Quote:
Originally Posted by claytonender
Andrew can you please tell us how, in your opinion, (as you are such an expert on everything) the Tories would have handled the world wide banking crisis.
Would they have acted to protect the savings of millions of UK residents or would they have allowed the banks to fail -which would have been even more destructive to everyone in the UK.
It is all very well being wise after the event and saying that your party would have acted differently.
Maybe you could have a word with your fellow party members on Hyndburn council - who seem to want to squeeze as much money out of Hyndburn's council tax payers as they can. Maybe you could do a FOI on the cost of buffets for the Tory members of HBC.
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I'm by no means an expert claytonender, but thank-you for the complement.
The Conservatives voted against splitting banking regulation into three separate institutions which didn't talk to each other in 1997 long before the collapse of the banking system. They believed at the time and believe now that that power should remain with the Bank of England so that it can monitor banks and not allow them to over borrow, as used to do in the past. They also wouldn't have stored up debt and borrowing in the good times, allowing them to effectively tackle crisis like other nations have. In other words, they'd fix the roof while the sun was shining.
If banks had still failed, they wouldn't have failed so spectacularly under these measures. If they had of failed, of course they'd protected peoples savings. Bit of a silly question - another of your 'Labour did this; therefore the Conservatives wouldn't have' flawed logic.
Council tax has gone up in Hyndburn by half the national average under a Conservative administration. I'll leave you to FOI your colleagues buffets if you're that interested.