Thursday, February 12, 2009

Should John Kingman or Lord Stevenson be next?

The following is the conclusion of an article on recent senior departures of Gordon Brown's henchmen from their sponsored posts in the FT (a Pearson's publication):

Greg Hands, shadow Treasury minister, asked the prime minister to clarify whether he was planning to “ditch” Mr Moreno. “Gordon Brown himself described advising people to avoid tax as ‘unpatriotic’. Is it now the case that if the allegations are true, the prime minister is going to stick to his word and remove Moreno from the chairmanship of UKFI?”

A spokesman for Mr Brown said it was wrong to “read anything” into how the prime minister had answered the question. “The prime minister has full confidence in Mr Moreno in his capacity at UKFI,” he said. The spokesman added that at “some point” there would have to be a “discussion” over whether his role would be made permanent.

Mr Moreno was already on the board of UKFI and agreed to fill in after Sir Philip Hampton, the former chairman, took on the chairmanship of RBS, the part-nationalised bank. Mr Moreno is also chairman of Pearson, which publishes the Financial Times.

UKFI, which manages the taxpayers’ £37bn ($53bn) stake in RBS and Lloyds Banking Group, is intended to be an arm’s length body. John Kingman, a Treasury mandarin, is chief executive.

See my first posting of this morning on Lord Stevenson to fully understand these various connections, linked here. (It was noticeable that Channel 4 News this evening showing various bankers' apologising before the Finance Committee excluded any picture of Lord Stevenson, too big a fish for these minnows one must assume! No wonder the whole country has been corrupted when served by public broadcasters such as these!)

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