Monday, 2 April 2007

Scottish Nationalists and the Millionaires Club 3

A bit in the front of the Herald today might throw some light on the attraction of the Nats for the millionaires club.
It reports that a leading financier, one Ben Thomson, chairman of the investment bank Noble Group, backs the Nats because a Nat win would rid the finance sector of 'over-regulation from London'.

He obviously sees an opportunity for the financial sector to benefit from a reduction in regulation, and while I support the independence cause I am not sure that the Nats., who seem to have some unsavoury friends, are the right people to take us there. I hope that this is just a coincidence and not another under the counter deal done in advance of an election (a 'Souter' ? )

Looking back over the recent past it might even appear, when we think about Farepak, illegal bank charges, endowment mis-selling, millions lost in tax avoidance schemes, and the general bolox the financial sector has made of pensions with the assistance of 'the big clunkin fist' that a lot more regulation and scrutiny is required, not a lot less irrespective of whether it comes from London or Edinburgh.

No comments: