Ah! Ed Miliband “forgot” to talk about the UK’s still gargantuan budget deficit at last week’s Labour party conference. That explains it – he forgot! Phew! For a moment, I was worried.
There was I thinking the Leader of Her Majesty’s Opposition doesn’t care about putting the UK’s public finances back on the straight and narrow. I was concerned he was deliberately ignoring our budgetary predicament, kicking the acute fiscal problems we face even further into the long grass.
Last Friday, the debate on UK bank reform burst into life, after Ed Miliband boomed that British banks have been “an incredibly poor servant of the real economy”. Labour, the party’s youthful leader told us, will “turn the tide”.
The UK’s five largest banks are “too powerful” and should be forced to give up “significant numbers” of branches, said Mililand. He’s right, given that the big-five still hold 85pc of personal accounts. “On day one” of the next Labour government, Miliband promised, steps would be taken to create two new “Challenger” banks to take on the existing “big five” and boost competition on the High Street.