I hear this morning he is drawing up a list of companies that the government would need to assist if they get into financial difficulties.
PLEASE DON’T. Such a list could only be damaging. If it got out it could start a run on the share prices of certain companies. It will divide the business world into the elect to be saved and the reprobate to fail. The last thing we need is such a division, and such back handed help.
Please also remember that now the governemnt owns RBS it is very overstretched financially itself. There are limits to how many commercial companies can be bailed out by a government planning to borrow over £150 billion this year already.
About John Redwood
John Redwood won a free place at Kent College, Canterbury, He graduated from Magdalen College Oxford, has a DPhil and is a fellow of All Souls College. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.
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