Thursday 23 March 2017

Why the banks might just be right in refusing to cut rates

Brendan Keenan

Brendan Keenan

Forensic readers of this column might think that last week's effort was inspired by the new book from David Cameron's former chief strategist, Steve Hilton, lamenting the power of vested interests in modern democracies.

Not so; I came across extracts from the book after the column was despatched. But it was nice to get confirmation from the inside, as it were, of what seems all too obvious from the outside.

Mr Hilton's words are stronger than one would dare to use viewing political systems from the distant vantage point of citizen, or even journalist. "Our democracies are increasingly captured by a ruling class that seeks to perpetuate its privileges," he writes.

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