Monday, 15 February 2010

5 Years

Today we were told that it may take 5 years to get our money back from the bailout of the banks. UKFI, who look after our interests in the banks on behalf of the Government, play their cards close to their chest (i.e. tattooed on), and then come out with that figure. This organisation needs to be opened up to proper scrutiny, as they are managing billions of pounds of our investment. They have offered to talk to MP's about what they do twice a year. As a concession. This is absurd. UKFI shoud be fully answerable to taxpayers, and MP's should have access to what they are up to. To offer ana occasional update as if it was up to them how they conduct themselves inspires no confidence at all. Vince Cable warned today that it may take a decade to realise our investment, as has been seen elsewhere in the past. So we need honest, clear answers from UKFI, and a proper say in what they, and our banks are doing with our money.

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