Can Alistair Darling hold on to the position of Chancellor of the Exchequer?
Despite the fact we are only a few months away from the next general election there is serious concern this evening that Alistair Darling has made a mess of the UK economy and the UK banking crisis. He is under attack from all sides after today announcing a massive change in the UK banking sector which will effectively take the industry back decades. While there are reasons for dismantling some of the larger UK banking institutions, let us not forget them billions upon billions of pounds have been invested in the sector and will ultimately disappear when these banks are broken up.
This is the price that the UK banking industry has to pay for the bailout of Bradford & Bingley, Northern Rock, Royal Bank of Scotland and Lloyds bank with the promised short term return for UK taxpayers further away than ever before. Alistair Darling was pressed on numerous radio interviews today to confirm as and when UK taxpayers can expect their investment to be repaid although he refused to give an estimate which does not bode well for the future.
It is well known that Gordon Brown and Alistair Darling, once the closest of friends, no longer see eye to eye and indeed Alistair Darling has been accused of plotting to oust Gordon Brown although this is something which he vehemently denies. Can Alistair Darling hold onto his own position until the next general election?
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