East Riding
Liberal Democrats

National News

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Prime Minister found wanting when challenged on Northern Rock

Gordon Brown today attacked critics of the government's handling of the Northern Rock crisis, but was unable to guarantee that the £26bn of taxpayers' money loaned to the bank will definitely be recovered. The prime minister insisted that the decision to support Northern Rock was correct, as it had prevented wider panic in the financial markets. The Treasury is currently negotiating with two potential purchasers, Virgin Group and Olivant. Both their proposals involve the government continuing to offer billions of pounds in support for several years.

7 Jan 2008
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Chancellor's solution will not solve Northern Rock problem says Cable

The chancellor is planning to give the Financial Services Authority more power to deal with failing banks to avoid another Northern Rock-style crisis. The proposals, planned for legislation in May, include giving the FSA the power to seize and protect customers' cash if their bank was to get into difficulties. The Chancellor has ruled out having a special institution designed to take over banks that get into trouble, as happens in the US, but wants to introduce a new Cobra-style response unit to deal with any future financial crises.

7 Jan 2008
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Liberal Democrat leader vows to "break the two-party system"

Nick Clegg, the new Liberal Democrat leader, has vowed to "break the two-party system" in UK politics. Speaking on Sky News' Sunday Live show Mr Clegg said he believed 2008 would be the "crucial year" to restore his party's fortunes and we are on the way to reinventing politics. The days of two-party politics are numbered." Mr Clegg added: "I have set a very clear long-term objective which is that I want to see us over the next two elections break the two-party system for good, establish three-party politics for good."

7 Jan 2008
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Fire [Photo: Ernest von Rosen, www.amgmedia.com]

Why Folkestone IS Different and Folkestone Fire Station Should Not be Cut

We're writing to you as a member of the Kent Fire Authority, who will shortly be considering the proposal to remove a full-time fire engine from Folkestone Fire Station, leading to the loss of 24 firefighters from Folkestone, plus the removal of the turntable ladder sited at Folkestone to Ashford.

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7 Jan 2008
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