Cameron Raids Dormant U.K. Accounts as Minister Attacks BanksBy Robert Hutton - Jul 19, 2010Bloomberg Jul. 20, 2010 |
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
John Podhoretz Demands National Guard Be Sent Into Columbia U to Put Down Pro-Palestine Protests
House Passes $95B Foreign Aid Giveaway to Israel, Ukraine and Taiwan, Combined With TikTok Ban
Senate Passes FISA Spying Bill, Includes New Measure to Turn U.S. Businesses Into NSA Spies
U.K. Prime Minister David Cameron announced plans to use “hundreds of millions of pounds” from dormant bank accounts to fund community projects, while Business Secretary Vince Cable said lenders “ripped off” customers. Cameron said he will press ahead with a proposal set out in the coalition government’s program to establish a “Big Society Bank” to finance moves by charitable groups and not-for-profit companies to take over jobs currently done by the government. “These unclaimed assets, alongside the private-sector investment that we will leverage, will mean that the Big Society Bank will over time make available hundreds of millions of pounds of new finance to some of the most dynamic social organizations in our country,” Cameron said in a speech in Liverpool, northwest England, today. Cameron said the idea ties in with his plans for a general overhaul of the public services, as the government tries to narrow a record budget deficit. The new Office for Budget Responsibility forecasts that 490,000 public-sector jobs will be lost by April 2015. “We’ve got to get rid of the centralized bureaucracy that wastes money and undermines morale,” Cameron said. “In its place, we’ve got to give professionals much more freedom and open up public services to new providers like charities, social enterprises and private companies so we get more innovation, diversity and responsiveness to public need.” Read More |