by Stephen Tall on November 21, 2008
The latest blog of Bridget Fox, Lib Dem PPC for Islington South and Finsbury, is now live over at The Guardian’s website, with thoughts on on recession, RBS and responsibility. Read it in full here, but here’s her thoughts on the Lib Dems being “constantly ahead of the curve” (to coin a phrase):
And the party’s now setting out fresh thinking on the banking crisis. As I argued last month, there is no point oiling the wheels with public money if the banks have their brakes on. Huge levels of consumer and institutional debt on the one hand, combined with a reluctance to lend to businesses on the other, are Gordon Brown’s legacy – and the biggest threat to any early recovery. We need to get the economy moving with direct lending to viable small businesses as well as tax cuts for ordinary consumers. If existing institutions won’t or can’t pass the money on, then it’s time to set up a new one – perhaps on the European Investment Bank model – that will.