Thursday 9 April 2009

Banks might lend £50 billion, says Gordon brown

How would he know this?....Gordon Brown predicted on the Jeremy Vine show today that banks would lend an extra £50 billion in the UK this year, helping to bolster the economy etc.

As readers will be aware, this is money ordered by the Brown Bunker to be lent no matter what. Nice that he portrays it in public as if he is making a economist's prediction about loan market improvement....rather than the dictat from central planning that it is. He does not mention that it is the Government projects that will be the recipients either, rather than struggling companies and families.


Bill Quango MP said...

He got a lot of flak on the normally mild Jeremy Vine show yesterday. He told a sole trader to go back to his bank now, as loans have been made available in the last two weeks.
I phoned A+L, Nat west and lloyds.
They were not aware of any extra loan schemes and gave me the existing stuff.
Maybe Brown forgot it was loans for government projects.

Time to stop announcing new schemes and get some of the old schemes up and running. There does appear to be a fair lag between promise and delivery.

Sen. C.R.O'Blene said...

'He does not mention that it is the Government projects that will be the recipients either.'

And all his town hall/local authority hangers-on will have jobs and pensions for life while real companies struggle to get the crumbs.

I fully expect to see direct labour forces in councils coming back soon, just like the seventies, when their bloated inefficiency caused even Callaghan to get the jitters.

Old BE said...

I think the economy will recover quite soon, despite all Gordon's efforts.

Newmania said...

The rhetorical use of figures by G Brown will be adegree course all on its own in a few years

Pants-on fire-ology

Sean said...

Power at all costs, even if it means creating a mini boom to win an election.

If Joe Public buys this, we will need more than the IMF after June 2010.

Electro-Kevin said...

I agree with Sean

Otherwise the mother of all recessions will have been and gone in barely a year.

Recovery ? Soon ???

People. Please start using your common sense.

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