I see that David Cameron is going to launch "The Big Society", this was mooted by the Tories during the election campaign. However, the concept was never actually tested on focus groups etc to see if anyone actually understood it or indeed wanted it.Anyhoo, disregarding what it may or may not have meant during the election, the PM will tell us today that it actually means taking money from dormant bank accounts idle for 15 years or more, and transferring that money into the "Big Society Bank" (which is being specially set up for the purpose). The Big Society Bank will in turn will allocate a portion of that money to local communities for local projects.
The PM is to claim that this is the "biggest redistribution of power from elites in Whitehall to the man and woman on the street".
Except that it isn't:
- The cash being used to fund the "Big Society" is not the "elite's", the raid on dormant accounts is in fact a form of taxation.
- The Big Society Bank will of course be controlled by the politicians, or their chosen appointees.
I wonder if the government will be able to keep their sticky little fingers off the millions that will be hoovered up by the Big Society Bank?
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ReplyDeleteI suspect you are correct in what you say; I feel Nanny will see the money in doormant accounts as a special slush fund for her own pet projects, in much the same way as she does with the lottery funds.
I must admit I am surprised that these doormant funds still exist, as I thought Mr Brown announced something similar whilst he was top dog.
I thought we were trying to get rid of state owned banks, not create new ones.
Oh Ken! Next you'll be suggesting that the Government influences lottery fund allocations - but surely that could never be.
ReplyDelete(Word verification "holecon", hmmm.)
Sounds just like theft to me, how can they possibly get away with it. Oh yes of course, they are politicians, that's what they do! It is still wrong though.
ReplyDeleteThey used to take the funds from dormant accounts anyway... they are just now saying where it will be spent.
ReplyDelete(I don't agree with them taking the dormant accounts in the first place).
I suspect that the government will seize the dormant cash and "look after it for us" in their own bank, transferring it back to the Big Toytown Bank as required.
ReplyDelete