Thursday, 10 December 2009

PBR - Pretty Bad Really

Of course the spin will dictate that the key announcement in yesterday's PBR (Predictable Brownite Rubbish) was superb. There was a firm commitment to establishing the Umbrella Bank with up to 75 million of the unclaimed brolly assets being retained by the banks. This "firm" commitment follows the government's earlier commitments to think about it when we get a spare 5 minutes, sleep on it, run it up the flagpole and see if it flutters in the breeze, kick it around, explore it further, support it in principle if it will shut you up, and then consult on it and is all down to my lobbying. Oh and Sir Reggie Coining's initial visionary idea.

In reality, the fact that it is "up to" 75 million is less encouraging. That could mean 45. Or 768. Stop buggering about and hand all of those brollies over. And no point wasting time setting up a new institution. Give it all to Brolly Investment Business. I am sure no one would disagree with that and demand that the new bank be established as a mission-driven financial institution, operating independently from government and retail intermediaries. Unless they're mad.

The rest of the PBR was Poor Brolly Result with very little of cheer for the umbrella sector. But no matter, I am off to Loch Boggnachar in Scotland for a couple of days rest and recuperation prior to me having some further work done on my vision.

No comments:

Post a Comment