October 2014

Caring capitalism. Surely an oxymoron?

Somebody should be asking the question ‘How are banks able to sit on £400 billion of government soft loans (QE) and not make it available to cash strapped businesses?’

All political parties quote parrot fashion that their most important financial obligation is to lower the government deficit. They do not understand that this deficit is the cost of running the country – providing education, hospitals and the NHS, roads, pensions, etc. and that as such could and should be written off.

If banks will not make credit available to fund increasing the countries GDP then they should be nationalised. Then these self same banks could be used in a truly democratic fashion to fund the regeneration of UK industry and society rather than at present to speculate on financial weapons of mass destruction with any gains being transferred into offshore tax havens.


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