The last roll of the dice

Another week, another plan to stimulate the economy from the UK government. I actually think what they’re doing this week is pretty sensible, which basically means an insurance / underwriting scheme dependent on mandated lending to individuals and small businesses. But I think today is actually less about this individual step, and more about the fact that most commentators are in agreement that if this doesn’t work, ie doesn’t restart the flow of credit to sound lenders, then it’s going to lead to pretty much a wholesale nationalisation of the banking sector in the UK.

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