Lord Myners role within government comes under scrutiny
If Lord Myners thought that his grilling by the Treasury Select Committee was the last of a bad week then he may need to think again. The close relationship between the UK government and an array of banking experts has come under close scrutiny this week with Lord Myners in particular highlighted for his expertise not only in the city but also with regards to tax havens around the world.
On one hand the UK government has absolutely slaughtered those involved in the city and tax havens around the world but on the other hand it seems that Gordon Brown's government is happy to use their expertise. Unfortunately the government cannot have it both ways, either they are totally against tax havens and looking to tighten regulations in the city or they are looking at closer ties with the city and more than willing to use the expertise which has come out of London over the last few years.
The fact that Lord Myners was placed in sole control of the UK government's taxpayer funded banking exposure, because of his background in the city, does open the UK government to ridicule. These are the same people who have taken away massive pay packages in the past and who are now given the task of slimming down remuneration packages and pulling their "friends" in the city back into line.
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