Labour’s Michael Meacher Will Not Speculate On His Speculations
THE overarching reaction to the banking crisis is that so few of our elected representatives have a clue about the money markets.
It’s not just Sarah Palin who is utterly ruderless, but also ambitious Michael Meacher, our Labour MP for Oldham West & Royton. This is what he writes in the Times:
For Labour to have a fighting chance at the next election, radical demands surfaced at Manchester for significant policy change. Not just a crackdown on short-selling, but action against speculators in general.
We must cut down on speculators. Go it? Now read on:
Not just providing local authorities with social grants to build 2,500 social housing units, but allowing them to borrow against their housing stock as collateral to launch a housebuilding programme for the 1.7m applicants on waiting lists.
So no speculation, but councils should borrow money against existing housing stocks. No, he didn’t want to run Bradford And Bingley; Meacher wanted to run the country…
Posted: 29th, September 2008 | In: Money, Politicians Comments (18) | TrackBack | Permalink
