Friday 27 February 2009

Iain does a Wendy

I was intrigued by Iain Gray's poor performance at FMQs - missed the spot again - and this time he forgot to check his flanks and opened his own party up to a bit of a roasting. He wanted to try to link Fred Goodwin's pension to Alex Salmond, forgetting that Darling had already blown the gaffe on the deal, and his own record in administration. Has Iain done a Wendy?

1. Alistair Darling has accepted in the House of Commons that Fred Goodwin's pension was considered by the Government but that it did not understand the arrangements:

"We had previously understood that his pension commitments were an unavoidable legal commitment," he told MPs during a statement to MPs about new support for Royal Bank of Scotland.

“We didn't know and it was only very recently that we became aware that the decision of the previous board of RBS to allow Sir Fred to take early retirement had the effect of increasing his pension entitlement and that might have been a discretionary choice."

2. A report highlighting Gordon Brown’s links with Fred Goodwin:
… the Prime Minister had strong links to the RBS chief for nearly a decade and they remained close even after the ABN takeover that Mr Brown has attacked as 'irresponsible'.In 1999, Sir Fred, then group deputy chief executive, chaired a Treasury taskforce on credit unions. he became a regular visitor to 11 Downing Street and a valued adviser to the then chancellor.In 2004, Sir Fred received his knighthood, on the advice of Mr Brown, for services to banking. Two years later he was a member of the chancellor's International Business Advisory Council.

3. Gordon Praises Sir Fred Goodwin's business expertise: As Gordon Brown departed for China last night, he launched a broadside at the lack of reform in Europe, and promised he would sell British financial services and universities in the Middle Kingdom."We have got British financial expertise to put at the service of Asian economic development. We want more doors open for British firms. I believe Sir Fred Goodwin, of the Royal Bank of Scotland, is out in China at the moment," the Chancellor said. Daily Telegraph, 14 October 2005

4. From the Evening News, 20 November 2002 – “GRAY WOOS AMERICAN MONEYMEN” Iain Gray, the Scottish Finance Minister, has been speaking to major leaders in finance in New York on the benefits of setting up in Scotland.Mr Gray, during a talk at the New York Stock Exchange, called that city "the financial capital of the world" but outlined the case for Scotland, saying it was a "cornerstone of an industry which is one of the most vibrant in Europe, employing 200,000 people. Not bad for a country of five million people". "The strength of the sector is demonstrated by this incredible fact - from the end of 2000 to the present date, the financial value of funds managed in Scotland has risen by 200 per cent to 350 billion pounds," he told his audience.He added: "Scotland is a serious player in the world of financial services. We have a highly skilled workforce - flexible, motivated and experienced in financial services."

1 comment:

Anonymous said...

Does Labour London actually inform Labour Scotland of anything it is doing ?