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| October1974 |
Iain Macwhirter's column re Gordon Brownhttp://iainmacwhirter2.blogspot.com/This ideological reawakening comes rather late in the day. As Chancellor of the Exchequer for nearly eleven years, Gordon Brown was responsible for the very “light touch regulation” that turned the City of London into a giant offshore casino. Brown devised a system of tax breaks, like non-domicile status and capital gains exemption, which attracted every financial spiv from the Vladivostok to the Cayman Islands. Why do you think all these Russian oligarchs have been coming to London? Speculators could do more or less what they wanted here, no questions asked. On the very eve of the crash in 2007, Brown praised the City’s “creativity and ingenuity” and their “most modern instruments of finance” - the very instruments that caused the crash. Gordon Brown also allowed the tax breaks for residential property ownership which created the greatest speculative house price bubble in history, and produced all those securitized mortgage bonds that turned toxic and had to handed to the bank of you and me. |
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| Shagpile |
That's right. And where were the warnings from the opposition?
Seriously...... what alternative do the people of this union have come the GE? |
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| Stevie |
Re: Iain Macwhirter's column re Gordon Brown
Like the turn of phrase. |
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