Friday, 17 February 2012

Central Banking State

The baleful and malign Central State is nothing if not cunning in seeking its own preservation at the taxpayer's expense. Whilst Osborne's austerity cuts have been concentrated on the most visible and proximate services to the general public - police, fire, health, libraries, swimming pools and the like - the jobs of the 2.36m employees of the Central State seem to have remained wholly intact.But have they?

I'm tempted to cut and paste the entire list of 2,420 central government bodies making up the total, as used by the Office of National Statistics, but will leave you to download the .xls file if you've a mind. But what struck me most is the extent in the State accounts of the banking sector; not only the entire Bank of England, Banking Department and Issues Department, but also 

ABN Amro Bank NV
Adam and Company plc
AMC Bank Ltd
Bank of Scotland plc
Black Horse Ltd
Coutts & Co
Lloyds Bank (BLSA) Ltd
Lloyds Banking Group plc
Lloyds TSB Bank plc
Lloyds TSB Private Banking Ltd
Lloyds TSB Scotland plc
Mortgage Express (England)
National Employment Savings Trust Corporation (NEST)
National Westminster Bank plc
Northern Ireland Central Investment Fund for Charities
Northern Rock plc
Royal Bank of Scotland Group plc
Royal Bank of Scotland plc, The
Scottish Widows Bank plc
Ulster Bank Ireland Ltd
Ulster Bank Ltd

I'd almost forgotten that Coutts, the Queen's bank, had been nationalised. Likewise the BOS. In the 'years of bitter wrangling over Scotland's future' to come I can see the future of Scotland's nominal banks as playing no insignificant part - if only to get them off the English books.

5 comments:

Anonymous said...

"I can see the future of Scotland's nominal banks as playing no insignificant part - if only to get them off the English books."

Eye, and there's the rub! Salmond wants his cake and ha'penny. He wants the oil revenues at 90% but the bank debts at only 10%. Yeah, right!

Aside from Scotland though, when are we ever likely to see our money back from all these nationalised banks??

Coney Island

English Pensioner said...

If they are registered as separate companies, why can't they be sold off individually. I'm sure, for example, that Coutts & Co could be sold as a going concern.

Chris Gilmour said...

Also The Post Office offer a fair range of banking services and National Savings and Investments, which are government owned.

G. Tingey said...

A little diingenous
Many of those banks only have a partial (often less than 50%) share owned by "The state".
And some of them - those associated with Lloyd's, pricipally were shafted - they were TOLD to buy loss-making banks, and at the same time, got a guvmint take-over of some of their shreholding.
And some of them aren't real banks anyway, they are ex-buliding societies with dead delusions of grandeaur.

Should they have been allowed to fail?
That is a different discussion, isn't it?

Anonymous said...

The Post Office is reducing its banking activities to the sale of Premium Bonds only. There is no more "Post Office Savings Bank".

DC