George Osborne has called on Mr. Brown to take urgent action to unblock the mortgage market after the Prime Minister’s meeting with leading bank chiefs.
After the meeting, Mr. Brown yet again failed to take the initiative and make a meaningful decision about a course of action.
George said, “In typical Gordon Brown style, the only concrete decision that came out of his meeting with bankers was the promise of another meeting – this time with his understudy, Alistair Darling.”
Brown was told by the banks that more liquidity needed to be poured into the banking system – an issue highlighted by George in his speech on Monday.
And the Shadow Chancellor warned:
“With more gloomy news on housing it is time for the government to stop dithering. We need to unfreeze the mortgage market with the collateral swap programme that I set out yesterday.”
