The Prime Minister also pledged the creation of a £1bn “national investment corporation” to provide finance for businesses…
Seriously, does anyone at all think that some bunch of vote stealers (whatever coloured rosette they wear at election time) is going to be able to allocate capital either efficiently or equitably?
That the ability to kiss babies makes one a great investment banker?
3 responses so far ↓
1 Newmania // Sep 30, 2009 at 11:25 am
There is abolsutely no reason for this except as means to pretend debt is investment . I expect its only other money renamed anyway , from the Regional Bodies maybe .
Purest drivel
2 Duncan // Sep 30, 2009 at 3:57 pm
Quite a few people actually…
http://duncanseconomicblog.wordpress.com/2009/09/30/the-national-investment-corporation-some-reaction/
3 Andreas Paterson // Oct 2, 2009 at 12:42 am
The ability to make good investment’s is far from limited to investment bankers. The civil servants at Japan’s MITI were lawyers by trade, those directing Korea’s industrial development were largely engineers. Closer to home the vast majority of entepreneurs are not investment bankers either.
For gods sake, is it actually possible to define exactly what unique skill gives one the ability to invest efficiently?
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