Lib Dem peer resigns in protest at cave-in on deal
Thursday 10 February 2011
The Liberal Democrats' Treasury spokesman in the House of Lords resigned last night in protest at what he saw as a cave-in by David Cameron and George Osborne in the Government's negotiations with the banks. Lord Oakeshott told
The Independent: "I am afraid the banks have taken the Treasury for a ride. I decided I that felt more comfortable saying that from the back benches than the front bench."
The peer, who has been a City fund manager for the past 35 years, added: "I have borrowed £100bn from the banks in my career. You only get a good deal if they think you don't have to do a deal. The Treasury and Number 10 have been sending all the wrong signals and wrong messages during the negotiations."
Lord Oakeshott is a close ally of Vince Cable, the Lib Dem Business Secretary, who publicly backed the deal but is thought to have favoured tougher action against the banks.
Ed Balls, the shadow Chancellor, said: "It is a sad commentary on this Tory-led government that Lord Oakeshott has been forced to pay the price for daring to tell the truth."
Newcastle manager taunted again as his side loses to Stoke
- 1 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before a character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 Pope Francis assures atheists: You don’t have to believe in God to go to heaven
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
George Clooney and Amal Alamuddin wedding: The famous congratulate actor and human rights lawyer after Venice nuptials
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
£23500 - £40000 per annum: Randstad Education Plymouth: ***KS1 & KS2 Teachers ...
£40 per day + Travel Scheme : Randstad Education Cardiff: The Job: Our client ...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£85 - £120 per day: Randstad Education Cheshire: randstad education are curre...