A banker is hung in effigy as part of an art installation in Miami, Florida. Image: Getty

The perverse consequences of punishing the banks

29 July 2014 17:20

Lloyds Banking Group is to pay fines of £218 million for fixing interest rates including Libor (the rate at which banks lend to one another) the Financial Conduct Authority and… Continue reading

The Changing Face Of The UK High Street

Britain’s banks fail the poor

28 July 2014 11:36

Britain’s banks aren’t working for the poor. We, the better off, might moan when our internet banking crashes or in-branch mortgage advisers can’t meet us on Saturday mornings; but these… Continue reading

Picture by Carla Millar.

Ed Miliband’s tricky second album

17 January 2014 13:10

Ed Miliband has spent the past few months celebrating the success of his conference pledge to freeze energy prices. He was so pleased with the disruption that this caused that… Continue reading

Image: Getty

Ed Miliband’s ‘One Nation Economy’ speech: full text and audio

17 January 2014 11:59

listen to ‘Ed Miliband's ‘One Nation Economy’ banking reform speech’ on Audioboo Today I want to tell you what the next election is about for Labour. It is about those… Continue reading

(FILES) A combination of file pictures s

Don’t blame the banks for not lending enough to small businesses

6 September 2013 10:35

It is now a truism in Westminster to argue that banks are failing UK businesses, especially smaller ones, by reining in lending, thus thwarting growth. The problem with this truism… Continue reading

The Treasury Select Committee criticised the FSA's oversight of RBS. Picture: Getty

Selling RBS

16 February 2013 15:17

The state owning banks is not a good thing. It is, as the annual row over bonuses at RBS demonstrates, very difficult to keep politics out of the running of… Continue reading

Picture: Getty Images

Mervyn King vs. Goldman Sachs

15 January 2013 16:39

What did the Governor of the Bank of England think of Goldman Sachs’ plan to wait until the 50p rate is cut in April to pay bonuses? At this morning’s… Continue reading

Food and finance are two areas where children and their families would benefit from better education. Picture: Getty

Don’t ban Frosties: teach children the life skills they need to make choices

5 January 2013 14:00

What a very sensible idea from a group of more than 200 MPs in today’s FT: teach children about personal finance. The All-Party Parliamentary Group on Financial Education for Young… Continue reading

The Osborne Austerity

Will Osborne have the luck of the Irish with his 4G auction?

16 November 2012 13:10

Could George Osborne be in line for a genuine windfall? The Chancellor is getting quite good at conjuring fake ones (Post Office pensions, raiding £35 billion from the Bank of… Continue reading

The 'great reckoning' is underway against the elites in Britain; but real reform remains elusive. Image: Getty

The Great Reckoning

28 October 2012 16:35

In my Observer column today, I talk about the scourging of Britain’s failed elite. To give readers an idea of how many institutions are in the dock, I quote an… Continue reading

Ed Miliband addresses the TUC rally in Hyde Park today. Photo: Anthony Devlin/WPA-Pool/Getty Images

It isn’t Miliband’s anti-austerity message that should worry the Tories but his pitch for small business support

20 October 2012 19:19

Ed Miliband’s speech to the anti-cuts rally today was well-pitched. The lines about how any government would have to make cuts guaranteed him the jeers that he needed to show… Continue reading

Nick Clegg And Vince Cable Give A 5 Point Plan On Tackling Banker's Bonuses

A nice new row for the coalition

15 August 2012 9:07

When Nick Clegg announced he was giving up the struggle on House of Lords reform, he named a number of policy areas that could fill the huge legislative void left… Continue reading

Anne Enright, Joe O'Shaughnessy

Shelf Life: Anne Enright

25 July 2012 11:47

Winner of the 2007 Man Booker Prize, Anne Enright is on this week’s Shelf Life. She tells us which book qualifies as the first satisfying satire on the Irish boom,… Continue reading

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Bank Of England Considers Further Quantitative Easing

More smoke from the Libor fire

20 July 2012 16:00

A new cache of emails released today by the Bank of England reveal its deputy governor Paul Tucker was warned that it was ‘plausible’ that Libor rates were being ‘influenced by commercial… Continue reading

General Election - Economy

We need a minister to defend the City of London

20 July 2012 10:18

Is the City of London worth defending? Not many in the government seem to think so. Vince Cable, the Business Secretary, calls it a ‘cesspit’. George Osborne blames the financial… Continue reading

May Day Demonstrations In London

City retribution

19 July 2012 11:00

When City AM editor Allister Heath was leaving the BBC’s Westminster studios on Friday, the last thing he would have expected was to be ‘arrested’. Out popped an overexcited viewer… Continue reading


The Libor mud-slinging makes things murkier

16 July 2012 22:45

As the inquiry into Libor-fixing by the Treasury Select Committee rolls on, two things become apparent – one, as the muck spreads across the financial community it actually becomes harder… Continue reading

General View of Canary Wharf Skyscrapers

MPs should move their money from big banks

16 July 2012 13:31

by Stephen Williams MP The Libor scandal has shown the UK’s banking sector in its worst light. The public has lost trust in the big banks and are concerned that… Continue reading


Diamond’s ‘complete lack of candour’

10 July 2012 13:00

Bob Diamond could be rather too busy in the next few weeks to enjoy the £2 million salary and pension entitlement that he will still collect from Barclays despite waiving… Continue reading

George Osborne

The Osborne/Balls stalemate

10 July 2012 8:45

George Osborne and Ed Balls are now locked into something of a staring match over the Libor scandal, with one waiting for the other to flinch. After Paul Tucker’s evidence… Continue reading

Paul Tucker, Deputy Governor of the Bank

Tucker denies Labour leant on Bank over Libor

9 July 2012 18:45

So Labour ministers did not ‘lean on’ the Bank of England to encourage lowballing of Libor rates, according to Paul Tucker. The Deputy Governor of the Bank told the Treasury… Continue reading

The Labour Party Hold Their Annual Party Conference - Day 5

What Labour did next on banking

9 July 2012 16:30

When Ed Miliband gave his speech to Labour’s autumn conference last year, he rather tied himself in knots about how to end predatory capitalism. The Labour leader was trying to… Continue reading

Prime Minister David Cameron And Chancellor George Osborne Ahead Of A Critical Week At The Leveson Inquiry

Inquiry debate leaves acrimonious atmosphere

5 July 2012 18:00

Following the vote just now, there will be a parliamentary inquiry into the Libor scandal. Andrew Tyrie, chairman of the Treasury select committee, will chair it because Ed Balls has… Continue reading

Labour Party Conference Focuses On Economy

Osborne and Balls are playing high stakes on Libor

5 July 2012 16:30

The exchanges between Balls and Osborne just now are some of the most heated and most personal in parliamentary memory. I suspect that Balls would now not offer to cook… Continue reading

Lights Out For Earth Hour 2012 in London

QCs could be the solution to the banking inquiry row

5 July 2012 13:30

There are, though partisans don’t want to admit it, problems with both a judicial inquiry and a parliamentary inquiry into the Libor scandal and the wider culture it has revealed.… Continue reading