Lloyds to Co-op banking

Politics Home reports that Lloyds has agreed to sell 632 branches to the Co-op and we have Mark Hoban, on Conservative Home, prattling on about competition with George Osborne waffling about it being a good deal and one that creates a new banking system which provides real choice to customers.

Neither George Osborne in his reported comment, nor Mark Hoban in his article, acknowledge that Lloyds Banking Group was ordered by EU competition regulators to dispose of branches, although Mark Hoban admits to working with the European Commission without saying why they were involved.

Were we not supposed to have ‘transparency’ and ‘openness’ in government? But then it must be difficult to break the habits of a lifetime which have involved ‘lying by omission’.

Surprise, surprise, it takes the BBC to acknowledge the reason for the sale. A ‘red letter’ day indeed.

 


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