The Economy

Part of Council Tax Rebate – in the House of Commons at 4:59 pm on 31st March 2009.

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Photo of Kelvin Hopkins Kelvin Hopkins Labour, Luton North 4:59 pm, 31st March 2009

I am following what the hon. Gentleman is saying with great interest, and I agree with much of it. Anatole Kaletsky, writing two or three weeks ago in The Times, suggested that if we completely nationalised RBS and it became a state bank, others would quickly follow, dominoes would fall all over the world and we would very quickly have a world where the banks controlled public investment. Publicly owned banks and state banks would run the economies of the world. I would welcome that, personally, because I am a socialist. Other people might not. Does the hon. Gentleman think that Anatole Kaletsky's concerns are valid?

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