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Bootleggers and Baptists – explaining the characteristics of government regulation


Because I am today a member of a small Baptist church, I feel I can get away with posting this great video which is a little unkind about us. There may be some people at my church who don’t drink but I’m not aware of anyone having a theological objection to alcohol sales on a Sunday and lobbying for a ban. I guess the author of the video has other experiences. The video explains why government regulation tends to have […]

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Margaret Thatcher nationalised regulation of the City


For City AM, Prof Philip Booth writes, Thatcher changed the City forever but Big Bang isn’t the whole story: Let’s be absolutely clear: in general, the 1980s was not a period of financial deregulation. Insider trading was made illegal in 1980. The life insurance industry, which had been almost free of regulation for over 100 years from 1870, was re-regulated from 1980 to 1982. Bank deposit insurance was introduced in 1979. The sale of investment and insurance products came under […]

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Tonight: Bank of Dave is back


Dave Fishwick is a remarkable man. A self-made entrepreneur, he knows good business builds up society. So when he realised the banks were failing both savers and productive businesses, he set up Burnley Savings and Loans as a step towards a “tiny, tiny bank”. Dave personally guarantees customers’ savings out of his own assets. He provides a 5% return. He makes productive loans to local businesses he gets to know personally. But the Establishment doesn’t know how, perhaps whether, to […]

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Interest rate swap meeting


Yesterday, I attended the latest meeting of the All Party Group on Interest Rate Swap Mis-selling, which affects a number of local businesses. Both the products and the process of clearing up after them are causing a great deal of distress and difficulty. As well as giving direct support to constituents on this issue, I made an intervention in the recent debate called by the Group’s chairmen, my colleague Guto Bebb. You can read the full debate here.  I said: […]

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EU-HSE farce update


On 4 Dec, I explained how a regulatory farce between the EU and the HSE was wasting millions of taxpayers’ money while costing business millions in lost sales. I have now had an update. Thankfully, the Secretary of State has understood the position. Iain Duncan Smith has given instructions which should see this dealt with promptly. The next stage is to deal with two crucial issues: why the HSE couldn’t see the problem they were causing in the first place and […]

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