified_gmt":"2011-03-29T08:45:56","slug":"the-uk-undermines-global-financial-stability","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/03\/29\/the-uk-undermines-global-financial-stability\/","title":{"rendered":"The UK undermines global financial stability"},"content":{"rendered":"<p>From the <a href=\"http:\/\/www.mirror.co.uk\/news\/city-news\/2011\/03\/29\/britain-branded-soft-touch-over-financial-regulation-115875-23022799\/#ixzz1HyaLaQtR\">Mirror (<\/a>and why not - full marks to them for picking this up):<\/p>\n<blockquote>\n<p>Britian's &ldquo;soft touch&rdquo; policing of the City risks triggering a fresh financial crisis, think tank the <a href=\"http:\/\/www.neweconomics.org\/\">New Economics Foundation<\/a> warns.<\/p>\n<p>Lax regulations have allowed the dodgy practices that sparked the financial downturn to continue, it claims. And it accuses authorities of blocking overseas reforms that could avoid another catastrophe.<\/p>\n<p>Report co-author Andrew Simms said: &ldquo;If the Government wants a safe and stable financial system, it should stop the UK dragging down international efforts towards reform. TIf it doesn&rsquo;t, we are in danger of being seen by our neighbours as a financial rogue state, subverting safer finance. &rdquo;<\/p>\n<p>Criticisms include failing to tackle naked short-selling \u2014 traders gambling with stock they don&rsquo;t own \u2014 despite a US ban and EU efforts to do the same; ignoring tax havens abroad; and allowing dubious dealing by commodity traders to flourish unchecked.<\/p>\n<p>NEF said: &ldquo;The UK undermines global financial stability. &rdquo;<\/p>\n<\/blockquote>\n<p>I agree.<\/p>\n<p>But then I work closely with NEF on the Green New Deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From the Mirror (and why not &#8211; full marks to them for picking this up): Britian&#8217;s &ldquo;soft touch&rdquo; policing of the City risks triggering a<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/03\/29\/the-uk-undermines-global-financial-stability\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,35],"tags":[],"class_list":["post-9399","post","type-post","status-publish","format-standard","hentry","category-banking","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=9399"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9399\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=9399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=9399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=9399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}