LORD Mandelson’s small business loans guarantee scheme seems like a good idea, and has been guardedly welcomed by industry.
Two observations, though.
First, if the scheme is a blatant lift from something the Tories proposed, I don’t care. A good idea is a good idea, even if the opposition thought of it first. I’m no economist (as many commenters have pointed out over the past few months) so I’m in no position accurately to say whether this accusation is true or not. But at times of economic crisis, we should be more concerned with the effectiveness of such schemes than with their origins.
Secondly, and more importantly, why in hell’s name do we have to have such a scheme a few weeks after we stuffed the bankers’ mouths with gold? Who do these people think they are by taking refinancing money from the government while simultaneously withholding business loans from small businesses?
I don’t like the fact that we live in a blame culture. But since we do, we should be pointing our fingers more in the direction of the incompetent leeches who have conspired to bankrupt our banking system and only seem capable of continuing in business through public handouts.
A national embarrassment.