Karen Allen

I fought South Shields at the May 2010 General Election for the Conservatives, gaining a 6.4% swing which was a 4% vote increase. The Conservatives polled 7,886 up from 5,207 in 2005. I was born in the North East and grew up in South Shields. I currently live in London and am employed as a Director at Lloyd's Broker Howden International.

Wednesday, May 19, 2010

Listen to the Canadians

It's almost six weeks until the G8 and G20 summits which are to be held in Toronto. I'm sitting in the airport lounge in Montreal after spending a week in Canada, reading the Business Section of the Montreal Gazette, when I come across an article on the Baking sector with strong advice from Canadian Conservative Prime Minister, Stephen Harper. He says:

"You can't tax an economy into prosperity. Rather than a bank levy improve the quality of capital reserves, strengthen liquidity standards and put a cap on the amount of debt banks can use as leverage when making investments...."

The Canadian's sensible, prudent attitude to the banking sector - keeping retail and investment banking separate being a fundamental - meant they did not have the same crisis as their cousins South of the border or their British brothers. Now Britain, France and Germany are supporting an international tax on banking (which will surely just serve to drive wealth overseas), wouldn't you be upset if you were a Canadian?

2 Comments:

Anonymous Simon said...

Oh very good. Stephen Harper is unusual as a Prime Minister as he does not come from a "power family" background often referred to in Canada as Canadian Royalty or Bluebloods.
He has an economist's mind which bodes well for our country presently. He makes mistakes, they all do.
He briefly went to the same High School as me but evidently it served him better.
He is exceptionally bright, a great debater and he has the guts to take a stand if he has a differing opinion, even on the International stage and even with a Minority Government.
I think we are fortunate to have him presently leading our Nation even if our Parliament seems less co-operative than yours.
It is unfortunate albeit impressive that a minority Government seems to have accomplished more here than past majorities have in the last 20 years.
I must say I was very impressed by the professionalism of Brown in stepping down and Cameron and Clegg in stepping up.
Positive change will come in the UK soon.

2:59 pm  
Anonymous David Rocke said...

A report on the "Baking" sector, eh? Lots of dough to be made there for sure.

Excellent post and presumably Harper's pretty much immediate circumventing of his own fixed term parliament rule accounted for the 55% majority that caused the kerfuffle last week...

12:24 am  

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