1. Government spending is out of control (and implicitly we will have our debt rating downgraded without some concrete policies); this is an attack on both main parties.
2. A plan is needed to REDUCE the deficit; this is in direct contrast to Brown/Darling who have said spending will increase.
3. The Bank of England needs more powers; again this is the Tory policy and the opposite of Labour, who said everything is fine really.
4. The big banks are too big and ways must be found to control them, this is partly an extension of point 3, but again is the idea being floated by Richard Spring of the Tories to separate Investment banking and Retail banking.
On reading the reviews of this speech, there is no other way to see it. it is a huge criticism of the current Government and a vote of confidence in the opposition. I don't think the Bank of England Guvnor has set himself into such a position, certainly not since independence in 1997.
No doubt, Mr. Brown will come up with some new ideas to restrict the independence of the Bank in short order. The FSA is much more compliant with his views after all...
