Monday, October 20, 2008

The Monday morning blog - home-spun repossession

Evette Cooper's demand that the banks should use repossession of homes as a last resort caught my attention yesterday. It was almost a repeat, word for word, of what Vince Cable has been saying for some time. So the pressure on the banks avoid repossession of homes is welcome.

But let's face it, what Ms Cooper was doing was making a well spun statement. She wasn't actually announcing any new powers to tackle the problem. After the announcement that the state owned Northern Rock turned out to be the worst offender for repossessing homes, Labour needed to make it look as if they are tackling the issue, without actually doing anything about it. Hence the Cooper call on the banks.

The call of course completely contradicts the claim by the Chancellor when announcing the bank bailout that the "government is not in the business of managing banks" - in other words, the banks will be free to get on with managing their own affairs unhindered by minsiters.

So, whatever you think about Labour, they continue to be experts at spin (well, at least the people running their party nationally are - my view of the Labour spinners in Gateshead is somewhat different!)

Anyway, I am now on the train to London. You can tell the autumn is well upon us as we drove to the station in the dark. I am having a short week in London. I'll explain why I will be home sooner than usual later in the week but it's something to do with coal and tv!

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