At which point we come to the man who is not afraid to tell it as it is. Private banks have a poor record in financing new investment, preferring instead to expand reckless consumption and casino-like speculation. Frankly, both Brexits are hard; it is just that no-deal would be even harder. Neither is the Treasury being as creative as its counterpart in Germany, where a 100bn state fund can take Covid equity stakes in otherwise financially viable firms. A major investment package that boosted jobs and growth would also see public debt as a proportion of GDP fall.
The government is acting in such a cavalier manner because the speaker believes that private banks do better work.
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The government is acting in such a cavalier manner because the speaker believes that private banks do better work .
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