We think it would be safer if the Bank of England had responsibility for solvency regulation of UK-based banks, as well as having an overall duty to keep the system solvent. Otherwise, there could be dangerous delays if a banking crisis did hit.
John Redwood
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The UK downgrade will come as little surprise to many. It does not appear to be occurring because the UK is cutting its deficit too far and too fast.
- John Redwood -
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The government would also be wise to press on with its further measures to promote growth, as it will want to outperform the low figures in this outlook. This will mean delivering measures to ease money and credit and to stimulate demand.
- John Redwood